constants.adoc

// Constants used throughout the spec. Generally (though not always) correspond
// to tBTC system constants.

:signers: 3
:threshold: 3

// Overcollateralization constants. Changes here should probably change some of
// the content in bonding/index.adoc and signer-fees/index.adoc.
:extra-collateral: 50%
:per-signer-collateral: 50%
:total-collateral: 150%

// Liquidation constants.
:pre-liquidation-period: 6 hours
:pre-liquidation-threshold: 125%
:liquidation-threshold: 110%
// Should be the amount of collateral that would equal 100% of the lot size if
// current collateral value is {total-collateral}.
:liquidation-auction-start-percent: 66.6667%

// Deposit terms.
:term-length: 6 months

// Transaction proof requirements.
:tx-proof-difficulty-factor: 6 blocks

// Lots and signer fees.
:tbtc-lot-size: 1 TBTC
:btc-lot-size: 1 BTC
:signer-fee: 0.005 TBTC
:signer-fee-basis-points: 50
:tbtc-lot-size-less-signer-fee: 0.995 TBTC
:beneficiary-bond-payment: 0.0005 TBTC

// Redemption and BTC fees and fee increases.
:redemption-proof-timeout: 6 hours
:signature-timeout: 3 hours
// TODO: fill in real numbers for these two
:min-redemption-btc-fee: 2000 satoshi
:min-redemption-btc-feerate: ~20 satoshi/vbyte
:fee-increase-timer: 4 hours
:fee-increase-timer-times-two: 8 hours