Okay, here are my suggested changes that make this is bit more workable and uses elements we already have to reduce dev time.
Modified POL Contract
(note: the original POL contract is outlined here)
- Create a public function anyone can call that will put 100 ETH up for sale.
- 100 ETH is a DAO controlled parameter
- The initial sell price should be set at two times the BNT/ETH rate on CG.
- This is a DAO controlled parameter
- At the time of writing, the rate is about 1 ETH to 3,000 BNT
- Contract offers to sell ETH at initial sell price
- For example, there are 100 ETH and initial sell per ETH is 6,000 BNT
- Any user can send 600,000 BNT to acquire the ETH
- The price of ETH drops as defined by an exponential decay formula with a 10 day half life.
- Anyone can buy the ETH with BNT at any time.
- These parameters can be adjusted by the DAO
- Once a trade ends and there are less than 10 ETH available for sale, the contract is topped up to 100 ETH.
- The new initial sell price will be the price of the last ETH sold x 2
@alphavalion - please let me know if you agree and are happy to incorporate my suggestions.