0 Members and 1 Guest are viewing this topic.
so... any news on bitxcd?
why do you need a MPA then? if the price is fixed, just make a UIA and add a sell order at this price
Quote from: bitcrab on December 18, 2017, 04:05:57 pmFeed lifetime 525600 min(1 year) #to make a 'static' priceQuote from: bitcrab on December 19, 2017, 02:42:44 am3.a if in future XCD relax peg to bitUSD, one choice for us is to create another smartcoin which peg to XCD but backed by BTS to replace bitXCDIf the peg changed in the future, wouldn't it be enough to start feeding new price? I understand that in such a case feed lifetime set to 1 year could be problematic. Could we change it to something more reasonable, e.g. 1 month? I guess that this kind of stuff doesn't change overnight.
Feed lifetime 525600 min(1 year) #to make a 'static' price
3.a if in future XCD relax peg to bitUSD, one choice for us is to create another smartcoin which peg to XCD but backed by BTS to replace bitXCD
I'm sure the info is available somewhere, but I'm too lazy to go searching... :-/ Nevertheless, I'm seriously interested in answers to the following questions:1. What is the economic sense in an asset that has a fixed exchange rate to USD? Why should anyone not simply use USD instead?2. Where does the "magic" value 2.7 stem from? Is there an economic reason for that value?3. Can we be extremely sure that this value is not going to be redefined in the future?3.a If we can't, we should have a plan how to handle such changes. Preferrably come up with a plan before creating the asset.3.b If we can be sure, see question 1.
QuoteMAXIMUM SUPPLY 100,000,000,000I know that it's set to the same value for other smartcoins but is there any technical or practical reason to limit it to 100 billion? Can it be changed later?
MAXIMUM SUPPLY 100,000,000,000
MSSR:100.5% #even when margin call happen, shorters will lose little.
due to the too short time setting the last proposal is not approved, in this period some suggestive ideas emerged and it seems we need to consider more on the back asset selection.below is the XCD/USD rate chart in last ten years, we can see that from 2011 the rate is fixed to 0.37037 USD/XCD with some minor fluctuation.the design logic/purpose of XCD(not bitXCD) is to peg USD, if we create bitXCD which has a fixed rate to bitUSD, it would be great, right?I tried to set a newly parameter as below after went through all the ideas about it.MAXIMUM SUPPLY 100,000,000,000Precision 4Feed lifetime 1year #to make a 'static' priceMinimum feeds 7Force settlement delay 10 min #to enable instantly USD/XCD conversion, should be as short as possibleForce settlement offset 0.3% #with the fixed rate shorters have little risk, so the 'service fee' should be low.Max force settle vol 5% # need to be larger than other BTS backed smartcoinsShort backing asset USDand, witnesses need to feed as below:1XCD = 0.37037 USDMCR:100.1% #should be higher than but close to 100%MSSR:100.5% #even when margin call happen, shorters will lose little.any ideas on this?and, this solution is not tested yet, is it possible to do the test in several days to ensure it is bug free?
proposal created and is waiting for approval:https://cryptofresh.com/p/1.10.6006witnesses please prepare the price feeding for bitXCD, with the assumption that 1USD=2.7XCD.
This is just awesome! Real world use - finally we are breaking through!I'm just curious how in the world do you meet such people so casually?
plan to create bitXCD with below setting, as same as bitUSD:MAXIMUM SUPPLY 100,000,000,000Precision 4Feed lifetime 24hMinimum feeds 7Force settlement delay 24hForce settlement offset 1%Max force settle vol 0.5%Short backing asset BTS
1) BTS as short back assetin this way bitXCD and bitUSD are separated, the peg rely on the price feeding, witnesses need to get BTS price in USD and then divide it by 2.7 and feed to the system, for convenient bitUSD/bitXCD exchanging, we need some big traders to provide the liquidity from both sides.2)bitUSD as short back assetthis way bring more complex, when one need borrow bitXCD, he need to hold bitUSD first, and while borrowing bitXCD by putting bitUSD into collateral, if set collateral ratio >100%, then actually the cost for borrowing bitXCD is higher then normal smartcoin borrowing, if set collateral ratio =100%, then margin calling may easily happen if some wrong price feeding happen. some risks hide there.
how about you fix bitCNY first?
if set collateral ratio =100%, then everybody can issue infinite amount of bitXCD
Quote from: bitcrab on December 12, 2017, 02:24:38 pmQuote from: abit on December 12, 2017, 01:57:03 pmSince XCD is pegged to USD, is it good to create bitXCD and back it with bitUSD?then how to set the smartcoin parameters?Witnesses can feed a static price against base(USD). May still need to feed dynamic CER.By the way, perhaps there are bugs about non-BTS backed assets, last year I've been playing with KITTY.CNY and remember there are some issues. Best make some tests on testnet first.
Quote from: abit on December 12, 2017, 01:57:03 pmSince XCD is pegged to USD, is it good to create bitXCD and back it with bitUSD?then how to set the smartcoin parameters?
Since XCD is pegged to USD, is it good to create bitXCD and back it with bitUSD?