Implementation of BSIP-18: Revive BitAsset through buying Settlement Pool
Name/bfid 201707-bsip18
Category Core Development
Freelancer Peter Conrad - Cyrano UG (haftungsbeschränkt)
Total $23,000
Duration 2017/08/01 - 2018/10/30 (2 months)
Worker ID 1.14.56 (click the id to vote with Beet or go to reference UI)
State Finished (partially or fully funded)
Accounting & Reporting

Worker Proposal

This document presents a worker proposal to the BitShares shareholders curated and supported by the BitShares Blockchain Foundation. We see a need for a few updates on the BitShares network and would like begin with the proposed work below. Further more, we are happy to announce that we already have a freelancer that is taking up this task for us:

Peter Conrad, also known as @pc and a knowledgable and long-standing member of the community and active developer for years.

Proposed Work

I propose to implement the functionality described in the BSIP-0018 consisting of

  • fixing the bug preventing settlement after a black swan
  • re-allowing price feeds after a black swan
  • the automatic revival of MPAs when the value of the settlement fund exceeds the nominal value of the total supply by more than the MCR
  • the bidding of additional collateral for a part of the debt and the associated part of the settlement fund
  • the revival of MPAs after sufficient bids have been made


My work includes the following milestones:

  • 20% specification (already delivered, see BSIP-0018)
  • 30% implementation (mostly finished)
  • 10% integration into testnet (*)
  • 10% testing (*)
  • 10% bugfixes
  • 10% integration into mainnet, including release (*)
  • 5% supervision of hardfork (*)
  • 5% supervision of initial coordinated MPA revival after hardfork (*)

I expect the current witnesses to actively assist in the items marked with (*). It is their responsibility to maintain the operation of the chain, and ultimately it is their decision which version of bitshares-core they use to produce blocks. With the current price of BTS, witness pay should be sufficient reward for their efforts.

The milestones are verified and validated by ChainSquad GmbH on behalf of BitShares Blockchain Foundation.

This means that the shareholders obtain a ready-to-run and tested patch that to be included in the BitShares network through a hardfork.


The package is priced at 23k bitUSD. This fee includes

  • all expenses for production,
  • testing,
  • account and worker setup fee,
  • escrow setup and maintenance,
  • worker bitUSD-payment management,
  • code quality assurance,

and is asked to be paid through a BitShares worker.

The freelancer applies additional rules:

  • I accept a fixed amount of bitUSD as payment. That means I do not profit from a BTS price increase. It also means that I will not suffer a loss from a BTS price drop. If the BTS price drops and as a result the worker payment is not sufficient to pay me out, an additional worker will have to be set up to make up for this.

  • If the shareholders decide to vote the worker out before it covers the payment I’m asking, I will stop working on the project. I will receive the full amount paid to the worker up to that point, in proportion to the work I have already delivered (see milestones above).

  • My full work will be delivered under the terms of the MIT license. In particular, the disclaimer applies.

Fork me on GitHub