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System Service Payment

The "System Service Payment" module is a system smart contract responsible for processing payments for services of Ace Network.

This smart contract is used solely for processing payments in favor of Ace Network. It should be noted that this does not include any mutual payments between network users, as well as payments for services in which DAO Ace Stream does not receive a fee (for example, system payments related to prediction market).

Payment Algorithm

  • if the payer has enough XAC then only XAC are used
  • if the payer is short of XAC then the difference is paid with XAT:
    • the required amount of XAT is calculated with the exchange module
    • this amount of XAT is being charged from the payer and burned
    • if the lockedPool is not empty then the same amount of XAT is put into circulation (moved from lockedPool to unlockedPool)
    • if the lockedPool is empty (i.e. all XAT are already unlocked) then the corresponding amount of XAC is automatically created and credited to the system pool targetPool (to be distributed by the terms of Ace Assets)

Pseudocode

def makeSystemServicePayment(sourceAccount, amount, targetPool):
    """
    sourceAccount - the payer account
    amount - amount of payment in XAC
    targetPool - system pool that will receive the payment
    """
    if sourceAccount.balance.xac >= amount:
        # Source account has enough XAC

        # Move `amount` XAC from the source account to the target pool
        sourceAccount.balance.xac -= amount
        targetPool.balance.xac += amount
    else:
        # Source account doesn't have enough XAC

        # Amount of XAC user has
        xacAmount = sourceAccount.balance.xac

        # Amount of XAC needed to complete the payment
        amountLeft = amount - xacAcount

        # Amount of XAT needed based on system DEX exchange rate
        exchangeRate = DEX.getRate('XAC', 'XAT')
        xatAmount = amountLeft * exchangeRate

        if sourceAccount.balance.xat >= xatAmount:
            # Move `xacAmount` XAC from the source account to the target pool
            sourceAccount.balance.xac -= xacAmount
            targetPool.balance.xac += xacAmount

            # Burn `xatAmount` XAT from the source account
            sourceAccount.balance.xat -= xatAmount
            System.BLACKHOLE.balance.xat += xatAmount

            if System.lockedPool.amount >= xatAmount:
                # Unlock `xatAmount` XAT
                System.lockedPool.amount -= xatAmount
                System.unlockedPool.amount += xatAmount
            else:
                # How many XAT to unlock (all available)
                toUnlock = System.lockedPool.amount

                # How many XAT should be replaced with XAC
                xatToReplace = xatAmount - toUnlock

                # Unlock `toUnlock` XAT
                if toUnlock > 0:
                    System.lockedPool.amount -= toUnlock
                    System.unlockedPool.amount += toUnlock

                # emit `xacToEmit` XAC based on system DEX exchage rate
                xacToEmit = xatToReplace / exchangeRate
                targetPool.balance.xac += xacToEmit
        else:
            raise Exception('not enough tokens')

Examples

Examples are available here