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Topics - bitcrab

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Stakeholder Proposals / [POLL]BAIP10 : Set Margin Call Fee Ratio
« on: September 02, 2020, 09:12:30 am »
Below polls are created to set margin call parameters for bitCNY, bitUSD and bitEUR:

For bitCNY:

1.14.282 Poll-BAIP10-Set bitCNY MCFR to 1% and MSSR 1.02
1.14.285 Poll-BAIP10-Keep bitCNY MCFR and MSSR unchanged

For bitUSD:

1.14.283 Poll-BAIP10-Set bitUSD MCFR to 1% and MSSR 1.02
1.14.286 Poll-BAIP10-Keep bitUSD MCFR and MSSR unchanged

For bitEUR:

1.14.288 Poll-BAIP10-Set bitEUR MCFR to 1%
1.14.287 Poll-BAIP10-Keep bitEUR MCFR and MSSR unchanged

According to the BAIP rules, for each bitAsset, the FOR proposal will be considered approved while meeting below 3 criterias:

FOR worker get more voting power than AGAINST worker.
FOR worker get more voting power than BAIP-Threshold Worker.
Both No.1 & 2 above last for three consecutive days.

Here the "Keep parameters unchanged" proposals are the AGAINST proposal, the proposal to set the parameters are FOR proposal, for bitCNY there are 2 FOR proposals and if both are approved the one that get higher voting power will be executed.

please check to get the detail of BAIP10 and check if you need a deep understanding on that.

Please vote according to your opinion.

中文(Chinese) / 强清开始收费
« on: August 29, 2020, 04:04:19 am »

3 proposals are there waiting for approval, if it will be approved, CNY,USD and EUR force settlement will all charge 1% fee after 26th, Aug.

relevant poll details please check here:

I believe fork is not the best solution for the current opinion conflict, although the expectation to fork lead BTS price to go up in short period, in long term view the fork will make the community break up and hurt the BTS brand. so I created below poll worker proposals to collect opinions from the community. I hope it can be the new start point for the community to look for consensus. please vote for each of the 4 unplanned changes to the voting system according to your opinion. I do not defined any subsequent actions that follow the poll result, however I believe the result will be important reference for any players in this game.

please check for detail of the 4 unplanned changed features:

1.14.274   Poll-Unplanned Change-Support Vote Decay
1.14.275   Poll-Unplanned Change-Do Not Support Vote Decay

1.14.276   Poll-Unplanned Change-Support DPoS1
1.14.277   Poll-Unplanned Change-Do Not Support DPoS1

1.14.278   Poll-Unplanned Change-Support Staking Voting Power
1.14.279   Poll-Unplanned Change-Do Not Support Staking Voting Power

1.14.280   Poll-Unplanned Change-Support the Additional Voting Rules
1.14.281   Poll-Unplanned Change-No Support the Additional Voting Rules

Here the "Additional Voting Rules" stand for this: rules after the permanent locked up appears
when the first "permanent locked up" position appear on the chain, below rules will be alive:
4.1 the voting power of the account with no "permanent locked up" position will be 0
4.2 BTS in collateral or ordering status will have no voting power

Now we have Plan A and Plan B:
Plan A: fork smoothly.
Plan B: fork with exception handling, which is discussed here:

I'd like to suggest a Plan C: release a 4.* version with removed/kept/updated the features which abit had added, based on the voting result and additional discussion and voting.   and surely follow the BSIP approval->development and release->code audit and test->protocol improvement process.

In my view, either the fork happen or not, the current chain always need such a Plan C.

I hope all stake holders can positively vote to tell your opinion.

Stakeholder Proposals / [POLL]BAIP9 : Set Force Settlement Fee Percent
« on: August 14, 2020, 09:30:09 am »
Below polls are created to set force settlement parameters for bitCNY, bitUSD and bitEUR:

For bitCNY:

1.14.267   Poll-BAIP9-Set bitCNY FSFP to 1% and FSO to 1%

1.14.268   Poll-BAIP9-Set bitCNY FSFP to 1% with FSO unchanged

1.14.269   Poll-BAIP9-Keep bitCNY FSFP and FSO unchanged

For bitUSD:

1.14.270   Poll-BAIP9-Set bitUSD FSFP to 1%

1.14.271   Poll-BAIP9-Keep bitUSD FSFP unchanged

For bitEUR:

1.14.272   Poll-BAIP9-Set bitEUR FSFP to 1%

1.14.273   Poll-BAIP9-Keep bitEUR FSFP unchanged

Here FSFP stand for Force Settlement Fee Percentage which is defined in BSIP87 and FSO stand for Force Settlement Offset.

According to the BAIP rules, for each bitAsset, the FOR proposal will be considered approved while meeting below 3 criterias:

FOR worker get more voting power than AGAINST worker.
FOR worker get more voting power than BAIP-Threshold Worker.
Both No.1 & 2 above last for three consecutive days.

Here the "Keep parameters unchanged" proposals are the AGAINST proposal, the proposal to set the parameters are FOR proposal, for bitCNY there are 2 FOR proposals and if both are approved the one that get higher voting power will be executed.

Please vote according to your opinion.

General Discussion / margin call fee and force settlement fee setting
« on: July 25, 2020, 03:15:22 am »
30th July will come and BTS 4.0 will be on chain, community and committee need to consider the setting of the 2 new features - margin call fee and force settlement fee.

suppose let the fee rate be 1% and let the setting give minimum influence to other features, we can have an easy idea as below:

for margin call fee:
bitCNY: set MCFR = 1%, MSSR = 1.02
bitUSD: set MCFR = 1%, MSSR = 1.02
bitEUR: set MCFR = 1%, MSSR = 1.02
bitRUBLE: set MCFR = 1%, MSSR = 1.02, MCR = 1.6 or MCFR=1%, MSSR=1.09

comments: after implementation of BSIP74, margin_call_order_price = median_feed_price / (MSSR - MCFR), so set MCFR = 1%, MSSR = 1 will make the margin call order price = feed price/1.01 for bitCNY,USD and EUR, as before.

for force settlement fee:
bitCNY: set FSFP=1%, FSO = 1%
bitUSD: set FSFP=1%
bitEUR: set FSFP=1%
bitRUBLE: set FSFP=1%

comments: currently FSO(force settlement offset) of the 4 main bitAssets are all 1% except that bitCNY has a FSO of 2%, reduce FSO as 1% and at the same time set a 1% FSFP will make force settlement price almost unchanged.


中文(Chinese) / 流动性挖矿
« on: July 11, 2020, 03:39:53 pm »


活动的设计文档见这里,中文版本见这里: 下面做一个简单的介绍:



BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS


[gateways].BTC / bitAssets
[gateways].ETH / bitAssets
[gateways].EOS / bitAssets
[gateways].USDT / bitAssets

这里bitAssets包括 bitCNY, bitUSD, bitEUR 和 bitRUBLE.



## 审核过的网关资产和相应资产证明页面:##

另外,3 个交易对组买卖单奖励比不同,A组为7:3,B组为10:0,C组为5:5.

## 开始时间##
2020-07-12 00:00:00 UTC


General Discussion / Liquidity Mining(main thread)
« on: July 09, 2020, 08:55:23 am »
The Liquidity Mining is the updated version of the previous Market Making Contest(, the contest is not for traders to compete who can get the most profit by trading, but to compete who provide the most liquidity/market depth for the markets. The contest is to incentivize market makers, and consequently encourage the liquidity and trading volume of the DEX, in some previous discussion and documents it has been called "Ordering Mining", "Ordering Mining" and "Liquidity Mining" refer to the same thing here, finally "Liquidity Mining" is adopted as it has been widely used and accepted in this industry.

Details of the poll voting on this activity can be found here:

The detailed design of the activity can be found here:,  here is a simple introduction:

##Markets and Gateways##
The Liquidity Mining relevant Markets are divided into 3 pair groups:

Pair GroupA:
BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS

Pair GroupB:

Pair GroupC:
[gateways].BTC / bitAssets
[gateways].ETH / bitAssets
[gateways].EOS / bitAssets
[gateways].USDT / bitAssets

Here the bitAssets include bitCNY, bitUSD, bitEUR and bitRUBLE.

Gateways who have interests in participating in the contest please reply to this thread.
Every gateway needs to prove that its gateway assets are fully backed by real assets.

As RuDEX and XBTSX announced that they will not participate the Liquidity Mining at beginning, at this moment the qualified Gateways include only GDEX.

## qualified gateway asset(s) and corresponding audit page(s):##

##Rewards and Rules##
Each pair will get reward based on the contributed market fees to system.
Pairs in the same group will compete each other to share up to 20K BTS every day.
Market makers place orders onto the order book.
The bigger the orders and
the closer the orders to the opposite side of the order book and
the longer the orders lasting on the order book,
the more rewards the owner of the orders will earn.
detailed rules please check here:

## Start Date
2020-07-12 00:00:00 UTC
End date not yet decided.

The Committee will manage the operation of this activity.

According to the voting rule, BAIP6 is now approved.;topicseen#msg342564

BAIP6 will be implemented based on what is described in the document:

As the first step, the four BitAssets bitCNY, bitUSD, bitEUR, and bitRUBLE will be set unified market parameters as market fee = 0.1% and reward percent = 20%.

Subsequently, Committee will find developers to develop the necessary scripts used in BAIP6. when the scripts is finished and tested well, the Ordering Mining will begin.

Stakeholder Proposals / [Poll] BAIP6: BTS-DEX economic model
« on: May 25, 2020, 01:59:06 pm »
BAIP6( is a new drafted proposal that consist of the updated Market Making contest(Ordering Mining) rule and some other parts, the purpose is to cultivate the market depth and the trading activeness in BTS-DEX through a task distribution mechanism, and to increase the system income to buy back BTS to create value for BTS stake holders.

Now 2 poll workers have been created:

1.14.260 Poll-BAIP6-Implement BTS-DEX economic model
1.14.261 Poll-BAIP6-Do Not Implement BTS-DEX economic model

According to BAIP procedure definition, the BAIP6 will be considered approved while below 3 criteria are met:

1.worker 1.14.260 get more voting power than 1.14.261 worker.
2.worker 1.14.260 get more voting power than BAIP-Threshold Worker 1.14.236.
3.Both No.1 & 2 above last for three consecutive days.

Kindly Reminder:

BTS-DEX try to make sure,but do not guarantee that the listed gateways always provide liable service and is not legally responsible for that, users need to judge the service liability of the gateways by him/herself.

As RuDEX and XBTSX claimed not to participate the subsequent Ordering Mining, at the beginning only GDEX is included in the gateway list,  however any qualified gateway is welcomed to join after the Ordering Mining begin if the gateway accept the mentioned conditions in the BAIP.

Please vote according to your opinion.


1.14.260 Poll-BAIP6-Implement BTS-DEX economic model   ##赞同实施BAIP6
1.14.261 Poll-BAIP6-Do Not Implement BTS-DEX economic model  ## 反对实施BAIP6

1.提案 1.14.260 获得投票高于提案 1.14.261.
2.提案 1.14.260 获得投票高于提案 BAIP门槛提案 1.14.236.



因为RuDEX and XBTSX宣布不参加接下来的挂单挖矿,开始的时候挂单挖矿将只包括GDEX一家网关,但欢迎任何服务达标且接受BAIP6中描述的参加条件的网关在后续时间选择加入。


This is a proposal which mainly focus on the update of the MM contest rules, however it is not only relevant to this, it try to build an economic model for BTS-DEX, to encourage users to contribute valuable transactions to the ecosystem, activate trading and promote the ecosystem value.

At the time that the MM contest paused, we observed that the BTS-DEX become more cold/desolate than the contest is active, it easy to understand, in any exchange in the world Market Making is a service that cannot be ignored, That’s why we try to optimize the MM contest rules and hope it can get enough support from the community.

The proposal will be discussed sufficiently and then be put into BSIP/BAIP poll voting, it will be executed if it is authorized by the voting.

On one hand, this proposal continuously enhance the platform token feature of BTS, enhance the contribution to system income from various assets, and the subsequent BTS buyback and burning.  On the other hand, this proposal will update the MM contest rules and rename it as “ordering mining” as one important part of the BTS-DEX economic model, BTS/bitAssets pairs group will be added in, reward on one pair will depend on the market fee income that was contributed from this pair to the system, the infrastructure will include several parameters which can be adjusted  to fit the business status, the gateway assets which are included in the ordering mining will be forced to pay part of the market fee to system before BTS 4.0 launching as a must for being listed in. All these update is to build a market-oriented selection and cultivation  mechanism, to make the competent pairs to stand out in a fair environment, and feed back to the system after growing up. The 3 trading pair groups just form a trading triangle, much trading chance will come out there if the market making really help.

Daily system income include all the BTS fees and the market fee share of the ordering mining listed gateway assets that were collected to committee-account, counted in BTS. All the funds that were used as rewards of for burning comes from committee-account, as current balance or future income.

#Ordering Mining
Ordering Mining involve 3 categories of assets which are BTS, bitAssets and Gateway assets.
bitAssets include bitCNY, bitUSD,bitEUR,bitRUBLE.
Gateway assets involve the according gateway assets of main crypto currencies include BTC, USDT, ETH and EOS, the organizer demand the gateway to guarantee the in time deposit and withdraw service with quick support while necessary, and provide the proof of real asset. Now the listed gateway asset include:





Ordering Mining is to encourage market making via reasonable reward, to form sufficient market depth to attract traders, so the principles for the rules are:
1.give incentive to ordering, to narrowing the gap between top buy/sell orders, to big fund participation, and try to form a long-term mechanism.
2.attendees need to operate with self owned funds and bear profits or loss,no matter how much funds are included.
2.1 the bigger the order volume, the higher the reward.
2.2the closer the order price to the top counter party order price, the higher the reward.
2.3 the longer the order stay there, the higher the reward.
3.each day the reward to each pair depend on the fees that were paid to committee-account from this pair, the fee include the marginal fee and force settlement fee of bitAssets.

*Each pair group have 3 parameters include Base Reward, Top Reward, and Buy-Sell Reward Ratio, each pair have parameters include Pair Top Reward, Fee Return Ratio, Gear Goal Depth, Minimum Effective Order Volume.

*Calculation of pair reward and adjustment
First, calculate out the reward for each pair based on the contributed fee and the Fee Return Ratio of that pair, compare it with Pair Top Reward and select the lower one as the reward of that day for that pair. in formula Reward to one pair in one day = min(Fee paid from this pair to committee-account*Pair Fee Return Ratio, Pair Top Reward)

*Calculation of pair group reward and adjustment
Sum up the pair reward in the pair group to get the pair group reward, if Top Reward>pair group reward>Base Reward, adopt the pair group reward directly, if pair group reward<Base Reward, adopt Base Reward as pair group reward, if pair group reward>Top Reward, adopt Top Reward as pair group reward.

*Distribution of pair reward
*only the order with volume >  Minimum Effective Order Volume will be put into the market depth and reward calculation

*calculate the depth based on the distance from current order to the closer effective order in counter order listing.
Distance = ABS(this order price-closer counter order price)/MAX(this order price, closer counter order price)
Ordering Gears and according Reward Ratio
*orders inside 1% distance will share maximum 53% reward
*orders inside 2% distance will share maximum 25% reward
*orders inside 3% distance will share maximum 12% reward
*orders inside 5% distance will share maximum 6% reward
*orders inside 7% distance will share maximum 3% reward
*orders inside 10% distance will share maximum 1% reward
*In each gear:
If the summed up depth does not reach the goal depth, reward = maximum reward share* real depth/goal depth.
If the summed up depth overcome the goal depth, reward =  maximum reward share

*Distribution inside gears:
calculate the weight based on the distance of the order price to the gear border price:
Weight Coefficient = 1 + (gear top border price -  order price)/(gear top border price - gear bottom border price)
The pair reward share to each gear will be distributed to orders based on Order Volume*Weight Coefficient inside each gear.

*Calculation and rewarding will be done each day with period from UTC0:00 to 24:00, proposals will be created to distribute the rewards.
*If BTS 4.0 is not launched yet when this Ordering Mining begin, gateway need to pay 20% of the market fee of the listed gateway assets to committee assigned account, the reward to pairs with the gateway asset will stop if more than 1K BTS fee are not paid.

Parameters and Initial Values

Minimum Pair Daily Volume: 5KBTS, pairs with volumes less than this value at the day will not be included in reward distribution.

1.BTS/gateway assets group, Base Reward 3KBTS, Top Reward 20KBTS, and Buy-Sell Reward Ratio 7:3, each pair inside have Pair Top Reward 2K BTS, Fee Return Ratio 40, Gear Goal Depth 200K BTS, Minimum Effective Order Volume 100BTS.

2.BTS/bitAssets group, Base Reward 3KBTS, Top Reward 20KBTS, and Buy-Sell Reward Ratio 10:0, each pair inside have Pair Top Reward 10K BTS, Fee Return Ratio 20, Gear Goal Depth 1M BTS, Minimum Effective Order Volume 100BTS.

Suggest committee to set market fee to 0.1%, market fee sharing ratio to 20% for bitCNY, bitUSD, bitEUR and bitRUBLE.

3.  Gateway assets/bitAssets group, Base Reward 3KBTS, Top Reward 20KBTS, and Buy-Sell Reward Ratio 5:5, each pair inside have Pair Top Reward 2K BTS, Fee Return Ratio 20, Gear Goal Depth 200K BTS, at calculation the depth will be converted to according gateway asset depth based on the MA24 price, and
bitAssets/BTC: Minimum Effective Order Volume 0.0002 BTC
bitAssets/USDT: Minimum Effective Order Volume 2 USDT
bitAssets/ETH: Minimum Effective Order Volume 0.01 ETH
bitAssets/EOS: Minimum Effective Order Volume 1 EOS

#BTS Buy back and Burning
Committee will be responsible for the BTS buy back with the non-BTS assets in system income.
A parameter Burn-Income Ratio is set, each day BTS with amount=(system income*Burn-Income Ratio)will be transferred to the specific burning account, and will be burned when the accumulated amount reach a certain value.

#Payment for Development and Daily Operation
Generally BTS with amount = reward*1% will be paid to daily operators, each day proposal will be created to transfer such amount of BTS to operator account. On the other hand, as the update need development, salary will be paid to the developers if the proposal be approved by voting, currently the estimated salary is about 150K BTS.

Chinese version can be found here:;topicseen#msg342265

BTS community had suffered the dead spiral for long time, BSIP76 is created to fight against this, I believe everyone have seen that BSIP76 made sense in resisting shorting attack. however it now brought another big question: bitCNY and bitUSD peg off for long time, this bring great trouble in the ecosystem.

I would like to ask such a question -  now is it possible for us to slowly lower the bitUSD and bitCNY feed price threshold to solve this question?

A simple idea is that, firstly lower the bitUSD threshold to close to bitCNY threshold, in other words, lower from 0.0345USD to about 0.0311USD, in 1 or 2 steps.

and then lower  bitUSD and bitCNY feed price threshold synchronously with care and slowly, if the community can reach great consensus on each step.


中文(Chinese) / 交易员日记
« on: May 06, 2020, 09:19:24 am »

如果一个用户目的只是买卖BTC/ETH/EOS等主流币,那么确实没多少理由选择BTS-DEX,因为无论从市场深度还是平台用户体验,这里比起top CEX都差很多,杠杠交易,OTC交易就差更多了。





General Discussion / Info about scamcoins?
« on: April 29, 2020, 02:35:24 am »
recently it is frequently reported that some cheaters ask the fooled to deposit BTC in GDEX and then buy the scam token with GDEX.BTC.

seems mainly happened in Russia?

GDEX are considering to take measures like whitelist for this to protect the interest of BTS users.

however we have little info about the scamcoins, hope the community can provide relevant info.

bitEUR now suffer great suppression in supply and liquidity by force settlement.

To apply BAIP2( on bitEUR will lessen the suppression in supply and liquidity and will activate the ecology of bitEUR.

Two poll workers have been created:

1.14.257   Poll-BAIP2-Reform on bitEUR feed price mechanism

1.14.258   Poll-BAIP2-Do Not Reform on bitEUR feed price mechanism

BAIP2 is approved to apply on bitEUR if worker 1.14.257 get higher voting power than 1.14.258 and also 1.14.236 BAIP-Threshold.

Please vote according to your opinion.

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