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Copy file name to clipboardExpand all lines: HIP/hip-1264.md
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@@ -58,7 +58,6 @@ Alternative designs considered:
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- As a user, I want to send a specific dollar amount to someone without having to calculate HBAR conversions or worry about price changes between transaction creation and execution (e.g., long lasting scheduled transaction)
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- As a developer, I want to set network fee limits in dollars so that my applications don't fail when HBAR prices change and my preset limits become insufficient.
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- As a developer, I want to avoid conversion bugs in my application by letting the network handle HBAR-dollar calculations at consensus time with provable accuracy and exchange rate.
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- As a developer, I want to my smart contracts to manage and transfer dollar amounts without relying on 3rd party owned oracles.
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## Specification
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- Transfer amounts in `CryptoTransfer`
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- Custom fees in token creation and updates
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- Scheduled transaction amounts
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- Smart contract value transfers
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All existing HBAR amount fields support dollar denomination:
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## Open Issues
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-**Precision Handling**: Specification of decimal precision and rounding rules for dollar amounts
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-**Exchange Rate Oracle Update Frequency**: A [preliminary analysis comparing the current HBAR Oracle with market prices](https://internetofpeers.org/hedera-hbar-exchange-rate-oracle-analysis/release/) (*) shows that the current situation (% gap) is probably good enough for retail use cases. Incrementing the update frequency of the exchange rate would probably be beneficial for enterprise use cases. Switching to a 30-minute update would make a significant difference. With a 15-minute update, enterprises would likely adopt this without hesitation. It is probably important this decision is included in this HIP.
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-**Precision Handling**: Specification of the rounding rules for dollar amounts
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-**System TokenID Range**: Final determination of whether to use `max uint64` and below values or system account range (e.g., `0.0.150`) for fiat currency identifiers
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-**Future Currency Support**: Preparing the field for additional fiat currencies beyond USD
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-**Creating dedicated protobuf fields for HBAR-only fields**: The TokenID solution allow using USD when it is possible to use a token, but it does not allow to define USD for HBAR only fields, like for example max transaction fees.
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(*): We'll be able to update the link and point to the hips.hedera.com domain as soon as the first PR is merged.
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## Possible evolutions not included in this HIP
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-**Support system token IDs on the HTS system contract**: Smart contracts can already call the exchange rate system contract to compute the correct amount of dollars if they want, so having a dedicated token to move around is something useful and _cleaner_ than a custom made integration, but it's not essential having this from the start. This can, though, be implemented with a future HIP if and when the community asks for it.
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-**Future Currency Support**: While preparing the field for additional fiat currencies beyond USD is considered in-topic, actual support for more FIAT currencies is out of this HIP.
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## References
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-[Hedera Exchange Rate API Documentation](https://docs.hedera.com/hedera/sdks-and-apis/rest-api#exchange-rates)
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