Quote from: bitcrab on March 29, 2020, 03:46:23 am

In August 1971, U.S. President Richard Nixon announced to remove the dollar peg to gold, the Bretton Woods System collapsed.

You surely can say that US cheated the whole world, but the point is, at that moment US has no other choice.

BTS also face similar problem, BTS need first to survive, and then can seek more.

BitAssets are not created as a killer to BTS.

You give an example that you didn't understand until now，that is such an irrelevant example.

If other stablecoin use BTS as collateral, then you will get a very good pretext to blame which is the culprit can‘t make BTS survive！

How pathetic and preposterous！

Then who is the killer to BTS？

I do not want to explain more to the guys who just say others do not understand this and that, it's wasting time.

BSIP76 is a scam. Even to this day the bitshares.org website misleads investors: https://bitshares.org/technology/price-stable-cryptocurrencies/

BSIP76 has HUMILIATED CNY on an international stage & destroyed the credibility of bitassets as a store of value permanently.

Shame on all BSIP76 proponents.

If you do not understand what sense does BSIP76 make, update yourself.

bitshares.org need update.

we understand BSIP76 make bitCNY&bitUSD peg off, but there is no better choice.

to stop the death spiral from destroying BTS, we have to do so.

what we need to do is make BTS price above the threshold stably, the way is to make the system income support BTS price, and that is what the core prelude worker focus on.

Quote from: binggo on March 09, 2020, 12:08:26 am

Now i must question the Market making contest：

1. Did the MM have checked the trade volume for so long time？or considered it as a measure of the "liquidity"?

2. Did the MM have checked the growth rate of new effective users for so long time？or considered it as a measure of the "result"？

3. Did the MM have a BSIP for the community to vote？or the fund can be used easily by Committee without the vote of the community？

In a way, the MM became a joke slowly, only have expenditure，nothing gained.

These are fair questions to consider and get answers too.

I am finding it increasingly difficult to see why this is still running without seeing any visible benefit except to the few anonymous bots optimized to eat this up.

here are some pics to show how the trading volume of some relevant pairs changed after the contest began at the end of Oct 2019:









Definitely the contest make big sense for a DEX and should continue.

Yes it's coming. Sincere apologies that I was completely unable to communicate or dedicate myself to work lately, I've had some private/family issues to take care of.
 
Before actual new draft, in simple terms:

Mainnet 4.0 will be rescheduled
Mainnet 4.0 will have few additional BSIP's added
Mainnet 4.0 will execute "reserve pool negative balances" fix
Mainnet 5.0 will not be included in 2020 core part 1 worker
Testnet 5.0 will be final point of the new worker draft

Chee®s

I believe release 4.0 will be a milestone in BTS evolution.
hope the reorganized core team can start to work on this ASAP. Time does not wait for people.

The painful history of BTS has taught us a lot, we realized that it is impossible to make smart coin peg exactly at any time,  and we need to change to stop the way of pegging from hurting the whole ecosystem, measures are taken accordingly.

After the implementation of BSIP58, BSIP76, BAIP2, bitCNY and bitUSD are no longer expected as exactly pegged asset at any time. they are derivatives of BTS that can peg under some conditions, and peg off under some other conditions, they can still be used as tools of leveraging, risk controlling, arbitraging and so on. the great benefits is, the death spiral disappeared. BTS holders need not to worry that market crash will lead BTS price to 0.

I observed Maker’s behavior in the recent market crash, it behaved like BTS in old times, and due to the booming gas fee and the settlement rule of DAI, many margin called CDPs are settled in very low price, some bidders get the collaterals in very cheap price and what they paid cannot cover the debt, Maker team has to pay the gap by selling MKR. Maker team and debt position owners are both losers in this market crash.

I am glad that BTS has left this page behind, although bitCNY and bitUSD are now in big devaluation due to BSIP76, we successfully avoid the crash of BTS price, I believe not only debt position owners, but also all BTS holders would like to see this.

We expect to restore the peg of the smart coin by making BTS price be stably above the threshold, the way to get this is to increase the system income by charging from margin call, force settlement and UIA market fee, and pay public expenditures and buy back BTS using the accumulated fees,  if all the things going well, we can get features for this in release 4.0.

I hope the ones who always call BSIP58, BSIP76 and BAIP2 “market manipulation” can update their idea, we are just utilizing creative solution.

voted.

爆仓+强清+锁喂价+喂价改形成了一个规则体系，要达到的目的是：

为内盘提供类似bitCNY这样的衍生品，这个衍生品在一定条件下是可以锚定法币的，可以成为加杠杆和调节流动性的手段，但同时，当市场走弱时，不能因为要保证bitCNY的价格而连累BTS价格。

bitCNY从设计之初就不同于传统意义上的抵押借贷，强清规则在设计之初就存在。就是契约的一部分，理解并接受就来玩，不接受就别玩。说取消强清才是基本的社会契约完全是强词夺理。

当前具体的BTS内盘条件下，强清对达成锚定来说不可缺少，这点是有广泛共识的。别的产品如何选择是他们的事，他们没有强清说明不了BTS的强清不合理。

这一套规则加起来，恰恰是在进行衍生品供应和风控的市场化，前一段时间密集强清，把“安全抵押率”推到3以上，那是市场看好BTS价格，推高了bitCNY的生产成本。然而这几天的行情，恰恰说明推高“安全抵押率”未必是坏事，因为提前释放了之后大跌带来的风险，也说明被强清未必是一件坏事，尤其在BTS价格在锁定喂价之下被强清，其实是在帮抵押者打折还债。被强清者有各种各样的手段去化解风险和套利。

在这套契约下，抵押者有按喂价+补偿的价格向市场提供流动性的义务，按抵押率排序提供也没什么问题。要求什么每个抵押者都要清就是没事找事。

bitCNY可以强清，而不存在所谓BTS强清bitCNY的“反向强清”，很难理解吗？因为bitCNY本身就是一张借条，一张“抵押资产索取权凭证”。而BTS并无这种属性，想还债卖掉BTS还就是了，想更方便就等BSIP62上线吧。

bitCNY稳定需要BTS价格的坚挺，而BTS价格走向坚挺，需要走平台币的路子，通过大幅增加系统收入来回购BTS来达到，BSIP74，86，87，都是在向这个目标努力。

A worker proposal is created as the poll of BSIP87.

1.14.254   Poll - BSIP87 - Force Settlement Fee

The detail of BSIP87 can be found here: https://github.com/bitshares/bsips/blob/master/bsip-0087.md

More discussion can be found here: https://github.com/bitshares/bsips/issues/260

This BSIP will be seen as approved if worker proposal 1.14.254 gets more votes than below worker proposal:

1.14.158   threshold-bsip

Actually a new BSIP is being prepared for introducing the BSIP threshold:https://github.com/bitshares/bsips/issues/267, it will be put into voting to update the rule of BSIP approval.

please check and vote according to your opinion.