Gringotts is using this formula to price M3 while trading is thin
M3=MS * (0.01*XMR/MK)
MS=CK money supply (4 trillion M)
MK=CK marketcap
With XMR=~140USD:
- assume MK of 500K USD -> M3=11.2 mil
- assume MK of 1mil USD -> M3=5.6 mil
Gringotts will target somewhere in that range until market activity picks up enough for real price discovery to take effect.
Our M3 inventory isn't that high, so while recent discussions regarding tokenization have been very encouraging, Gringotts will price things conservatively for now, especially given the recent change in XMR.
We don't want to run out of m3 before new players start depositing (hopefully soon!).
Other players are obviously free to price m3 as they wish.
edit: BUYSELL and SELLBUY commands aren't working