1
General Discussion / Re: Committee Fund Operation Review
« on: October 20, 2019, 11:19:49 am »A proposal is created to borrow 810K bitCNY with CR=1.61.
1.10.50600 | Expires: 28 Oct 09:59
Change committee-account bitCNY debt by 810,000.0000 bitCNY and collateral by 5,927,727.27273 BTS
borrowing smartcoin to buy back BTS is one method to make the accumulated funds in committee-account to contribute to the ecosystem.
in the past, this method is always opposed because no one know which margin call price is safe enough.
but now, we have threshold feed price, which remove the problem, and now we can borrow with margin call price < threshold feed price without worrying margin call.
if we use the initial 5.96M BTS to continue the borrow and buy back loop, finally committee-account can buy more than 10M BTS , not a very small volume. this worth doing at current market status.
however, there are some other questions need to answer:
1.bitCNY has a almost 10% devaluation, will this operation release more bitCNY to markets and make even more serious devaluation?
bitCNY devaluated because the market price is lower than the threshold feed price, the buying back operation intended to absorb more BTS liquidity from market, not to pull up the price, releasing of several millions of bitCNY do not have obvious impact on bitCNY devaluation.
the devaluation will end after the market price go above 0.22CNY, if we begin the operation after that moment, we will pay higher price in the trading, so now it is better to begin the operation just now.
2. won't the funds be used at the market making contest?
I suggest the MM contest to create a worker to get funds. suppose the contest need 10M BTS, it's better that 10M BTS are released from worker and being bought back buy committee-account, than just releasing the 7M BTS in committee-account to market.
Committee members, please check this proposal and vote according to your opinion.
Reasonable support for repurchase and use of workers to engage in trading contests
有理有据 支持回购 和用worker来搞交易大赛