Slightly off-topic but someone pointed me to this comment.
We have build an exchange based on dutch auctions. The parameters are:
- Anyone can register a new token pair.
- auctions will start at 2x the previous price and fall down to 0 after 24h. They reach the previous price after 6h
- thus on average an auction should run 6h
- the system will always start two parallel auctions (selling A for B; selling B for A)
- auction start 15min after previous auctions closes - but only if a threshold in sell volume is reached
One of the things that motivated us to build this was indeed to have a resilient price feed. We will take a weighted average of the 2 parallel auction and in addition a median value of the last 6 auctions. This will make the feed quite slow but also very hard to manipulate. Other usecases might want a more reactive feed and use data from a automated market maker like Bancor.
(we need that obviously for many prediction market use cases but also for stuff likedecentralized collateralized token lending)
The first audit passed already - expect a public bug bounty program next week and a mainnet launch within the next 6 weeks:
https://github.com/gnosis/dutch-exchange-smartcontracts/tree/contracts/SmartContractAudit2.0
https://blog.gnosis.pm/tagged/dutchx