As I understand it that was I3 covering for all the existing shorts that were grandfathered into the system.I'm not sure exactly how this works. So are these positions going to be held until the grand-fathered shorts are eventually covered? Effectively reducing the floating supply?
Just adding to this question, scanning through the shorts there appear to be well over 200K+ in grandfathered shorts. So 80K in buys would not be enough. Will there be more accumulated until the grandfathered positions are fully covered?
If that were the case then we could guarantee from that point forward that any seller will be able to receive the peg price on exit if their order sits (and adjusts with the feed) for up to 30 days. That would be great for buyer confidence.
Something else just struck me - until the grandfathered shorts actually roll off however, the interest paid by new shorts will be spread over a base supply of BitUSD that is larger than it needs to be, diluting the interest earned.