In the coming months, some important things will happen and give apparent impact on BTS ecosystem.
1. the hard fork in the second half of April.
As I know, some interesting features like market fee sharing(BSIP43) will become active after the hard fork, what I care most is that MCR will be changeable after the update.
Several months ago when the community discussed BSIP42, the possibility to adjust MCR dynamically has also been discussed,now when I review the discussed proposal, I think maybe it is not good to let witnesses adjust MCR frequently, it should be sufficient to follow BSIP59 to reach a consensus on a MCR value, and request witnesses to feed that value.
In community discussion, seems 1.6 is an appropriate value for bitCNY, I plan to issue a poll voting according BSIP59 for that.
2. reviving of bitUSD
if MCR of bitCNY change to 1.6, we can expect that the bitCNY supply will increase at least 10% in short term without other factors, and this will also bring an apparent rise up of BTS price.
current BTS price in USD is 0.0497, close to 0.0511, the global settlement price, we can expect that the MCR change of bitCNY will help the BTS price to go above 0.0511 USD, which will make the reviving of bitUSD much easier then current status.
3.to build a more competitive DEX
To make Bitshares DEX more competitive, we need to provide advanced permission feature to institutional users, in a typical scenario, institution A need institution B to provide some trading service, they need such an account: A fully control this account however B is only authorized to trade in some specified trading pairs within this account. now GDEX is cooperate with some market maker, we have a strong feel that we need this kind of account structure.
Fortunately I found BSIP40 can provide such feature and is already approved several months ago and in development, unfortunately as I know BSIP40 can go live at earliest as after the hard fork in Oct, anyway, I hope the core team can give high priority to this feature in the task list, I believe not only GDEX, but also many other institutions in BTS ecosystem are in great demand on this feature.
One other big thing is the market fee of bitCNY and bitUSD, now the market fee of all the smartcoins are 0.1%, this is not friendly enough to many big users.
Taking GDEX as example, we now invite maker makers to trade in DEX, when they make market in pairs like GDEX.EOS/GDEX.BTC, we will return the market fee back to them to save the market making cost, however, if we request them to make market in pairs like GDEX.BTC/bitCNY, we cannot return the bitCNY market fee as it is charged by committee-account, so we need to make the market fee of bitCNY low enough to make market making feasible, comparing to the fee level in CEX, I'd like to propose to reduce the market fee of bitCNY and bitUSD to 0.04% or lower.