How to use the command line interface

Cancel Quote

Note: This page describes how to use the 'mtm' command line executable. This binary is currently available for Linux only

To use mtm from the command line, you must have a synced Microtick node and you should to set the MTM_HOME environment variable to the same directory your synced node is using if it's not using the default location, for example:

$ export MTM_HOME=$HOME/testnet

Usage

$ mtm tx microtick cancel-quote <quote id>

Description

Cancels a quote and removes it from the market and the consensus weighted average. Note that a quote cannot be canceled until it's "Can Modify" time has been reached (default 30 seconds). More information on that on the Query Quote page.

If a quote has become stale (has not been modified in 2 times its duration) any third party can step in and cancel the quote. In this case a percentage of the backing is collected by the third party and is a strong incentive to keep quotes updated and accurate.

Quote Time Invariant

A quote may be canceled by someone other than the provider if the Time 2x limitation described below has passed:

  • Time 2x limitation.  A quote must be updated within 2x the time duration or anyone may cancel it and collect a percentage of the backing for the quote.  This helps ensure stagnant quotes will be removed from the marketplace.