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EOS.IO formulas for converting EOS to RAM and viceversa imply that the quantity
[RAM reserve]x[EOS reserve in connector] remains constant.
It was very complicated to read this from the code!
However, it looks like it would be very simple to implement the conversion EOS/RAM directly from that formula.
Why do we need a relay?
True. no need to go through the relay if you don't sell or buy the relay token (RAMEOS) directly. The formula can be changed to:
amount_from / (balance_from + amount_from) * balance_to
see this patch: https://github.com/bancorprotocol/eos/commit/de4cae5ebc2a0ee5b40f81241bf5842519cd0e9c
(it also includes a fix for buyrambytes inaccuracies - see convert_quick_inv)
