|Author||Justin J Moses|
Ensure the repricing of an iSynth does not trigger the decentralized circuit breaker.
When the protocolDAO resets an iSynth, it must also update the pricing for the iSynth in the last exchange price tracker in the
SIP-65 introduced a decentralized circuit breaker which is tripped when a price on-chain is detected more than some given factor. When an iSynth is reset with a new
entryPoint however, this changes the price quite significantly, and can trip the circuit breaker when there is a previous
Exchanger for that synth. This makes the synth unusable unless the factor is bumped up sufficiently to handle the iSynth repricing (or any iSynth repricing if many are performed simultaneously), and since the factor setting is system-wide, a much higher factor makes SIP-65 less useful overall.
When the protocolDAO resets an iSynth, the
Exchanger must be updated to the current iSynth rate with the latest
entryPoint, to indicate a refreshed price for the synth.
The protocolDAO already has the power to invoke
ExchangeRates.setInversePricing(). It’s at this point that the
Exchanger must be told to update any previous exchange rate with the one calculated at the time of repricing.
iETHis an inverse synth tracking
- And there exists a previous exchange into or out of
Exchanger.lastExchangeRate(iETH)has an entry
- When the protocolDAO invokes setInversePricing, changing the rate more than the
- And a user exchanges into or out of
- Then the exchange completes successfully and
iETHis not suspended due to a price spike
Configurable Values (Via SCCP)
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