This proposal sets to decrease the cost of supporting additional token pairs by allowing market makers to announce a set of tokens they can quote.
There is to be a secondary locator registry with the following interface:
addTokens(address) removeTokens(uint256) removeAllTokens() setProtocol(bytes4, bytes32) protocols(address)->((bytes4,bytes32)) stakers(address)->address tokens(address)->address
Unlike the pairwise locator, staking in this registry is mandatory. A staker’s obligation is 100,000 AST, plus 100 AST per token, and stake is deposited or withdrawn automatically when stakers
Staked AST should still be able to participate in governance via authorizedSigners and receive the same community benefits as AST staked elsewhere.
To find a list of market makers for a pair, the client queries
stakers(address) on both tokens, and then intersects the lists.
They then query
protocols(address) on those makers to get their server addresses, which they should cache but refresh at least daily.
This should be done in addition to the pairwise locators until a future AIP deprecates that system.
Makers should only announce tokens if they support all of their pairwise markets.
The maker sets their protocol as they do in
Makers can remove tokens individually or all at once.
Makers are responsible for not adding a token twice, and if they do they can correct the issue by removing all duplicates and then re-adding.
The current locator design has a quadratic cost to creating new pairs, and the gas cost per pair is 975,448. Further, each pair has to be indexed in both directions. Between 38 tokens there are 1406 pairs, and that many
createIndex would cost over a billion gas, which is 21 ETH at 15 gwei.
The staking means demand for AST, while discouraging spam that would clutter client software; when makers unstake they cleanup the registry on their way out.
Copyright and related rights waived via CC0.