The primary purpose of the price discovery feature is to drive a constant flow of orders, both buys and sell orders at market price, to sample continuously the appetite of the market, and to use these samples to determine a continuous estimate of the true “market price” of ndau moment to moment, and then to use this estimate to dynamically drive monetary policy features such as SIB (Stabilization Incentive Burn), which depend directly on that estimate. A secondary consequence of the price discovery feature is that the market maker that can provide the tightest “spread”, is rewarded for increasing the general liquidity of ndau.
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