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/biz/ - Business & Finance

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20761547 No.20761547 [Reply] [Original]

How was the rebase so large after such a terrible day

>> No.20761642

Don't know exact number. Looks like 10 procent.

>> No.20761989

>>20761547
>>20761642

It's because it's based on the WEIGHTED 24 H AVERAGE ORACLE PRICE.

So it takes a while for the price to represent current market price.

BTW, you can use this sheet to know the exact rebase %: https://docs.google.com/spreadsheets/d/1m5nMkBVEhbc16Kl1J7CwltbVLSIK0BLH8W0FCKoR7zQ/edit#gid=0

>> No.20762077
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20762077

>>20761989
mind explaining how this works? i'm just a brainlet

>> No.20762418
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20762418

>>20762077
The spreadsheet or the oracle?

The oracle gets price data over an average of 24H instead of getting current market price. This means that it literally considers each price every X interval (could be 10 seconds, could be more) and then ands all the values up to compute an average price. This has two effects:

1. AMPL will not expand or contract immediately just because 10 seconds before the rebase time price dropped sharply or increased just as sharply. This is so not to shock the market

2. An oracle attack does not have much effect on AMPL, as being an average it can sustain some damage before things are restored to normal, making the protocol more resilient.

For the spreadsheet, all you have to do is change the ORACLE_PRICE cell to what you think the price will be at the rebase time and then you'll see what the rebase % will be assuming that oracle price.

BTW, to know the average oracle price right now, all you have to do is go to https://www.ampleforth.org/dashboard/ and check out the "Oracle Rate" at the top of the website.

>> No.20762498

>>20762418
Thanks for the info, for some reason I can only view the document not make changes to it...
Also, I thought the rebase was based on a 10 day average?

>> No.20762798

>>20762498
You cannot change the document because I own it. You can make a copy of it though in your own google account. Just navigate through the top menus.

> Also, I thought the rebase was based on a 10 day average?

No. When people talk about the 10 day smoothing is in relation to how much new supply is going to be added after the rebase.

So, assume price is 2$. The system thinks that, since there's a 100% price difference from the 1.009$ that the system wants, it will increase the supply by 100%. BUT, to not shock the markets, it smooths out the increase over 10 days.

So 100/10 = 10% actual rebase (new coins).

>> No.20763051

>>20762798
aah okay thanks for clarifying.
Still a brainlet, so what does the supply delta mean? other than that I think I get it