Quote from: dh on February 17, 2019, 07:18:03 pm

I have a better idea. Forget about OMO and turn off market fees on bitassets.

With the use of DEXBot staggered orders all market fees would be turned into liquidity providing orders which continually increase in size through the compounding of profits from the back and forth of price.

This is the simplest, safest, most efficient way forward for open market operations.

We cannot simply say that the purpose of OMO is market making.

take bitCNY as an example

buy BTS when bitCNY is in shortage and high premium.
sell BTS when bitCNY is in oversupply and obvious discount.

the rules do not lead to high trading volume.

bitCNY/BTS pair now has a fairly good depth, not in big demand on market making.

If we mainly concern market making, I prefer to turn off market fee of bitCNY, which can bring more incentive to trading.

In the past 10 months, open market operation fund lost much in the big bear market. A simple summary can be found here: https://bitsharestalk.org/index.php?topic=27790.0

However, I believe that the market fee income should be used in supporting the smartcoin ecosystem. What we learned in the past 10 months will help us to optimize the policy in the future.

So I now suggest to restart the Open Market Operation with updated rules:

1.Open Market Operation Fund will not get BTS through worker proposal, it will only get the market fee of smartcoins as fund source.
2.Smartcoin borrowing will not be allowed.
3.BTS buying orders can be placed only when there is margin called orders stayed.
4.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.

the operation will still cover bitCNY and bitUSD, as bitUSD is in global settlement status, operation on bitUSD will start after bitUSD revive.

bitCNY operation account: committee-cnytrader
bitUSD operation account: committee-usdoperator

As ebit and witness.still are voted out of committee, the active key of committee-cnytrader will be changed to a 2/3 multisig of bitcrab, jademont and abit.

2 poll worker proposals have been created for this plan:

1.14.166 Poll - Restart Open Market Operation
1.14.167 Poll - Do Not Restart Open Market Operation

please vote according to your opinion.

I am considering to restart the OMO fund operation.

I believe that the market fee income should be used in supporting the smartcoin ecosystem. we learned lessons in the past 10 months, so I think we need to update some essential setting of the fund.

first, it will not get BTS through worker proposal, it will only get the market fee of smartcoins for operation.

here are 2 policies for the operation of the updated OMO fund.

Plan A:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is not allowed.

Plan B:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is allowed, but the margin call price of the debt position should always be lower than the global settlement price, anytime the margin called price is above global settlement price, all the available liquidity should be used to reduce the margin called price.

Plan A is conservative, it just buy and sell BTS, do not borrow.
Plan B is a little audacious.

maybe we can begin with Plan A, Plan B is for subsequent discussion.

gdex-witness already implemented BSIP58 on bitCNY.

别再搞公市基金 之前的公市基金已经向市场释放了几千万的流通量了，结果是价格进一步下跌。
为什么不把手续费分给会员呢？分给会员后让很多人升级会员账号 ，吸引新人进来多好，

看清楚再说，这次不再用项目预算资金，只有手续费。
就算一年100万bitCNY手续费，分下去，也就相当于一年手里有20万BTS的话能分10块bitCNY，不觉得有啥意思。

连我 甘少 都对BTS失望了，可想而知社区的人都是被自己害挂的，再者就是BTS团队的不努力造成的。

排名不断的下跌，其它币不断的超上去，归根到底就是还没有取消黑天鹅的原因，本来这是一个很快解决的事情，结果拖啊拖，根本就不作为。拖到死了为止都不改成。

我提过的这么多方案却根本就没有团队去理，我失望了，我转战场了，我去混曾经最垃圾的LTC去了。

失望归失望，但黑天鹅已经等于实质上取消了啊。

https://bitsharestalk.org/index.php?topic=27753.msg327413#msg327413

bitCNY的黑天鹅保护方案已经投票通过，而且已经实施了啊。bitUSD等复活以后也会进行投票实施黑天鹅保护。

2.你的意思6月份分叉后mcr不通过见证人喂了？有程序自动执行？

通过见证人喂，目前有一个bug导致MCR事实上不能改动，6月硬分叉会修好这个bug。