Peg Migration

Detailed description of a SILK peg migration.


In order to initialize the target basket composition of SILK for the minting contract, a computation must be performed based on a list of currencies, their current prices, their assigned weights, and the nominal starting price of SILK. This is done by computing the respective currency amounts in relation to their desired proportion of the target peg price.

P = (price of currency A, price of currency B...price of currency N)

W = (weight of currency A, weight of currency B...weight of currency N)

T = starting target peg

Peg Migration

Reference Migration

In the event that USD is not longer used in oracles, it is important that there is an ability to migrate the underlying reference currency that the code uses. The following is the underlying formula:

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