First I would like to state my point of view before making the idea available for someone with 1000 gNSBT to be interested in expounding the vote.
Today the market price of USDN is at ~0.50 cents. By BR the $SURF is at ~0.05 resulting in a price in the SC of ~0.05 USDN and equivalent to ~0.025 in USD. In the AMM the $SURF price is below the SC price.
There are about 170M $SURF issued in circulation, equivalent to 8M USDN.
With 170M USD, or 340M USDN today, even on the criteria of buying the total amount would be 700M, which can be higher if purchases are split.
In the Swap condition, with the existing “protection”, the result wouldn’t be much different, with the additional of forcing the $SURF price down in the AMM and also of $WAVES, something that won’t be different with the basket of assets, making the recovery of the $USDN price more and more difficult, even with the change to $WINDEX.
An interesting point is that the lower the BR, the less attractive is the $SURF leading users to avoid SWAP for arbitrage due to the distance from the conversion point, even if it represents an absurd profit, i.e., arbitrage reduction or acquisition.
Thus it is interesting to reduce $SURF issuance in low BR, and increase as BR rises, encouraging the price of $SURF in AMM to follow the price in the Smart Contract of issuance.
The first rule to think about is the $USDN → $SURF direct purchase rule that must follow a similar rule that exists in the quantitative swap.
The second rule to think about, since the deactivation of the “protection” was disapproved, requires at least a more coherent adaptation, because in the first place, the closer to BR 1.15 the more attractive for those arbitraging the $SURF, even if the gain is lower, the probability is always higher.
Then, it is convenient to force the average price of obtaining $SURF to rise so that the AMM follows this equivalent average, and the lower the BR the scarcer it is to be obtained, that is, now with BR at 0.06, the $SURF at a cost of 0.06 USDN or 0.03 USD would be limited to 6% of the swap, gradually at BR 0.10, limited to 10% and consequently the other 90% in waves or in the assets of the future basket.
This change will encourage arbitrage, swap raising the share and consequently the BR, which fatally will not be overnight, however, in a position of BR 0.50 the amount issued of $SURF will not be higher, but the participation within the swap will be higher, the average acquisition value will rise, the proximity to the point of refund will be closer, despite a smaller gain, but with less feeling of fear of the future of $SURF, the liquidity and usage of AMM will intensificate, and the gigantic amount of WINDEX/USDN generated by converting $SURF at BR 1.15 will not be absurd to the point of becoming a monster to be dealt with, thus being easier to deal with.
Of course, when reaching a very linear approximation to the conversion point, the issue will be modified, as the issue of $SURF will be terminated.