I have also proposed an email alert list: https://bitsharestalk.org/index.php/topic,20609

That one could be also used for informing exchanges about any changes they might need to know.

Then we should have market making in the CNY/USD market where the risks are lower.

That market seems to be nonexistent. Why? The risk really is lower because price changes are so slow compared to cryptos. Even people without bots could trade them. Just leave the bids 5 % from the spot and check every now and then if the price has changed and adjust your bids if needed.

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What is needed to bring Stock derivatives online?

You would need at least $50k worth of stocks in you possession to back you up, and ability to buy and sell them on exchanges promptly. You would need to collateralise your derivatives at 200% in bitshares. Do you have these funds?

No need to have both. If you are going to do a market pegged asset, you preferably need some BTS to create the initial batch of assets that are sold on the exchange. That way you'll kickstart the markets.

Or you have a fund that owns real stocks and you sell shares of that as a UIA. Will be more difficult to do because of regulations, but not necessarily impossible. When the wallet has KYC/AML-feature implemented, this might be a feasible project.

The bitassets created would get sold on the market at say feed price +7% and then the bts from that sale returned to the reserve pool or fee pool.

A committee run account would have create these new bitassets and once created and sold that account would have 300% collateral positions for the 100% bitassets it created.

On telegram with @mindplux @iHashFury  we discussed the idea of a committee controlled account which could create  $50,000 bitUSD and then destroying the private key for that committee controlled account.

This would create a good base supply of bitusd to jumpstart the dex and get it moving.  If a worker proposal wasn't continuous and  ended it would still be providing liquidty because there would be more bitassets sloshing around in the system in general.

However! those 300% ($150000) worth of BTS would be lost forever. so the equivalent of a burn really. 

You could offset this loss/burn by adding a recurring payment from the committe controlled account that gets deleted so that any bts from forced settlements in the committee account would be returned to the reserve pool.

I think this idea could make sense as a one hit or injection of liquidity to the dex.

I'm not very enthusiastic about burn workers in general, but if we are going to have one, this is the best option presented so far. Of course it's best to first create some MPA's, sold them on the exchange and then burn the BTS, rather than burn the BTS immediately without any additional benefits.

But maybe we don't really need classic "blockchain programming" to be able to implement & deploy our ideas expressed in BSIPs.
Maybe all that's needed is the ability to construct new smart-contracts, create new types of operations and thoroughly test them.

Just like Android - it took the most talented coders to create the platform. But building apps on it is not so demanding.
Maybe with Graphene this contrast is not so extreme but still I guess the most difficult task of designing & building the platform has been done. Now we need coders who will just make use of it.

At first we need just somebody who can build the app, Cryptonomex can check and test the code when it's ready.

My preference is that as a committee we would simply sell the assets back into the market and use those funds to fund the fee pool.

If we went further than that the smart thing to do would be to start with our largest bitasset that also tends towards being overpriced.  Specifically bitusd.  The fair thing to do, would be to spend the proceeds of each assets fee pool on extra liquidity for that asset.

I also think that this is very reasonable thing to do at this moment.

Quote from: Samupaha on January 02, 2016, 07:34:20 am

Quote from: bytemaster on January 02, 2016, 12:32:29 am

Within the realm of a DEX there are several business opportunities I could pursue:

1. Become a licensed money transmitter and host our own wallet.  Under this model I would be competing with OpenLedger and others.
2. Create, Market, and Promote Prediction Markets.  Under this model I would be operating something that could be perceived as gambling. This is a business area that is not safe to enter in the US. 
3. Attempt to become a market maker.  This is not my area of expertise and requires significant capital and liquid markets.
4. Build another business on top of the BitShares network.

What about creating new features with FBA and demanding a fair share of the FBAs as a salary? If the feature is successful, you'll get automatic income. You don't have to build the features all by yourself, but only to help others to build their businesses.

MAKER is such an effort, but it seems no much fund has interest in it. See https://bitshares.openledger.info/#/market/MAKER_BTS

MAKER is still completely Cryptonomex project. I meant more like a consulting job, where the salary is not cash (at least only), but FBAs. So basically Bytemaster will get royalties every time people use those features that he has consulted. If Bitshares will be successful, some of those features will be also very successful and bring lots of money for FBA owners.

The biggest reason MAKER hasn't got any interest is that it isn't marketed yet in any way. Most of the forum users don't know how much worth it is, and pretty much every outsider doesn't even know that it exists.

So how we'll get things going with this?

Now that I've thought this little bit more, I think there is no need to limit this only to be used with MPAs – this should be available for all assets. Anybody should be able to start a savings club with any asset they want.

FBA probably goes very well with this. It will create incentive for FBA owners to market this feature and bring lots of users for Bitshares. FBA owners recieve a percentage of the profits that a club makes. If every club member does "proof of life" and doesn't claim early, there are no profits, so in this case FBA owners don't get anything.

How fast it's possible to build a simple "proof of concept" smart contract on the blockchain? No need for anything fancy, starting a club doesn't need GUI, but investing in a club should be easy. But probably nothing more complicated than "send money to this address and you're in"? Of course we need some kind of tools for early claims and proofs of life.

In the first version is enough if there is only one kind of club. Something like: starts on the first day of month (so that every month new clubs can be created), lasts one year, 20 % fee in case of early claim, one month reserved for proof of life.

If this becomes successful and people are interested in it, we can add possibility to adjust starting day and length of the contract, percentages for early claim, etc.

This is exactly the kind of project that I want to see this year. Simple smart contract, shouldn't be too difficult to build, doesn't need any excessive infrastructure around it, concept is easy to grasp, creates profits for Bitshares by increasing transfers and helps BTS price to go up by locking funds for a long time.