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Topics - bitcrab

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General Discussion / BTSDAO, A Liquidity Mining Project
« on: July 07, 2021, 04:21:32 am »
BTSDAO is a liquidity mining project which is started up by China community.

btsdao is the main management account, DEFI is the token for governance and is airdropped to liquidity providers everyday.

DEFI has a totally supply of 900M, all have been issued and put into a vesting balance, everyday 0.8M  DEFI are released from the vesting balance, up to 0.76M will be airdropped to liquidity providers, the rest will be send back to btsdao.reserve for later use or burn.

Currently there are 10 pools


Each pool will get 40K DEFI airdrop everyday, except that for BTS-DEFI pool this number is 80K.

A TVL threshold is defined for each pool, for pools within DEFI the threshold is 200K BTS, for other pools the threshold is 1M BTS, everyday a snapshot is done at random time to check whether the TVL of each pool listed above is higher than the defined threshold, if Yes then the DEFI airdrop quantity for each liquidity provider will be calculated out depended on the LP share, and finally be transferred from btsdao.escrow to the liquidity provider.







中文(Chinese) / 关于BTSDAO流动性挖矿新规则的投票
« on: June 07, 2021, 03:51:45 pm »

每日空投,每日晚9点发放空投, 快照时间全天随机。 defi总量9亿,无预挖无预留,3年内线性释放,每日自动解锁80万,每日空投不高于76万defi,其余defi用于各种激励活动,剩余部分退回开发资金储备账户。

二类池:BTS池,稳定币池,其它DEFI池及网关池:bts /cny  bts/usd  bts/eur cny/cnc cny/usd cny/eur  usd/eur bts/cnc gdex.usdt/bts gdex.eos/bts gdex.usdt/defi  gdex.eos/defi  cny/defi   usd/defi (DEFI池TVL满10万BTS开始空投,其他池TVL满100万BTS开始空投)。

回购规则:btsdao稳定币收入CNY满1000、USD EUR GUSDT满200即触发回购,回购结果向社区公布。


中文(Chinese) / 关于GDEX.EOS加入冲浪计划的投票
« on: May 29, 2021, 03:13:19 pm »







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。


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