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The Syscoin Price Peg Server is a NodeJS application designed to allow for non-coders to quickly stand-up and configure their own peg-server; built atop Syscoin's decentralized price pegging system.

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Syscoin Price Peg Server

The Syscoin Price Peg Server is a NodeJS server application for maintaining a Syscoin "Alias Peg" on the the Syscoin network's blockchain. An Alias peg provides information to the network on how many Syscoins are needed to equal 1 unit of any other currency supported by the peg.


How it Works

The peg server uses data from multiple sources to derives the necessary values to convert values between various currencies. Fixer.io is used for all fiat currency conversion information, Coinbase is used for all BTC/USD conversion information, and a mix of Poloniex and Bittrex are used for all other blockchain currency information. The server watches each configured currency pair independently and when any one currency exchange rate moves outside the configured threshold the updated values are writted to the peg-alias on the Syscoin blockchain.

Installation and Setup (Ubuntu Linux)

Syscoin Price Peg Server installation requires NPM and Node 7+.

Note: Prior to setup make sure you have the latest versions of the required tools using the commands:

  • GIT: sudo apt-get install git
  • NodeJS/NPM
    • curl -sL https://deb.nodesource.com/setup_7.x | sudo -E bash -
    • sudo apt-get install -y nodejs
  1. If installing from source first clone the repository using git clone https://github.com/syscoin/pricepeg.git.
  2. Install the required dependencies using npm install.
  3. This guide assumes you have already installed the latest Syscoin wallet and created a Syscoin.conf file with the required parameters to enable its JSONRPC server functionality.
  4. The server comes with a default config.ini file which controls all aspects of the server, including which currencies it supports. For more information please refer to the configuration section.
  5. Update the configuration file to reflect the Alias you with to use as a peg and the currencies you wish to support. You MUST create the peg alias on the Syscoin network with a public value of {"rates":[]} BEFORE attempting to run Price Peg Server to manage it! The wallet responsible for maintaining the peg Alias must also have a minimal balance to support transaction fees associated with the aliasupdate operation (50-100 SYS per year recommended).

Supported Currencies

The full list of supported currencies can be found in src/common.ts: supportedCurrencies or in the table at the bottom of this page.

Running the Server

The Price Peg Server must be run as a daemon. There are two optons for this:

  • (Recommended) Install pm2 for better running and monitoring of the server in daemon mode.
    1. Install pm2 globall using sudo npm install -g pm2.
    2. Ensure pm2 is updated- pm2 update.
    3. Change to the Syscoin Price Peg Server directory using cd pricepeg. Run the server in daemon mode using pm2 start dist/server.js $CONFIG --name "pegserver" (may need permission).
    4. (Optional) You can now use pm2's tooling for insights on how many resources the Peg Server is using and even launch it in multiprocess or clustered mode.
  • If you use the screen application you can start the server by simply running screen npm run start. Make sure to detach from the screen without terminating it!

Server Configuration

The Syscoin Price Peg Server can easily be reconfigured with zero coding knowledge. Below are the configuration properties and options. The default configuration file can also be used as a reference.

We've also included some sample configurations to further illustrate how to customize the Syscoin Price Peg Server:

Property Name Description Default Value Required/Optional
currencies.[CurrencySymbol] Defines a currency to be supported by this peg server. Each currency entry should represent a seperate currency, and should define the CurrencyConfig to be used for that currency. [ ] required
maxUpdatesPerPeriod Maximum number of peg updates that will be allowed to occur in a single period 6 required
updatePeriod Duration of a single period in seconds 3600 required
updateThresholdPercentage Percentage at which an update is attempted, if value of any peg-supported currency's exchange rate changes +/- this range vs. what is currently stored in the peg alias 0.05 required
updateInterval Time in second to check for price change updates of a single period in seconds 300 required
pegalias Alias on Syscoin network to update monitor and update as an alias-peg pegtest1 required
pegalias_aliaspeg Alias on Syscoin network specified as the aliaspeg of the peg-alias. Typically the same value as pegalias pegtest1 required

enableLivePegUpdates Debug mode, disables live updates to peg on network true optional
enablePegUpdateDebug Debug mode, updates peg on set interval w fixed increment rather than market rates false optional
debugPegUpdateInterval Debug mode, how frequently to update peg in seconds 5 optional
debugPegUpdateIncrement Debug mode, how much to increment USD conversion 50 optional

rpcserver Syscoin JSONRPC host server localhost required
rpcuser Auth info for Syscoin JSONRPC username required
rpcpassword Auth info for Syscoin JSONRPC password required
rpcport Syscoin JSONRPC port 8336 optional
rpctimeout Syscoin JSONRPC server timeout 30000 optional
httpport Port from which the Syscoin Price Peg server will server HTTP content 8080 optional

logLevel Should define a LogLevel to control the verbosity of the log output logNetworkEvents=false
logBlockchainEvents=true
logPriceCheckEvents=true
logUpdateLoggingEvents=true
optional
debugLogFilename Name of the file that peg log output will be saved peg.log optional
updateLogFilename Name of the file that the peg-update-history will be written to; this differs from debugLogFilename in that it only contains the history of the peg-alias data, so that in the case of a server stop/start the history is maintained without needing to re-query the blockchain peg-update-history.log optional

Currency Config

Property Name Description Default Value Required/Optional
currencySymbol Symbol used to identify this currency on exchanges- ie: USD, EUR, SYS, BTC, etc. n/a required
isFiat Whether or not this currency is a fiat currency n/a required
dataSources Comma-delimitted list of exchanges from which to pull exchange values from for this currency. The results will be averaged for more accurate market pricing. Valid values are "Bittrex", "Poloniex" or "Bittrex, Poloniex" n/a optional - only required for non-fiat currency
escrowFee Percentage fee that arbiters will earn when their involvement is needed, specific to this currency n/a optional
fee Service fee associated with Syscoin services, specific to the alias peg and currency used n/a optional
precision Precision of currency conversion in decimals n/a required

LogLevel Config

Property Name Description Default Value Required/Optional
logNetworkEvents Should network events be written to the log- such as requests for exchange data, parsing that data, etc. false optional
logBlockchainEvents Should blockchain events be written to the log- such as queiries for data from the blockchain, the results of those queries, attempts to update blockchain data, etc. true optional
logPriceCheckEvents Should exchange price-check events be written to the log- comparing the current values stored in the peg alias to those being returned from the exchange data sources, if the price has changed outside the configured threshold, etc. true optional
logUpdateLoggingEvents Should history-update events be written to the log- attempts to read and write from the updateLogFilename and their success/failure true optional

IMPORTANT NOTE: Many properties that are typically required are marked as optional in the above table because the Syscoin Price Peg server has been developed in a way to provide all required values, in the form of their default values if the operator fails to override them (with the exception of CurrencyConfig. The server also has rudimentary configuration file validation- in situations where the server fails to start please review the output in the debugLogFilename for information on what the issues are with the configuration file.

Example Config.ini

Syscoin Price Peg Server is controlled through config.ini which uses the INI configuration file format. Below are some example configurations, for more info or questions please create an issue or ask in the Syscoin Slack.

Sample Config #1 - Peg supporting DOGE and USD with modified triggers.

  • Support DOGE and USD
  • Use peg-alias of "doge.peg"
  • Limit to 3 updates per period
  • Change update period to 3 days rather than the default 1hr
  • Change update threshold to 1% rather than default 5%
  • Change the auth info for server

;BASIC CONFIG
;maximum number of peg updates that will be allowed to occur in a single period
maxUpdatesPerPeriod = 3

;defintion of the duration of a single period in seconds
updatePeriod = 259200

;percentage at which an update is attempted, if value of peg fluctuates +/- this range
updateThresholdPercentage = 0.01

rpcuser = secretuser
rpcpassword = secretpassword
pegalias = doge.peg
pegalias_aliaspeg = doge.peg

;MODIFY BELOW SECTION TO CHANGE CURRENCY SUPPORT
[currencies.USD]
isFiat = true
escrowFee = 0.01
precision = 2

[currencies.BTC]
isFiat = false
dataSources = Poloniex, Bittrex
escrowFee = 0.01
fee = 75
precision = 8

Sample Config #2 - Peg supporting only XMR, ZCash, BTC, and ETH with modified triggers and logging customizations

  • Support XMR, ZCash, BTC, and ETH
  • Use peg-alias of "multicrypto.peg"
  • Change update threshold to 10% rather than default 5%
  • Change the auth info for server
  • Change LogLevel config
  • Change log file name

;BASIC CONFIG
;percentage at which an update is attempted, if value of peg fluctuates +/- this range
updateThresholdPercentage = 0.1
debugLogFilename = mypeg.log

rpcuser = secretuser
rpcpassword = secretpassword
pegalias = multicrypto.peg
pegalias_aliaspeg = multicrypto.peg

[logLevel]
logNetworkEvents = true
logBlockchainEvents = false
logPriceCheckEvents = true
logUpdateLoggingEvents = false

;MODIFY BELOW SECTION TO CHANGE CURRENCY SUPPORT
[currencies.BTC]
isFiat = false
dataSources = Poloniex, Bittrex
escrowFee = 0.01
fee = 75
precision = 8

[currencies.XMR]
isFiat = false
dataSources = Poloniex
escrowFee = 0.05
fee = 100
precision = 8

[currencies.ZEC]
isFiat = false
dataSources = Poloniex, Bittrex
escrowFee = 0.05
fee = 75
precision = 5

[currencies.ETH]
isFiat = false
dataSources = Poloniex, Bittrex
escrowFee = 0.1
fee = 200
precision = 5

Building

Syscoin Price Peg Server is built using Typescript and ES6. Developers are encouraged to extend and enhance the native functionality, or add more currency support. Devs will need to work in the native Typescript files then transpile the code for distribution. The only command needed to rebuild code after changes is npm run build to rebuild the source and all resources to dist.

Further Development

We encourage community contributon! If you wish to contribute please issue a pull request with your changes, the team will review and merge or provide feedback. All development should happen in the /src folder. All new files should be Typescript, using ES6 JS syntax.

Full Supported Currencies List

Symbol Name isFiat
USD US Dollar true
GBP British Pound true
CNY Chinese Yuan true
EUR Euro true
CAD Canada true
AUD Australian Dollar true
BGN Bulgarian Lev true
BRL Brazilian Real true
CHF Swiss Franc true
CZK Czech Republic Koruna true
DKK Danish Krone true
HKD Hong Kong Dollar true
HRK Croatian Kuna true
HUF Hungarian Forint true
IDR Indonesian Rupiah true
ILS Israeli New Shekel true
INR Indian Rupee true
JPY Japanese Yen true
KRW South Korean Won true
MXN Mexican Peso true
MYR Malaysian Ringgit true
NOK Norwegian Krone true
NZD New Zealand Dollar true
PHP Philippine Peso true
PLN Polish Zloty true
RON Romanian Leu true
RUB Russian Ruble true
SEK Swedish Krona true
SGD Singapore Dollar true
THB Thai Baht true
TRY Turkish Lira true
ZAR South African Rand true
AMP Synereo Amp false
ARDR Ardor false
BBR Boolberry false
BTC Bitcoin false
BCN Bytecoin false
BCY Bitcrystals false
BELA Bellacoin false
BITS Bitstar false
BLK Blackcoin false
BTCD Bitcoindark false
BTM Bitmark false
BTS Bitshares false
BURST Burst false
C2 Coin2.0 false
CLAM Clams false
CURE Curecoin false
DASH Dash false
DCR Decred false
DGB Digibyte false
DOGE Dogecoin false
EMC2 Einsteinium false
ETC Ethereum Classic false
ETH Ethereum false
EXP Expanse false
FCT Factom false
FLDC Foldingcoin false
FLO Florincoin false
GAME Gamecredits false
GRC Gridcoin Research false
HUC Huntercoin false
HZ Horizon false
IOC IO Digital false
LBC LBRY Credits false
LSK Lisk false
LTC Litecoin false
MAID Maidsafecoin false
MYR Myriadcoin false
NAUT Nautiluscoin false
NAV Navcoin false
NEOS Neoscoin false
NMC Namecoin false
NOBL Noblecoin false
NOTE DNotes false
NSR Nushares false
NXC Nexium false
NXT NXT false
OMNI Omni false
PINK Pinkcoin false
POT Potcoin false
PPC Peercoin false
QBK Qibuck false
QORA Qora false
QTL Quatloo false
RADS Radium false
RBY Rubycoin false
REP Augur false
RIC Riecoin false
SBD Steem Dollars false
SC Siacoin false
SDC Shadow false
SJCX Storjcoin X false
STEEM Steem false
STR Stellar false
STRAT Stratis false
SYS Syscoin false
UNITY Supernet false
VIA Viacoin false
WAVES Waves false
VOX Voxels false
VTC Vertcoin false
XBC Bitcoinplus false
XCP Counterparty false
XEM NEM false
XMG Magi false
XMR Monero false
XPM Primecoin false
XRP Ripple false
XVC VCash false
ZEC ZCash false

About

The Syscoin Price Peg Server is a NodeJS application designed to allow for non-coders to quickly stand-up and configure their own peg-server; built atop Syscoin's decentralized price pegging system.

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