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Main => General Discussion => Topic started by: abit on October 01, 2020, 04:43:32 pm

Title: 2020-10-01 Old bitCNY parameters adjustment
Post by: abit on October 01, 2020, 04:43:32 pm
Purpose: to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral is too low.

The MCR parameter got updated the first time today, from 160% to 160.1% . Will update it again in the future, depending on market status.
Update: MCR has been increased to 160.8% .

Current parameters:

ICR 245%
MCR 160.8%
MSSR 150%
MCFR (Margin call fee rate) 5%
FSO (Force settlement price offset) 2%
FSFP (Force settlement fee percent) 1%

The median feed price is 0.22 CNY/BTS.
Note: the ICR value 245% for feed price 0.22 effectively means 167% if the market price is 0.15.

Borrowing has been enabled again. The maximum supply is limited to 35,000,000 bitCNY.