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Free Floating PEG + 5K Limit
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@Emyrk Emyrk released this 04 Dec 18:04
v0.4.0
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This update brings in 2 huge updates to Pegnet, and it affects pegnet users and miners. All users of pegnetd and all miners will have to update their software. For miners mining as part of a pool, only the pool operators will need to update.

The 2 major changes: Activate at block height 222270, estimated to be Dec 9, 2019, 17:00 UTC. You MUST update by this block height.

  • Floating PEG Price (MINER UPDATE)
  • 5K Conversion Limit (PEGNETD UPDATE)

Floating PEG Price

The PEG Price has been calculated by the equation Total Market Cap / Total PEG Supply, but this is now changing. That equation was used to bootstrap the network before PEG was listed on an exchange. Now that PEG is listed, the PEG price will come from the same sources as all other assets; the external market.

!!! As a miner, this means you have to update your miner software to recognize this change, as this will fork the pegnet chain. All miners will additionally have to add a polling source for the price of PEG. 3 Options are currently available:

These can be enabled in the config by adding these lines: https://github.com/pegnet/pegnet/blob/7365ebab4df8b3922a2f0dffd73014c5c0e98267/config/defaultconfig.ini#L148-L150. Remember to set a priority >= 0, and double-check your datasource configuration with pegnet datasources. You can consult this wiki page for more information on configuring your datasources https://github.com/pegnet/pegnet/wiki/Configuring-Your-DataSources. This can be done before the activation height, the miners will automatically switch to include the PEG price at block height 222270. So update asap!

5K Conversion Limit

After the activation height, only 5K PEG per block can be created from conversions. If more than 5K PEG is requested to be converted in a block by 1 or more users, those users will instead receive a portion of the 5K PEG + a refund of their leftover amount. If you want to know why is this being implemented, please refer to this medium post here.

If you want to know how it is being implemented,

Other changes

Pegnetd Changelog:

  • Richlist in the cli + api
  • Refund output in PEG conversions. Until now, all conversions were whole. Now that partial conversions exist, since there is a limit of 5K PEG, an additional output exists; the refund. To accommodate this, all PEG conversions that have a refund will have an output in the transfer's outputs field that indicates the amount of the original asset returned. If you process the transaction outputs field regardless if it is a conversion or transfer, you will not have to update your code that handles txs. An example of this new api output can be found in the PR comments here.
  • Performance boost in get txs call
  • Free floating PEG activation
  • 5K Conversion Limit activation

Pegnet Changelog:

  • Modularized Grading, OPRs, Conversions, and more for external libraries (pegnetd uses this)
  • Free floating PEG activation for the miner. Datasources were added for this update, and you must update your config.
  • Some small miner enhancements
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