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Topics - matle85

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General Discussion / Request Committee to correct margin sell price
« on: November 25, 2018, 01:41:34 pm »
Margin calls are sold at a lower price to clear margins and protect from global settlement (GS).

BitUSD has just suffered GS and I believe a significant cause of this was the fact margin calls were not clearing. This is because the current formula for calculating the margin sell price considers only the feed price.

During the current downtrend feed price has been 10% above Dex price meaning the margins are being sold effectively at the Dex price.

Margin calls should be sold at "10% lower than the lesser of the feed price and Dex price."

I request the committee to immediately correct this on bitCNY to avoid another GS there.

As highlighted in some recent discussions there is an oddity on bitUSD, bitCNY and similar that the "asset owner can transfer asset back to himself" and override transfers option is active.

Bitshares is decentralised and we are pushing these coins forward as trustless so I propose these permissions are turned off.

I wanted to raise it here so we can discuss:
  • What are the benefits of the permissions remaining on?
  • Do these outweigh the negatives of it remaining on?
  • If we turn it off how is that decided and done? 

In my view the function would (/should) never be used and leaving it on significantly undermines the fundamental premise of them as decentralised / trustless stable coins.

I think the only reason to leave them on would be if there was a significant and clearly defined regulatory or legal advantage...and even then I think I would take some convincing but I welcome views from others :)


I have submitted my first worker proposal - please see link below.

I believe that by creating a reward pool with 'prizes' for achieving pre-determined milestones we can bring about a step change in the adoption of BTS.

I would like to discuss with the major delegates how we might put together a Committee for managing the reward fund which they would support:

Thoughts welcomed  :)


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