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TL;DR: The GRIDCOIN MPA suffered a 'blackswan' event, where a massive pump on Poloniex (upper double digit rise) then a subsequent dump a couple days later caused the collateral backing the GRIDCOIN MPA tokens to be insufficient & the BTS system locked the asset.
Turns out there wasn't the ability to unlock/reset the asset after the blackswan event, this has resulted in further development to the Bitshares network (and will require a hard fork on their network!).
Once the fixes are in place, I will reset the MPA & we'll be back in fully decentralized business! 👍
The text was updated successfully, but these errors were encountered:
https://github.com/bitshares/bsips/blob/master/bsip-0017.md BSIP is still listed as a draft, it might be a while before we get the 'GRIDCOIN' MPA operational again. Given the volatility of GRC's price we may repeatedly encounter 'blackswan' events though..
bitshares/bitshares-core#216
https://bitsharestalk.org/index.php/topic,23334.msg299146.html#msg299146
TL;DR: The GRIDCOIN MPA suffered a 'blackswan' event, where a massive pump on Poloniex (upper double digit rise) then a subsequent dump a couple days later caused the collateral backing the GRIDCOIN MPA tokens to be insufficient & the BTS system locked the asset.
Turns out there wasn't the ability to unlock/reset the asset after the blackswan event, this has resulted in further development to the Bitshares network (and will require a hard fork on their network!).
Once the fixes are in place, I will reset the MPA & we'll be back in fully decentralized business! 👍
The text was updated successfully, but these errors were encountered: