forked from BitSharesEurope/bitshares-whitepapers
-
Notifications
You must be signed in to change notification settings - Fork 0
/
Copy pathbitshares-financial-platform.tex
103 lines (90 loc) · 8.09 KB
/
bitshares-financial-platform.tex
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
\documentclass{btswhitepaper}
\title{BitShares 2.0: Financial Smart Contract Platform}
\input{AUTHORS}
\begin{document}
\sloppy
\maketitle
\begin{abstract}%
Ever since Satoshi Nakamoto released his whitepaper and corresponding
software for bitcoin, the cryptocurrency ecosystem has continued to grow at a
rapid pace. In the beginning, Bitcoin created a platform that anyone could
use to \emph{transfer} value across the internet without middlemen, banks or
counterparty risk. However, once bitcoin's basic blockchain consensus
technology became established and stable, people began to discuss whether
blockchain technology could also be applied to enable the \emph{trade} of
multiple assets without the need for a broker or centralized clearinghouse.
BitShares has created such a technology, and has coined the term
"\emph{decentralized exchange}" (DEX) to describe our Bitcoin 2.0 platform.
Currently, it supports trade not only in digital assets, but also traditional
financial instruments and securities on the blockchain. The two main tools we
provide for the creation of these instruments, market pegged assets (MPA) and
user-issued assets (UIA), are discussed in detail in this paper.
\end{abstract}
\section { Introduction } \input { content/fp }
\section { Market Pegged Assets (MPA) } \input { content/fp-mpa }
\subsection { Price Stability } \input { content/fp-mpa-stab }
\subsubsection { Definition of Price Stability } \input { content/fp-mpa-stab-def }
\subsubsection { BitAssets 1.0: Historical Lessons } \input { content/fp-mpa-stab-bts1 }
\subsubsection { BitAssets 2.0: Evolving a Stable Crypto Currency } \input { content/fp-mpa-stab-floor }
\subsection { Price Feeds } \input { content/fp-mpa-stab-feed }
\subsubsection { Price Manipulation } \input { content/fp-mpa-manipulation }
\subsection { Issuance and Supply of Collateralized Smartcoins } \input { content/fp-mpa-create }
\subsection { Perspectives of Participants } \input { content/fp-mpa-persp }
\subsubsection { The Short Position } \input { content/fp-mpa-short }
\subsubsection { The Long Position } \input { content/fp-mpa-long }
\subsubsection { The Customer's Perspective } \input { content/fp-mpa-costumer }
\subsubsection { The Merchant's Perspective } \input { content/fp-mpa-merchant }
\subsubsection { BTS Shareholders and Investors } \input { content/fp-mpa-buyer }
\subsection { Undercollateralization and Black Swans Events } \input { content/fp-mpa-blackswan }
\subsection { Risks } \input { content/fp-mpa-risk }
\subsubsection { Collateral Risk } \input { content/fp-mpa-risk-coll }
\subsubsection { Counterparty Risk } \input { content/fp-mpa-risk-counter }
\subsubsection { Systemic Risk } \input { content/fp-mpa-risk-system }
\subsection { Privatized SmartCoins } \input { content/fp-mpa-privatized }
\section { User-Issued Assets (UIA) } \input { content/fp-uia }
\subsection { Deposit Receipts } \input { content/fp-uia-rights }
\subsubsection { Know Your Customer } \input { content/fp-uia-rights-kyc }
\subsubsection { Asset Seizing } \input { content/fp-uia-rights-seize }
\subsubsection { Market Restriction } \input { content/fp-uia-rights-market }
\subsubsection { Transfer Restrictions } \input { content/fp-uia-rights-tx }
\subsection { Use-Cases } \input { content/fp-uia-uc }
\subsubsection { Rewards Points } \input { content/fp-uia-uc-points }
\subsubsection { Event Tickets } \input { content/fp-uia-uc-ticket }
\subsubsection { Digital Property } \input { content/fp-uia-uc-property }
\subsubsection { Crowdfunding } \input { content/fp-uia-uc-crowdfunding }
\subsubsection { Information/Prediction Markets } \input { content/fp-uia-uc-pm }
\subsubsection { Company Shares } \input { content/fp-uia-uc-stock }
\subsubsection { Privatized SmartCoins } \input { content/fp-uia-uc-privatized }
%\subsubsection { Individual or Corporate Debt } \input { content/fp-uia-uc-dept } % Bond
\subsection { Fee Pools } \input { content/fp-uia-profit-feepool }
\subsection { Profiting from UIAs } \input { content/fp-uia-profit }
\section { Decentralized Exchange } \input { content/fp-dex }
\subsection { Core Features of the DEX } \input { content/fp-dex-features }
\subsubsection { Separation of Powers } \input { content/fp-dex-powers }
\subsubsection { Global Unified Order Book } \input { content/fp-dex-globalbook }
\subsubsection { Trade Almost Anything } \input { content/fp-dex-anything }
\subsubsection { No Limits } \input { content/fp-dex-limits }
\subsubsection { Decentralized } \input { content/fp-dex-decentral }
\subsubsection { Secure } \input { content/fp-dex-secure }
\subsubsection { Fast, but not too fast } \input { content/fp-dex-fast }
\subsubsection { Decentralization of Privacy } \input { content/fp-dex-privacy }
\subsection { Order Matching } \input { content/fp-dex-ordermatching }
\subsection { Collateralized Smartcoins } \input { content/fp-dex-collateral }
%\subsection { 3rd Party Services and Business Opportunities } \input { content/fp-dex-roles }
\subsubsection { Fiat Gateways } \input { content/fp-dex-gateway }
\section { Platform for Further Smart Contracts } \input { content/fp-morecontr }
% \section { Collateralized Bond Market } \input { content/fp-bond }
% \subsection { Avoiding Margin Calls } \input { content/fp-bond-margin }
% \subsection { Proposing and Creating a Bond } \input { content/fp-bond-create }
% \subsection { Bond Parameters } \input { content/fp-bond-parameters }
% \subsection { Closing a Bond } \input { content/fp-bond-close }
% \subsection { Interest on MPA } \input { content/fp-bond-market }
\section { Fees } \input { content/fp-fees }
\section { Conclusion } \input { content/fp-conc }
\bibliographystyle{IEEEtran}
\bibliography{literature}
\end{document}
%% TODO:
% - review all occurrences of ``delegate''
% - add QR code for more information?
% - improve abstract and conclusions