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 100,000,000,000
Precision 4
Feed lifetime 1year #to make a 'static' price
Minimum feeds 7
Force settlement delay 10 min #to enable instantly USD/XCD conversion, should be as short as possible
Force 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 smartcoins
Short backing asset USD
and, witnesses need to feed as below:
1XCD = 0.37037 USD
MCR: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?