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Howto-propose-committee-actions.md

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This page shows how the committee account can act using the proposed transaction system. Specifically, as an example I'm using the creation of BitShares proposal 1.10.21, a proposal to update a committee-controlled BitAsset to reduce maximum_force_settlement_volume for asset CNY from 2000 (20%) to 200 (2%).

First check the asset to see what its current configuration is:

>>> get_asset CNY
{
  ...
  "bitasset_data_id": "2.4.13"
}

Then check its bitasset object to get the currently active options:

>>> get_object 2.4.13
{
  ...
    "options": {
      "feed_lifetime_sec": 86400,
      "minimum_feeds": 7,
      "force_settlement_delay_sec": 86400,
      "force_settlement_offset_percent": 0,
      "maximum_force_settlement_volume": 2000,
      "short_backing_asset": "1.3.0",
      "extensions": []
    },
  ...
}

Then do update_bitasset to update the options. Note we copy-paste other fields from above; there is no way to selectively update only one field.

>>> update_bitasset "CNY" {"feed_lifetime_sec" : 86400, "minimum_feeds" : 7, "force_settlement_delay_sec" : 86400, "force_settlement_offset_percent" : 0, "maximum_force_settlement_volume" : 200, "short_backing_asset" : "1.3.0", "extensions" : []} false

If this was a privatized BitAsset (i.e. a user-issued asset with feed), you could simply set the broadcast parameter of the above command to true and be done.

However this is a committee-issued asset, so we have to use a proposed transaction to update it. To create the proposed transaction, we use the transaction builder API. Create a transaction builder transaction with begin_builder_transaction command:

>>> begin_builder_transaction

This returns a numeric handle used to refer to the transaction being built. In the following commands you need to replace $HANDLE with the number returned by begin_builder_transaction above.

>>> add_operation_to_builder_transaction $HANDLE [12,{"fee": {"amount": 100000000, "asset_id": "1.3.0"}, "issuer": "1.2.0", "asset_to_update": "1.3.113", "new_options": { "feed_lifetime_sec": 86400, "minimum_feeds": 7, "force_settlement_delay_sec": 86400, "force_settlement_offset_percent": 0, "maximum_force_settlement_volume": 200, "short_backing_asset": "1.3.0", "extensions": []}, "extensions": []}]
>>> propose_builder_transaction2 $HANDLE init0 "2015-12-04T14:55:00" 3600 false

The propose_builder_transaction command is broken and deprecated. You need to recompile with this patch in order to use the new propose_builder_transaction2 command which allows you to set the proposing account.

Then set fees, sign and broadcast the transaction:

>>> set_fees_on_builder_transaction $HANDLE BTS
>>> sign_builder_transaction $HANDLE true

Notes:

  • propose_builder_transaction2 modifies builder transaction in place. It is not idempotent, running it once will get you a proposal to execute the transaction, running it twice will cause you to get a proposal to propose the transaction!
  • Remember to transfer enough to cover the fee to committee account and set review period to at least committee_proposal_review_period
  • Much of this could be automated by a better wallet command.