Market Parameters

As we’ve mentioned at various times in the previous chapters, the data market is governed by a set of a parameters dictated within Parameterizer. These parameters govern the function of the market by setting various critical settings. These parameters can be modified via a stakeholder vote.

In this chapter, we’ll review the parameters that govern the data market. Most of these should seem similar, since you’ll have run into them already earlier in the book.

stake

stake: wei_value

The stake (in MarketToken wei) needed to issue a challenge to a listing. This parameter is of type wei_value

vote_by

vote_by: timedelta

The time (in seconds) that a poll should remain open. This controls the length of the voting window in which council members can vote upon an Market listing, challenge, or reparameterization. This parameter is of type timedelta

plurality

plurality: uint256

The percent (whole number between 0 and 100) of the vote needed by a candidate to pass in a poll. This parameter is of type uint256

price_floor

price_floor: wei_value

The price floor for purchasing MarketToken via the algorithmic price curve. This parameter is of type uint256

spread

spread: uint256

The spread which is rewarded to the market when purchasing MarketToken via the algorithmic price curve. This parameter is of type uint256

list_reward

list_reward: wei_value

The number of new MarketToken wei that are minted when a listing is listed. This parameter is of type wei_value

cost_per_byte

cost_per_byte: wei_value

The cost to purchase a byte of data from the market. This parameter is of type wei_value

backend_payment

backend_payment: uint256

The percentage of a delivery payment that’s alloted to the backend. Must be a percentage between 0 and 100. This parameter is of type uint256

maker_payment

maker_payment: uint256

The percentage of a delivery payment that’s alloted to the maker. Must be a percentage between 0 and 100. This parameter is of type uint256

Reparameterization

All market parameters can be changed with a vote. The process of changing data market parameters is referred to as reparameterization. The same voting mechanism is used for reparameterization as for other market processes. That is, a reparameterization candidate is created, and put up for vote as described in the voting chapter

Last Thoughts

We’re finally done learning about all 7 contracts in the Computable ecosystem! This is a big milestone. At this point, you should have gained an understanding of the on-chain economic dynamics that control a data market. This means it’s now time to start learning about the off-chain parts of a data market. In particular, let’s pin down what a datatrust’s off-chain parts actually do. You’ll learn more in the next chapter.