BTS ID: tradebts.gulu

TradeBTS (www.tradebts.com) is a platform that buys and sells BitAssets. Right now, we deal BitCNY at 1:1 ratio with CNY for a small fee.

1) Who we are?
We at TradeBTS are a team of four — 1 project manager (gulu), 1 tech, 1 accountant, and 1 customer service.

2) What has TradeBTS done?
A. Since its debut in Nov. 2014, tradebts.com has dealt 1.3 million BitCNY accumulatively.
B. TradeBTS established an agreement with BTC38 exchange (www.btc38.com). As a result, the latter now accepts BitCNY as a deposit method for CNY. To an average user, he can fund his BTC38 account just like CNY, with 1:1 ratio.

3) What’s next on our roadmap?
A. Persuade more exchanges to accept BitCNY as funding channel.
B. Seek fundraise to boost our BitCNY capacity. It’s not likely that big-boy merchants and institutions would accept BitCNY before any dealer reaches certain level of BitCNY capacity.

4) How can we do it better?
A. Limited by the capital size of TradeBTS, we have set a daily limit of 5000 BitCNY to each individual account. To grow our capital size and better serve the community, we plan to go for crowdfunding on dacx.com in 3 months.
B. We are at the very beginning of BitAssets’ adoption. Therefore the market is pretty small. One of our major missions at TradeBTS is to educate the market on BitAssets. Right now, we are doing so at a loss, as the revenue from dealing is far less from making even off operational cost. Additional cash flow from a fully-paid delegate could further help us educate the market.

5) What does the fully-paid delegate mean?
A. Grow the capital at TradeBTS for the purpose of BitCNY dealing.
B. Long-term market education on BitAssets.
C. More fundraising at crowdfunding. Larger capital capacity means better likelihood of getting in the big-boy merchants.

Our campaign slogan: BitAsset works; your vote counts.

Current problem:
BitUSD is undervalued compared to USD outside (~20% at the time of writing). Potential reason:
1) Not enough incentive to hold BitUSD. No interested received.
2) Not much demand for BitUSD for commercial usage, especially when little merchants accept BitUSD for payment.

Result to achieve:
1) BitUSD receives interest to add incentive for holding it.
2) The added incentive evens out the imbalanced force from one side of the market, which pushes the peg towards 1:1.

Goal/requirement:
1) Interest rate, R, needs to be market-driven.
2) BitUSDs are fungible, meaning they enjoy the same R. The previous proposal of BitUSDx (R = x%) would generate many kinds of BitUSDs, and inherently they are non-fungible, as they enjoy different interest rates. Here, the interest that BitUSD receives comes from the BTSX collateral, which is the loss of the BitUSD shorter.

Design principle:
More short of BitUSD pushes up R; more long of BitUSD drives down R.
(BitUSD priced in BTSX)

Range of R:
Rmin < R < Rmax, while Rmin can be negative if necessary.

Specific rules:
1) Orders can be sorted into three categories: sitting orders, driving orders, and neutral orders. When a buy order and a sell/short order are matched, usually they were initially placed in the different blocks. The one placed in the earlier block becomes the sitting order, and the other is the driving one. Sometimes, two matching orders are included in the same block, which makes both neutral.
2) Presumption: driving orders represent market direction/intention.
3) Only driving orders move R.
4) A long driving order drives R down; a short driving order pushes R up.
5) R moves 0.1% for every $x million BitUSDs in the driving order, proportionally. For instance, x can be 1, 10, or 100.

Expected end results:
1) R reaches equilibrium. This is the market-driven interest rate, which represents the wills of both sides of the market. If one side disagrees, it would move R by buying or selling BitUSDs to the direction that it prefers.

This proposal provides a general idea of how to set up a market-driven interest rate. Measures against various attacks are very likely to be in need. 

受Bitshares Trust（管理AGS捐赠资金的）委托，执行“比特股感谢计划”。

Bitshares在大家漫长的等待中，终于在7月19日发布。在这个过程中，许多对DAC充满着梦想和信心的朋友，始终为Bitshares的团队加油助威，并且不断向大家普及相关的知识，让更多的朋友有机会了解和参与bitshares以及其他DAC项目。所以3i为了感谢这些始终不计较个人得失和利益的朋友，会有一系列的奖励措施，这些奖励仅仅是代表我们团队对他们所作出努力进行微不足道的补偿，并且希望能够鼓舞更多的朋友一起参与包括Bitshares在内的各类后续DAC的项目。

奖励对象：
对于在社区，社交媒体（Facebook、twitter、weibo、wechat）上进行长期宣传的朋友。
对于曾经翻译和撰写过Bitshares、DAC等相关概念资料的，支付酬劳的除外。
对于曾经参加编写和测试bitshares相关项目的编外人员，支付酬劳的除外。

奖励内容：
每人最高赠送0.1个BTC，1个PTS，1000个BTSX。

请跟帖说明你为Bitshares做了什么，并留下受赠地址。我们会核实信息，每周选取贡献最大的10个人进行赠送。