The Norns have activated on the Bitshares platform!

in bitshares •  5 months ago 

The Norns have activated on the Bitshares platform!

Urthr, Verthandi and Skuld have activated now that they have met the minimum price feeds of 7 to activate.

You're now able to issue new Norns and trade them on the Bitshares platform using any Bitshares exchange interface.

Cryptofresh links: Skuld, Verthandi & Urthr.

Comment below if you're interested in trading the Norns 👍

What are the Norns?

The Norns are three oscillating algorithm based assets on the BTS DEX. They are 120 degrees offset from one another and have an amplitude of 5.303030303% over a period of 28 days.

Urthr, Verthandi and Skuld are named after the Norns from Norse mythology in which they spin the threads of fate at the foot of Yggdrasil, the tree of the world.

Urthr, named after Urðr (fate/past) is the first phase offset ABA.

Verthandi, named after Verðandi (present) is the second phase offset ABA.

Skuld, named after Skuld (future/debt) is the third phase offset ABA.

Norn properties

  • Peak value: 1 + (5.303030303/100) = 1.05303030303
  • Trough value: 1 - (5.303030303/100) = 0.94696969697
  • Daily rate: (((Peak/Trough)-1)/14)*100 = 0.8%
  • Period: 28 days
  • Amplitude: 5.303030303 %
  • Maintenance collateral ratio: 2000
  • Maximum short squeeze ratio: 1100
  • Feed lifetime: 24h
  • Minimum feeds: 7
  • Force settlement delay: 24h
  • Force settlement offset: 1%
  • Max force settle vol: 20%
  • Short backing asset: BTS

Permissions, Flags & Trustworthiness

To improve trustworthiness, the following unnecessary centralized asset-owner permissions have been permanently surrendered:

  • “Require holders to be white-listed”: There will never be a white-list for holders.
  • “Issuer may transfer asset back to himself”: The issuer can never transfer the asset back to themselves.
  • “Issuer must approve all transfers”: Transfers will never require approval.
  • “Disable confidential transactions”: Confidential transactions (whenever implemented) will always be allowed.
  • "Disable force settlement": I'm unable to disable force settlement, if you don't want force settlement you should use an UIA.
  • "Charge market fee" - There are no market fees.
  • "Allow issuer to force a global settlement" - It's impossible for the 'issuer' (account with asset owner permissions) to force a global settlement.

Visualization

The following Norn price feed visualization was produced in the 'Simulator.xlsx' spreadsheet, it can be used to experiment with different variables and for producing future values.

Norn chart

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