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June 16, 2017, 04:57:37 PM Last edit: June 16, 2017, 10:29:37 PM by De Selby |
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Okay. So let's think this through.
In the OP's example R = 80,000 S = 40,000,000 and T = 0.2.
Suppose someone buys 10% of BNT. At 100 BNT/ETH, that's 40,000,000 * 0.01 * 0.1 = 40,000 ETH.
So how many BNT units are issued?
POWER(1+(40,000/80,000))0.2 = 1.084471771 - 1 = 0.084471771 * 40,000,000 = 3,378,871 BNT new tokens issued.
Hence the new price becomes: 120,000 / (43,378,870.85*0.2) =0.01383 as opposed to 0.01363.
Same discrepancy arises on the sell side as well, because you take the root of F when calculating the number of tokens to subtract, hence (I'm assuming) preventing a steep drop in value.
The equations were all taken from the whitepaper.
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