Why is the margin call price for cny 0.0202 BTS/CNY. I just had a one of my short positions called even though my margin price was 0.025 BTS/CNY which the market never hit and the collateral was sold at 0.0202 BTS/CNY. I just lost a lot of money...
Clout what was your collateral?
If it was only 2Xs, its probably not enough. It might need to be 5X's in this thin market.
Bitshares has been 3X collateral for the past two years it makes no sense why in 2.0 you would need 5X. The whole point of the upgrade was so that less collateral would be needed. I'm literally done. I don't think I can endorse this project.
You do not need 5x, you need 1.75 *1.5 =2.62x. That's with the current maintenance and squeeze protection ratios defined by the witnesses.
Several things are bothering me about the current market engine though:
1. Margin called shorts cannot force cover at a fair price, but only at a price between their call price and feed + 50%. In BTS 1.0 this range was from feed to feed + 10% (unless I misunderstood that too)
2. Margin called shorts do not use the holder's current stock of bit assets to cover, but always buy on the open market at a premium.
3. The market engine allows margin positions to be opened at 1.75 collateral ratio, a position that gets margin called right away (I now prevent this in the GUI)
4. Probably most important: no one knew it worked like this before yesterday pretty much (including me)..