70 lines
1.5 KiB
Markdown
70 lines
1.5 KiB
Markdown
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# Pegging Mechanisms
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This document explains how pegging mechanisms work in the bridge system.
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## Stablecoin Pegging
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### USD Stablecoins (USDT, USDC)
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- Target price: $1.00 (1e18)
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- Threshold: ±0.5% (50 basis points)
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- Monitoring: Continuous via ReserveSystem price feeds
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- Rebalancing: Automatic when deviation exceeds threshold
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### WETH Pegging
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- Target price: 1:1 with ETH (1e18)
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- Threshold: ±0.1% (10 basis points)
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- Monitoring: Continuous via ReserveSystem price feeds
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- Rebalancing: Automatic when deviation exceeds threshold
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## Commodity Pegging
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All commodities are pegged through XAU (gold) as the base anchor.
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### Formula
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```
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Commodity Price = XAU Price / XAU Rate
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```
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Example: If XAU = $2000/oz and XAG rate = 80, then XAG = $2000/80 = $25/oz
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### Supported Commodities
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- XAU (Gold) - base anchor
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- XAG (Silver)
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- XPT (Platinum)
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- XPD (Palladium)
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- Oil (WTI, Brent)
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## ISO-4217 Currency Pegging
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All currencies are triangulated through XAU.
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### Conversion Formula
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```
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CurrencyA → XAU → CurrencyB
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```
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1. Convert CurrencyA to XAU: `amount / fromXauRate`
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2. Convert XAU to CurrencyB: `xauAmount * toXauRate / 1e18`
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### Example
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Convert 2000 USD to EUR:
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- USD XAU rate: 2000 (1 oz XAU = 2000 USD)
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- EUR XAU rate: 1800 (1 oz XAU = 1800 EUR)
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- Result: (2000 / 2000) * 1800 = 1800 EUR
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## Rebalancing
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When a peg deviates beyond its threshold:
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1. Deviation is detected by peg manager
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2. Rebalancing is triggered automatically
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3. Reserves are adjusted to restore peg
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4. Event is emitted for monitoring
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