below is the statistic of the trading of OMO fund up to today:
account trade type BTS quantity smartcoin quantity average price
committee-cnytrader buy 15581697.83 17901590.24 1.148 bitCNY
sell 1605097.827 963195.7544 0.60 bitCNY
committee-usdoperator buy 5968469.697 1059789.265 0.177 bitUSD
the sell come from margin call.
yes, OMO bought a lot BTS in obviously higher price comparing to today's BTS price, as most of the trading are done before 8th, Aug, at that time bitCNY is still in premium and it's not easy to predict that a big bear is coming to the market.
I believe either 1.148bitCNY or 0.177USD is not very high price for BTS, BTS will go above these prices in the future, and, more importantly, to provide liquidity of bitCNY and bitUSD, rather than making profit is the No.1 purpose of OMO.
we learnt a lot in the past several months, we saw that in the big bear market, OMO is not able to prevent BTS price from falling down rapidly, it is not able to prevent the speeding up margin call/price falling, however, after 719 hard fork and BSIP42 implementation, we saw that the rule change helps a lot to prevent the speeding up margin call/price falling in bear market.
rules here is much more important than fund, after 719 and BSIP42, the system itself can adjust the supply according to the demand, now OMO is not so necessary as we have imagined.
now another worker proposal that need a >100K BTS daily pay is under discussion, if finally it can be voted active I think it will be good for that worker proposal to replace the OMO proposal.