How is the SPS Pirce Formed When Converting to DEC?
I vagly remember this was discussed a while ago, but just cant remember the exact mechanics.
So how is the SPS price formed for conversions? For the Hive users there this is the feed price for HIVE, that is 3.5 days historical average (median) taken from the top 20 witnesses that report the price in the period and act as price oracles.
Who is reporting the SPS price?
Are the new validators doing this?
I mean there is an option to report the price as validator, but is this acctualy implemented in the SPS feed price for conversios? What is the time frame for the price? I think I have something like 24H, but cant rememeber it for sure.
The price for converesions it a tricky thing, and many migh remember there was even an abuse for the GLX and GLUSD tokens via short term price manipulation.
I'm sure the Splinterlands team is well awere of this and has taken into account all the right moves, but if we clarify things a bit here, so I'm personaly more eductated and making the best out of these conversions.
@tipu curate
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I’m fairly certain Splinterlands retrieves those prices from its API (the fact that the DEC price is identical on both the website and the API suggests as much), but I honestly don’t understand how accurate it is in real‐world market conditions. For example, at the time of writing, the SPS “market” price returned by the API is $0.0129602, whereas the SPS price in the SWAP.HIVE/SPS pool is $0.0130879 (+0.986%), and the best bid in the SPS market is $0.0130223 (+0.479%). However, the implied SPS price is probably calculated using the HIVE price provided by the API as well, which is much closer than the HIVE price on centralized exchanges (~0.008% difference versus 0.479–0.986%). But what is the second component of the SPS price calculation? I can’t really tell. I have the same questions about the API pricing for BTC and SWAP.BTC (where the discrepancy exceeds 1.5%).