bytemaster posted for pages and pages trying to convince me that the escrow fund model wouldn't work. I convinced him that it would work when it was over-funded. d'aniel described an attack vector which would cause it to collapse when under-funded.
Due to this attack, if the escrow fund ever falls to 100%, the stabilized currency will need to be dissolved. There were several strategies discussed to make sure that the escrow fund starts out over 100% and tends to stay above that threshold, so the base idea should still be workable.
The end result is that the spec will need to be updated with a few changes to avoid this vulnerability. I had agreed to a bounty in theory if you guys approved and someone could find a chink in the armor, but we hadn't officially set a number when the attack was posted.
I proposed 3BTC for bytemaster for being fanatically persistent, even though he didn't actually come up with the attack, and 3 BTC for d'aniel for actually describing how such an attack would work.
With that, I'm going offline for a few days (we're headed to a family reunion). I'll try to catch up on everything on Monday.
P.S. 25 more BTC was sent to the Exodus address a few minutes ago :)
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