why don't we improve step by step?
I guess reduce MSSR will be more easy to reach the concenses.
But dynamic tuning the MCR is not acceptable for me, at least you need to give enough time to the shorters before adjustment the MCR.
you just can't make me margin call when you decide to increase the MCR next seconds. I consider this as manipulation.
I understand that letting witness tune MCR introduce much uncertainty, so now in my mind it will be better if we can do this in another way, like:
1.witnesses just feed market price and premium.
2.system tune MCR periodically based on the fed premium, for example the rule can be: system adjust MCR every hour, if premium is inside -2%-1%, do not adjust the MCR, otherwise, tune it 0.001(start point 1.75) to according direction.
maybe need to set max and min limit on MCR, for example 1.25-2.
however I am not sure whether this is technological possible and whether community can reach consensus on this.
This sounds like the most reasonable proposal I've seen from you @bitcrab:
- it requires honest market price reporting
- it sets limits on MCR adjustment
- preserves baseline collateral at 1.75
Clearly trade-offs are required between various "feed factions" that want their advantage / opinions implemented. This is easier to understand, easier for witnesses. Will it work?
Depends on the goals you have. We need to define those, otherwise we'll all vacillate between appeasing one camp or another.
Main things we need to define is what is minimum safety - i.e. absolute limits on MCR and how tight the peg must be held.
Another consideration is do we need to define different sets of limits when market is "volatile", and how to define what metrics to use to say market is volatile. You could define criteria that sets a boolean "isVolatile" flag, or, it could be an analog value from 0 (stable) to 1 (volatile). Perhaps this is same or similar to what is now labeled "premium". Can't say I understand how "premium" is calculated and what factors are involved.
Also, why not publish a report to describe all this great knowledge learned from experimentation so we ALL can learn? Still waiting on that. If you've learned so much please summarize these "golden lessons" for those of us with lessor economic skills. Please help raise our understanding with a summary.