Moxie Official

airstack

Web3 Voyager, next Enjoyer 🧐
Love the frames 👌 Father of 1 

Thanks for your patience! We spent the last 4 hours testing everything, running simulations, and auditing every transaction

Here's what we uncovered.

First, the Moxie bonding curve protocol contract is working 100% correctly. Buys increase the price, Sells decrease the price. Every day.

What was wrong was the way the subgraphs we use are calculating the price changes, which is used to display it on the front end. Long story short is the price was being calculated based on an average price of what was bought or sold and rather than a precise movement on the curve. That caused big buys or sells to skew the calculated price for the next buy or sell after a big order was filled. Every one of the examples you show above was caused by a big order preceeding the "wrong way" displayed movement.

We are working on a fix for that so everything displays properly and we'll also share the complete order history audit once we have that, showing the before and after.

Thanks for point it out @checkpoint !

We just pushed fix for this in the subgraph. Again, Contract were working as expected.

Problem was price calculation logic previously averaging the price based on last order. This will be problem for high quantity orders. 
Now we are using actual formula mentioned in this paper.  

You can read more about the fix here.
https://github.com/moxie-protocol/Subgraphs/pull/36

Paper: https://meissereconomics.com/assets/abfe-lesson5-bancor.pdf