What you seem to ignore is that a big part of community is mayge going soon to lose their investment thanks to this experiment.
I really can't understand how easily people are taking this event who are not concerned themself.
The 90% drop is irrelevant.What is relavant is the fact that the CR was 1.75 when the price was 0.62 cny before the heavy drop.Dropping from 0.62 to 0.44 is not 90% but just 29% which nearly triggered the global settlement.
The drop was quickly and steady thats what was diffrent than before.I said it before in a bigger movement down BSIP42 will create a big margin wall which won't be able to get filled anymore.
Also the current feed price manipulation has no borders at all.A CR of 2.3 which makes people comfortable in a sideway market can get tomorrow margin called because the manipulation which we saw up to 40% are unpredictable and not user/noob friendly.
If you want a tighter peg i have no issue with that but not by putting investors money in risk and creating a setting where nobody is able to predict which dynamicly changes will be tomorrow so he can adjust his risk accordingly.
3) How do we make sure margins are eaten? In my view the current '10% below feed price" is not working as that can often match the DEX price. I would propose this is changed to '10% below the lesser of the feed price or the DEX market price'. Margins being sold as we drop is critical and I think that has been the main thing that has brought us so close to GS.
Thats something which bitcrab is against heavily.
Please also compare our decentralised and blockchain checkable stablecoins against USDT with its endless audit dramas.
Currently i feel safer holding USDT than bitusd.USDT has clear rules which won't be changed.The only question there is if each USDT is really backed by 1 USD.
At BitUSD you have now the big risk of a black swan and the uncertainty which rules are going to be changed.
There were talks about allowing the CR do go under 1 and other proposals which purpose is to weak the 100% backed promise.