What is Gridcoin?

If you've never heard of Gridcoin, it's a cryptocurrency that securely rewards BOINC computation (31 supported projects such as attempting to solve Cancer/AIDS/Ebola/Malaria, mapping the milkyway, folding proteins, cracking enigma codes, etc) on top of Proof of Stake. BOINC statistics are gathered directly from the project servers & all nodes agree on a daily superblock containing verified team statistics. More info on Gridcoin.

What is an Marked Pegged Asset (MPA)?

An Market Pegged Asset (MPA) is a cryptocurrency whose value is pegged to that of another asset, such as the US Dollar or in this case Gridcoin. MPAs always have 100% or more of their value backed by the BitShares core currency (BTS) to which they can be converted at any time at an exchange rate set by a trustworthy price feed (provided by Bitshares witnesses).

In all but the most extreme market conditions, MPAs are guaranteed to be worth at least their face value (and perhaps more, in some circumstances). Like any other cryptocurrency, MPAs are fungible, divisible, and free from any restrictions.

For those not familiar with Market Pegged Assets, no additional Gridcoin have been issued (the existing Gridcoin coin supply has not been inflated).

Why was the Gridcoin community interested in creating an MPA on the Bitshares platform?

So the 'GRIDCOIN' MPA is now live?

Yes, Gridcoin was added to Xeroc's python price feed scripts in the 0.4.4 release and we have a witness actively publishing a price feed for the 'GRIDCOIN' MPA.

The 'GRIDCOIN' MPA is thusly live on the Bitshares DEX; you can actively buy/short/borrow it on the Bitshares platform.

Why is the Gridcoin MPA special?

The GRIDCOIN MPA was the first MPA to surrender the following permissions (all other Smartcoins/MPAs still have these permissions):

Require holders to be white-listed

Issuer may transfer asset back to himself

Issuer must approve all transfers

Disable confidential transactions

Additional changes to the Gridcoin MPA

Minimum feeds: 1 (down from 7)

(down from 7) Force settlement delay: 7 days (up from 1 day)

(up from 1 day) Force settlement offset: 0.1% (up from 0%)

(up from 0%) Max force settle vol: 0.1% (down from 20%)

(down from 20%) Short backing asset: BTS

Note: If any of the above settings are a concern, please do speak up in this thread & I'll consider changing them, thanks :)

To all Bitshares witnesses

Please consider adding Gridcoin to the list of cryptocurrencies you provide price feeds for - if you do so I'll look into voting for you, thanks.

Have we established a bridge/gateway yet?

Not yet, we are currently investigating integration into CCEDK's Openledger to acquire an OPEN.GRC asset to act as our bridge onto the Bitshares DEX from the Gridcoin blockchain.

If you have any questions please do reply to this thread, thanks :)

Best regards,

CM.