updateCollateral

$updateCollateral(collateral,retrievalIds[],metadataHash, validators[],timestamps[],signatures[]): minimumTimestamp$

• Callable by $minter$ approved by TTG

• Closes all pending $retrievalIds[]$ requests

• Updates $CV_{minter}$

• Accrues $penalty_{minter}$ for missed update collateral intervals and/or $excessOwedM_{minter}$ if present before $CV_{minter}$ is updated

• Called at least once per $updateCollateralInterval$ by Minter or $missedCollateralUpdatePenalty$ is imposed on the entire $activeOwedM_{minter}$ since the collateral of minter is 0 if failing to call $updateCollateral$ once per $updateCollateralInterval$

  • Gets $updateCollateral$ message digest for each validator $signature$

  • Verifies that each signature is valid, unique, and is not in the future, and is coming from TTG-approved $validator$

  • Verifies that at least $updateCollateralThreshold$ of valid unique signatures of TTG-approved $validators$ were provided and Finds the $minimumTimestamp$ of given $validators$' $timestamps[]$ .

  • Calculates current $activeOwedM_{minter}$, and Imposes $missedCollateralUpdatePenalty_{minter}$ for every missed and not yet penalized update collateral interval. Updates $penalizedUntilTimestamp_{minter}$ if a penalty was imposed. $missedCollateralUpdatePenalty_{minter} =activeOwedM_{minter} * missedIntervalsNum * penaltyRate$ where $penalizeFrom_{minter}=max(lastCollateralUpdate_{minter} , lastPenalizedUntil_{minter})$$missedIntervalsNum =(now-penalizeFrom_{minter}) / updateCollateralInterval$$penalizedUntilTimestamp_{minter} = penalizeFrom_{minter} + missedIntervalsNum * updateCollateralInterval$

  • Calculates current $excessActiveOwed_{minter}$ Imposes $undercollateralizationPenalty_{minter}$ if $excessActiveOwedM_{minter} > 0$ and $penalizeFrom_{minter} < minimumTimestamp$ where $excessActiveOwedM_{minter}=activeOwedM_{minter}-maxAllowedActiveOwedM_{minter}$$penalizeFrom_{minter}=max(lastCollateralUpdate_{minter} , lastPenalizedUntil_{minter})$

    $timeSpan=minimumTimestamp-penalizeFrom_{minter}$$undercollateralizationPenaltyBase=excessActiveOwedM_{minter}*timeSpan / updateCollateralInterval$

    $undercollateralizationPenalty_{minter}=undercollateralizationPenaltyBase*penaltyRate$

    $activeOwedM_{minter} +=undercollateralizationPenalty_{minter}$$totalActiveOwedM+=undercollateralizationPenalty_{minter}$ After penalization new $activeOwedM_{minter, t1} =activeOwedM_{minter, t0}+ undercollateralizationPenalty_{minter}$

  • Resolves pending retrievals. Deducts the amount of retrieval from $totalPendingCollateralRetrievals_{minter}$ for every retrieval. Deletes $retrievalId$ from $pendingCollateralRetrievals_{minter}$ $totalPendingCollateralRetrievals_{minter} -= ∑_{i}retrieval_{minter, retrievalId[i]}$

  • Verifies that $minimumTimestamp$ is greater than $earliestAllowedTimestamp_{minter}$$lastUpdateTimestamp_{minter}=max(lastCollateralUpdate_{minter} , latestProposedRetrievalTimestamp_{minter})$$minUpdateCollateralInterval=min(updateCollateralInterval, now)$$earliestAllowedTimestamp_{minter}=max(lastUpdateTimestamp_{minter}, now-minUpdateCollateralInterval)$

  • Updates $CV_{minter}$: $CV_{minter}=collateral$

  • Updates $lastCollateralUpdate_{minter} =minimumTimestamp$

  • Calls $updateIndex$

  • Returns $minimumTimestamp$.