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Messages - abit

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1
General Discussion / Re: 2020-10-24 Old bitCNY parameters adjustment
« on: October 24, 2020, 02:27:31 pm »
UPDATE: MCR adjusted to 210%

2
中文(Chinese) / Re: 2020年10月24日 老bitCNY参数调整
« on: October 24, 2020, 02:18:17 pm »
更新:MCR 调整为 210%

3
中文(Chinese) / Re: AMM池子赋能计划研讨
« on: October 24, 2020, 02:03:24 pm »
空投建议分期做,参考 CNVOTE ,不定期统计、一个月投一次那种。
如果一次投完的话,不利于池子里积累资金。

4
中文(Chinese) / Re: AMM池子赋能计划研讨
« on: October 24, 2020, 02:00:03 pm »
不错。

根据我的观察,结合前段时间大赛的情况,
内盘玩 BTC 和 USDT 的人和资金相对多点,玩 EOS 的有一些, 玩 ETH 的相对比较少。

所以我个人比较看好 BTS/BTC/EOS/CNY/USDT 之间的交易对和 AMM 池,也会相应的投入一些资金。至于 ETH ,你们先玩玩看,如果热起来,我也可以参与。

另外, CNC 是个很好的补充,可以观察观察。

5
General Discussion / 2020-10-24 Old bitCNY parameters adjustment
« on: October 24, 2020, 01:45:41 pm »
Purpose:
to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral ratio is too low.

Changes:
MCR (Maintenance collateral ratio) adjusted from 195% to 200%, then adjusted to 210%
MSSR (Maximum short-squeeze ratio) adjusted from 151% to 180%
MCFR (Margin call fee rate) adjusted from 8% to 5%

Current parameters:

ICR (Initial collateral ratio) 315%
MCR (Maintenance collateral ratio) 210%
MSSR (Maximum short-squeeze ratio) 180%
MCFR (Margin call fee rate) 5%
FSO (Force settlement price offset) 2%
FSFP (Force settlement fee percent) 1%

The median feed price is 0.22 CNY/BTS.

Borrowing is enabled. The maximum supply is limited to 25,000,000 bitCNY.


Note:

* As of writing, market trading price of BTS on CEXs is around 0.126 CNY, the collateral ratio (CR) of the debt position with the lowest CR in the BitShares DEX is 110.9%, the corresponding black swan price is 0.114 CNY.

* the ICR value 315% for feed price 0.22 effectively means 180% for market price 0.126, and the corresponding black swan price is 0.070:
0.22 / 315% = 0.126 / 180% = 0.070

* the MCR value 210% for feed price 0.22 effectively means 120% for market price 0.126, and the corresponding black swan price is 0.105:
0.22 / 210% = 0.126 / 120% = 0.105

* the MSSR value 180% for feed price 0.22 means collateral of low-CR debt positions will be listed for sale at 0.22 / 180% = 0.122 bitCNY
** the MCFR value 5% means the price for buyers' is 0.22 / (180%-5%) = 0.1257143 bitCNY
** 0.122 / 0.126 = 96.8% which means the actual penalty for being margin called is 3.2%

6
中文(Chinese) / 2020年10月24日 老bitCNY参数调整
« on: October 24, 2020, 01:38:41 pm »
参数调整目的:争取恢复 bitCNY 锚定,缓解部分借款仓位抵押率过低的问题。

今日操作:
维持抵押率(爆仓线) MCR 从 195% 调整为 200% ,后来调整为 210%
最大轧空率(爆仓惩罚上限) MSSR 从 151% 调整为 180%
爆仓费 MCFR 从 8% 调整为 5%

目前参数:
初始抵押率(抵押线) ICR 315%
维持抵押率(爆仓线) MCR 210%
最大轧空率(爆仓惩罚上限) MSSR 180%
爆仓费 MCFR 5%
强清价格偏移 2%
强清费率 1%
喂价 0.22 暂时保持不变

借款功能目前开放,债务上限 2500万 bitCNY

注:
按目前外盘价0.126算,内盘抵押率最低的债仓的抵押率为 110.9% ,黑天鹅价为 0.114 (注:数据待更新)

315%的ICR结合0.22喂价,相当于价格0.126时要求180%的初始抵押率。
计算方法: 0.22 / 315% = 0.126 / 180% = 黑天鹅价 0.070

210%的MCR结合0.22喂价,相当于价格0.126时要求120%的最低抵押率。
计算方法: 0.22 / 210% = 0.126 / 120% = 黑天鹅价 0.105

180%的MSSR结合0.22喂价,相当于抵押品最低卖出价为 0.22 / 180% = 0.122
再结合 5% 的MCFR,相当于要吃爆仓单,最低买单价为 0.22 / (180%-5%) = 0.1257143
同时,0.122 / 0.126 = 96.8% ,相当于实际爆仓惩罚为 3.2%

7
General Discussion / 2020-10-21 Old bitCNY parameters adjustment
« on: October 21, 2020, 10:59:18 am »
Purpose:
to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral ratio is too low.

Changes:
ICR has been adjusted from 295% to 315%
Maximum supply has been adjusted from 28,000,000 to 25,000,000

Current parameters:

ICR (Initial collateral ratio) 315%
MCR (Maintenance collateral ratio) 195%
MSSR (Maximum short-squeeze ratio) 151%
MCFR (Margin call fee rate) 8%
FSO (Force settlement price offset) 2%
FSFP (Force settlement fee percent) 1%

The median feed price is 0.22 CNY/BTS.

Borrowing is enabled. The maximum supply is limited to 25,000,000 bitCNY.


Note:

* As of writing, market trading price of BTS on CEXs is around 0.122 CNY, the collateral ratio (CR) of the debt position with the lowest CR in the BitShares DEX is 103.7%, the corresponding black swan price is 0.119 CNY.

* the ICR value 315% for feed price 0.22 effectively means 174% for market price 0.122, and the corresponding black swan price is 0.070:
0.22 / 315% = 0.122 / 174% = 0.070

* the MCR value 195% for feed price 0.22 effectively means 108% for market price 0.122, and the corresponding black swan price is 0.113:
0.22 / 195% = 0.122 / 108% = 0.113

* the MSSR value 151% for feed price 0.22 means collateral of low-CR debt positions will be listed for sale at 0.22 / 151% = 0.1457 bitCNY
** the MCFR value 8% means the price for buyers' is 0.22 / (151%-8%) = 0.15385 bitCNY

8
中文(Chinese) / 2020年10月21日 老bitCNY参数调整
« on: October 21, 2020, 10:53:12 am »
参数调整目的:争取恢复 bitCNY 锚定,缓解部分借款仓位抵押率过低的问题。

今日操作:
初始抵押率(抵押线) ICR 从 295% 调整为 315%
债务上限从 2800 万调整到 2500 万

目前参数:
初始抵押率(抵押线) ICR 315%
维持抵押率(爆仓线) MCR 195%
最大轧空率(爆仓惩罚上限) MSSR 151%
爆仓费 MCFR 8%
强清价格偏移 2%
强清费率 1%
喂价 0.22 暂时保持不变

借款功能目前开放,债务上限 2500万 bitCNY

注:
按目前外盘价0.122算,内盘抵押率最低的债仓的抵押率为 103.7% ,黑天鹅价为 0.119

315%的ICR结合0.22喂价,相当于价格0.122时要求174%的初始抵押率。
计算方法: 0.22 / 315% = 0.122 / 174% = 黑天鹅价 0.070

195%的MCR结合0.22喂价,相当于价格0.122时要求108%的最低抵押率。
计算方法: 0.22 / 195% = 0.122 / 108% = 黑天鹅价 0.113

151%的MSSR结合0.22喂价,相当于抵押品最低卖出价为 0.22 / 151% = 0.1457
再结合 8% 的MCFR,相当于要吃爆仓单,最低买单价为 0.22 / (151%-8%) = 0.15385

9
General Discussion / bitUSD price feed discussion (blackswan revival)
« on: October 16, 2020, 08:21:23 pm »
Since bitUSD has been globally settled, and likely won't revive anytime soon, we got some time to discuss how to deal with the price feeds and test new rules without messing up the market.

The global-settlement price was 0.0345 USD, the MCR is 150%, so bitUSD will only revive if median price feed exceeds 0.05175 USD.

The threshold was to prevent some debt positions from being margin called. Since all  debt positions have been closed, IMHO it no longer makes sense to have a threshold, but better start feeding real market price.

Please discuss what to do next.

The price feed producer list of bitUSD has been updated to [clockwork] only who are feeding real market price. The list will be adjusted as the discussion goes on.

Another related thread in Chinese: https://bitsharestalk.org/index.php?topic=32702.0

10
中文(Chinese) / Re: bitUSD 喂价讨论(黑天鹅复活相关)
« on: October 16, 2020, 05:50:38 pm »
目前 bitUSD 喂价人名单已更新,目前只有 clockwork 一个人,因为只有他是按实际价格喂价。

后面将根据讨论情况调整。

11
中文(Chinese) / bitUSD 喂价讨论(黑天鹅复活相关)
« on: October 16, 2020, 05:41:26 pm »
因为 bitUSD 已经全局清算,短时间内预计无法复活,所以现在有一个比较长的缓冲期来讨论和调整喂价规则,不会对市场产生大的影响。

对于 bitUSD 来说,喂价的首要意义在于复活,其次是复活后的喂价规则。

这次 bitUSD 黑天鹅价是 0.0345 ,MCR 是 150%,也就是说喂价达到 0.05175 后即可复活。

现在喂价锁定在 0.0345 已经没有什么实际意义。我个人觉得喂价人可以开始按实际价格喂价了。

关于复活,我个人认为,目前的复活规则太容易被大户投机“劫胡”,不够合理。
为了保证复活后有一个相对公平的抵押借款环境,我个人倾向于让 bitUSD 自然复活,也就是等 BTS 价格回升、黑天鹅资金池抵押率达到 150% 以上后,由理事会接管黑天鹅债仓。这个想法可以通过理事会调整 bitUSD 喂价人的方式实现,当然,由于还有一些限制(可以说是BUG),需要喂价人配合才能实现。

复活前,bitUSD 持有人可以通过强清的方式,以黑天鹅价0.0345换取黑天鹅池中的 BTS ,这类强清没有24小时延迟。

复活后,将要重新面对爆仓、强清、脱锚、死亡螺旋等问题。不过,因为 bitCNY 没有全局清算(即使有折价),目前在 bitCNY 上做的一些实验,得到的经验,届时可以用到 bitUSD 上,相信问题不会很大。

目前想到就这么多,希望抛砖引玉。

12
General Discussion / 2020-10-16 EUR and RUBLE force-settment re-enabled
« on: October 16, 2020, 04:58:35 pm »
In order to improve the market condition, the force-settlement feature of EUR and RUBLE has been re-enabled.

Maximum force-settlement volume per hour is set to 0.01% of total supply.

As of writing, there are 3,924,490 BTS in collateral for bitEUR and 2,059,717 BTS for bitRUBLE.

13
为了促进健康抵押,现重新开启 bitEUR(欧元)和bitRUBLE(卢布) 强清功能。

每小时强清限额调整为总量的万分之一。

其他参数不变。

目前 bitEUR 共有近400万BTS的抵押仓, bitRUBLE 有200多万BTS的抵押仓。

14
中文(Chinese) / Re: 2020年10月14日 老bitCNY参数调整
« on: October 16, 2020, 04:50:42 pm »
不觉得爆仓的系统收费高得离谱了吗?
MakerDAO 收13%,我们收8%不算高。

15
General Discussion / 2020-10-14 Old bitCNY parameters adjustment
« on: October 14, 2020, 10:21:35 am »
Purpose:
to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral is too low.

Changes:
MCR has been increased from 185% to 195%
MSSR has been increased from 150% to 151%.
MCFR has been increased from 6% to 8%.

Current parameters:

ICR (Initial collateral ratio) 295%
MCR (Maintenance collateral ratio) 195%
MSSR (Maximum short-squeeze ratio) 151%
MCFR (Margin call fee rate) 8%
FSO (Force settlement price offset) 2%
FSFP (Force settlement fee percent) 1%

The median feed price is 0.22 CNY/BTS.

Borrowing has been enabled earlier. The maximum supply is limited to 28,000,000 bitCNY.


Note:

* As of writing, market trading price of BTS on CEXs is around 0.13 CNY, the collateral ratio (CR) of the debt position with the lowest CR in the BitShares DEX is 109%, the corresponding black swan price is 0.119 CNY.

* the ICR value 295% for feed price 0.22 effectively means 174% for market price 0.13, and the corresponding black swan price is 0.075.

* the MCR value 195% for feed price 0.22 effectively means 115% for market price 0.13, and the corresponding black swan price is 0.113.

* the MSSR value 151% for feed price 0.22 means collateral of low-CR debt positions will be listed for sale at 0.22 / 151% = 0.1457 bitCNY
** the MCFR value 8% means the price for buyers' is 0.22 / (151%-8%) = 0.15385 bitCNY

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