Debt cancellation

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Giovanni Parra

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Feb 21, 2017, 3:34:33 PM2/21/17
to Settle
I mean that if A owes 100 to B, B owes 120 to C and C owes 85 to A, then automatically A should owe only 15 to B, B should owe only 35 to C and C should owe nothing to A.

Is that something that protocol supports or plans to support? Something that the mints can automatically do by connecting with other mints?

I haven't get used yet to the concept of assets minted, but I guess what settle does is just pass assets emitted by one user to another user, right? In this case it should be possible for C to pay A with an asset emitted by B, and A would then pay its debt with B using these assets just received from C. Does that make sense?

Stanislas Polu

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Feb 22, 2017, 11:39:53 AM2/22/17
to Giovanni Parra, Settle
The protocol does not aim at being a market maker at all. We envision
actor of the market to be such market makers.

It is indeed possible for C to pay A with an asset emitted by B
assuming A trusts B.

-stan
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Giovanni Parra

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Feb 22, 2017, 2:30:53 PM2/22/17
to Settle
I'm happy with this solution. Make it simple.
External services can run debt cancellation strategies that offer cancellations in nice terms to users, so they can accept and do something like what I have described with the assets they're holding.
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