All-in-all decommissioning a chain will always be an upleasant task, some users will prefer the orderbook reset, others will prefer the immediate termination, etc.
It's not much different from real live (or Cryptostocks, question what's your suggested process on delisting securities on your exchanges? We might need to align ourself here not to generate too much confusion or misunderstandings in the community) , when a security gets delisted on an exchange, the exchange doesn't delete the orderbook and then reopens it for a short time to let some of the shareholders do a last moment transaction.
It's not much different from real live (or Cryptostocks, question what's your suggested process on delisting securities on your exchanges? We might need to align ourself here not to generate too much confusion or misunderstandings in the community) , when a security gets delisted on an exchange, the exchange doesn't delete the orderbook and then reopens it for a short time to let some of the shareholders do a last moment transaction.
That's an excellent question.
The stock/bond exchange doesn't have to worry about the 51% attack issues, so I figured it would be:
- clear order book
- announce delisting XX days in the future.
- allow trading for those days, with all traders taking the risk that the asset issuer will continue the asset after delisting.
- halt trading, still allowing asset issuer and asset holders to see what they hold when trading is stopped. (keeping in mind that on the exchanges I'm dealing with, all asset issuers can see their asset holders at all times)
- XX days (30? 90?) after trading was halted, remove the asset from the exchange.
The bots aspect worries me a bit, but bots have always been risky to operate, for a ton of reasons. I think it's the bot operator's problem if the bot tries to trade after the order book clears.
Cheers.
