We've had a lengthy discussion on the subject before, and back then we were arguing about 1%, not 5.
I think the settlement offset is a blatant violation of the settlement guarantee. Raising the offset means ripping off the holders of bitCNY, which will further serve to destroy the credibility of bitAssets as a concept.
It is especially unfair to those who have already requested forced settlement, because they cannot undo their settlement requests. They will simply receive another 4% less than what they were supposed to receive.
Once again the largest shorters of bitCNY are abusing their power to scam the users of our DEX.
surely the apply of this plan need some time, and before that we'll announce this change to public, it has no effect on the already placed settle orders, and the potential settlers will be noticed about this.
for the smartcoin like bitRUBLE, its ecosystem is undeveloped yet, settlement may play an important role for claiming values of smartcoins, but for bitCNY which has a mature ecosystem, settlement is not needed, and the key point is to increase supply.
I have discussed with aex and xbrick people, they do not worry the credibility of bitCNY, but they worry a lot on the supply of bitCNY, they doubt it cannot fulfill the market demand.
I am a big shorter, how can I scam the DEX users? please let me know. shorters are always under the risk of margin call, small shorters can easily increase the collateral ratio to avoid such risk, but it is always difficult for big shorters to do that, big shorters need to be more careful.