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31
Updated on 15th December 2019.

Starting from Tuesday 17th December 2019, BTS/[gateways].ETH and BTS/[gateways].EOS market pairs will be added to the market making contest. The maximum reward of each market will be 15,000 BTS each day. Starting from the same date, rewards for BTS/BTC and BTS/USDT markets will be reduced to up to 15,000 BTS each market each day.

## Rewards
BTS / [gateways].ETH
BTS / [gateways].EOS
(15,000 BTS each)


## Gateways
Gateways who have interest please reply in this thread or the main contest thread (https://bitsharestalk.org/index.php?topic=31515.0) with asset symbols. As before, an audit page is required.

### qualified gateway asset(s) and corresponding audit page(s):
SPARKDEX.ETH https://audit.bitspark.io/
RUDEX.ETH https://audit.rudex.org/
GDEX.ETH https://www.gdex.io/noticeAssets
XBTSX.ETH https://xbts.io/audit

RUDEX.EOS https://audit.rudex.org/

### gateway assets that are replied in this thread buy not yet qualified:
GDEX.EOS

The main contest thread (https://bitsharestalk.org/index.php?topic=31515.0) has been updated.

Thanks for participation.

32
UPDATE (2019-12-05): https://bitsharestalk.org/index.php?topic=31821.0
Starting from Friday 6th December, RUDEX.USDT and XBTSX.BTC will be added to the contest.

交易大赛通知:12月6日开始 RUDEX.USDT 和 XBTSX.BTC 加入大赛交易对清单 ,结果会体现在12月7日发6日奖励的数据里。

33
Starting from Friday 6th December, RUDEX.USDT and XBTSX.BTC will be added to the contest.

More info: https://bitsharestalk.org/index.php?topic=31515.0

35
UPDATE (2019-11-27): https://bitsharestalk.org/index.php?topic=31768.0
Starting from Saturday 30th November, the buyer:seller reward ratio will be changed from 90:10 to 70:30.

交易大赛通知:11月30日开始买卖盘奖励比例由90:10调整为70:30 ,结果会体现在12月1日发11月30日奖励的数据里。

36
Starting from Saturday 30th November, the buyer:seller reward ratio will be changed from 90:10 to 70:30.

More info: https://bitsharestalk.org/index.php?topic=31515.0

37
中文(Chinese) / 理事会提案:调整手续费
« on: November 22, 2019, 10:51:05 pm »
距离理事会上次调整手续费已经有一个月。
由于BTS价格下跌,为保持按法币计价的费率稳定,理事会按照惯例发起调整手续费的提案。

https://cryptofresh.com/p/1.10.52777

如果提案通过,按BTS计价的手续费将上调约 24.7% ,基本转账费由 0.697 BTS 上调为 0.869 BTS

  广大吃瓜群众表示手续费调整对日常生活影响不大。涨价后系统收入增加,可促进BTS价格上涨 

38
It's been a month since last time the committee adjusted the fee schedule.

According to the USD-Denominated fee schedule (https://bitsharestalk.org/index.php/topic,21368.0.html, https://github.com/bitshares/committee-tools/blob/master/usd-denominated-fees/config.py), the committee is voting on a proposal which will update the operation fees again.

https://cryptofresh.com/p/1.10.52777

Summary: since BTS price has fallen significantly, all operation fees in terms of BTS would be increased by around 24.7% if the proposal got approved.

40
中文(Chinese) / BTS锁仓激励计划(初步方案讨论)
« on: November 18, 2019, 07:07:32 pm »
众所周知,锁仓激励在币圈已经深入人心,英文叫做 staking ,很多币都有锁仓激励机制。
(相关资料待补充)

BTS 内置基本锁仓功能,也就是 vesting balance 功能,vesting balance 不到时间是取不出来的,是真正的锁仓。但是这个功能不带激励机制。
CryptoBridge 利用这个功能,使用另外转币的模式实现了 BCO 币的锁仓激励机制。
我们也可以利用这个功能来为 BTS 本身做一个锁仓激励计划。


我的大概思路是这样:

1. 设置一个奖金池,比如每天奖励 1 万 BTS
2. 当天新增锁仓BTS的账户,根据新锁仓金额,按比例瓜分当天的奖金,次日发放(即锁即奖,不用等到期发奖,也不用等慢慢发奖)
3. 锁仓有时间要求,锁仓时间长的,瓜分奖金时有更高权重
4. 机制变化:
  * 每天奖励金额不固定,比如,一个池,每天新加入池的奖金数量 X ,拿出其中 Y% 的比例来发奖;
  * 每天内,早锁的人比晚锁的人有更高的奖励权重,缓解都在最后一分钟做决定的问题;
  * 每天的奖励金额上限根据新增锁仓的总金额变化(这点还没想好,一方面,每天释放的资金有限,另一方面,抢单比固定比例奖励更吸引人)

如果奖金设置合理,效果应该不错。

几个需要考虑的事情:
1. 资金来源。估计要申请 worker 资金。
2. UI支持。目前好像没有好用的GUI用来创建 vesting balance ?可能cryptobridge有个界面,我没去看。官方网页钱包做个界面不难,但是我不指望了,等不及。其他手机钱包也需要一点时间来开发这个功能。
3. 具体参数设置,包括奖金多少,比例多少,时间多长,需要结合行情(其他币的模式)来定。
4. 锁仓的bts是没有投票权的。参与者需要权衡利弊

讨论一下?

41
UPDATE (2019-11-15): https://bitsharestalk.org/index.php?topic=31615.0
Starting from Sunday 17th November, buyer:seller reward ratio will be adjusted from 98:2 to 90:10.

交易大赛通知:11月17日开始买卖盘奖励比例由98:2调整为90:10 ,结果会体现在18日发17日奖励的数据里。

42
Starting from Sunday 17th November, buyer:seller reward ratio will be changed from 98:2 to 90:10.

More info: https://bitsharestalk.org/index.php?topic=31515.0

43
General Discussion / Market making contest (main thread)
« on: November 14, 2019, 01:12:55 pm »
LATEST UPDATE (2020-05-08): https://bitsharestalk.org/index.php?topic=32353.0
In order to adjust rules, the MM contest will be paused after this Sunday (2020-05-10). Rewards distribution for 2020-05-10 will still be proposed, but no more rewards after.
The details about the new rules and the date to resume the contest will be announced in another post.
---------------
Please check the end of this post (OP) for earlier updates.

## Brief
The DEX needs liquidity.
Market makers who leave orders on the market provide liquidity.
The contest is to incentivize market makers, consequentially attract traders and bring volume to the DEX.

## Rewards
Up to 60,000 BTS every day. Funding by the committee.

## Start Date
2019-10-25 0:00:00 UTC
End date not yet decided.

## Markets (base asset / quote asset)

### Starting from 2020-01-12
BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS
(daily reward 7,500 BTS each market group since 2020-01-27, 10,000 BTS till 2020-01-26)

[gateways].BTC / bitAssets
[gateways].ETH / bitAssets
[gateways].EOS / bitAssets
[gateways].USDT / bitAssets
(daily reward 7,500 BTS each market group since 2020-01-27, 5,000 BTS till 2020-01-26)

### 2019-12-17 ~ 2020-01-11
BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH
BTS / [gateways].EOS
(daily reward 15,000 BTS each market group)

### 2019-10-25 ~ 2019-12-16
BTS / [gateways].BTC
BTS / [gateways].USDT
(daily reward 30,000 BTS each market group)

## BitAssets
The chosen bitAssets are:
* bitCNY
* bitUSD
* bitEUR
* bitRUBLE

## Gateways
Gateways who have interest in participating in the contest please reply to this thread.
Every gateway needs to prove that its gateway assets are fully backed by real assets.

(The lists below will be updated from time to time as the contest progresses)

### qualified gateway asset(s) and corresponding audit page(s):
RUDEX.BTC https://audit.rudex.org/
GDEX.BTC https://www.gdex.io/noticeAssets
XBTSX.BTC https://xbts.io/audit (Added on 2019-12-06)

GDEX.USDT https://www.gdex.io/noticeAssets
RUDEX.USDT https://audit.rudex.org/ (Added on 2019-12-06)
XBTSX.USDT https://xbts.io/audit (Added on 2019-12-15)

RUDEX.ETH https://audit.rudex.org/ (Added on 2019-12-17)
GDEX.ETH https://www.gdex.io/noticeAssets (Added on 2019-12-17)
XBTSX.ETH https://xbts.io/audit (Added on 2019-12-17)

RUDEX.EOS https://audit.rudex.org/ (Added on 2019-12-17)
GDEX.EOS https://www.gdex.io/noticeAssets (Added on 2020-01-04)

### gateway assets that are replied in this thread but not yet qualified:
(none)

### gateway assets that were in the contest but got removed later:
SPARKDEX.BTC https://audit.bitspark.io/ (Added on 2019-10-25) (Removed on 2020-02-04)
SPARKDEX.ETH https://audit.bitspark.io/ (Added on 2019-12-17) (Removed on 2020-02-04)

## Rules

### Brief
Market makers place orders onto the order book.
The bigger the orders and
the closer the orders to the opposite side of the order book and
the longer the orders lasting on the order book,
the more rewards the owner of the orders will earn.

### Details

After each block is produced, a snapshot of the order book will be captured. Every order on the markets will be scored.

The orders whose size is smaller than "minimum valid order size" will be ignored when calculating.

Get the lowest ask price (LAP) and highest bid price (HBP) of the remaining order book.
For bids (orders buying base asset), order_distance = (LAP - order_price) / LAP
For asks (orders selling base asset), order_distance = (order_price - HBP) / order_price

Group 1: orders whose order_distance is within [0%, 1%] will share up to 53% of total reward;
Group 2: orders whose order_distance is within (1%, 2%] will share up to 25% of total reward;
Group 3: orders whose order_distance is within (2%, 3%] will share up to 12% of total reward;
Group 4: orders whose order_distance is within (3%, 5%] will share up to 6% of total reward;
Group 5: orders whose order_distance is within (5%, 7%] will share up to 3% of total reward;
Group 6: orders whose order_distance is within (7%, 10%] will share up to 1% of total reward.

For each order group, group_score = group_reward_percent * min(1, total_order_size / group_target_depth).

For each order within an order group,
order_weight = order_size * ( 1 + (group_upper_bound - order_distance) / (group_upper_bound - group_lower_bound) )
order_score = group_score * order_weight / sum(order_weight)

For each day,
for each market group,
daily_bids_reward = max_reward_this_market * bids_reward_percent * sum(bids_group_score) / total_blocks_produced_in_that_day
daily_asks_reward = max_reward_this_market * asks_reward_percent * sum(asks_group_score) / total_blocks_produced_in_that_day

For traders,
account_bids_reward = daily_bids_reward * sum(bids_order_score) / sum(bids_group_score)
account_asks_reward = daily_asks_reward * sum(asks_order_score) / sum(asks_group_score)
account_daily_reward = account_bids_reward + account_asks_reward

### Parameters

* BTS markets
BTS / [gateways].BTC
BTS / [gateways].USDT
BTS / [gateways].ETH (starting from 2019-12-17)
BTS / [gateways].EOS (starting from 2019-12-17)

  - daily reward
    Initially up to 30,000 BTS for each market group.
    Starting from 2019-12-17, up to 15,000 BTS for each market group.
    Starting from 2020-01-12, up to 10,000 BTS for each market group.
    Starting from 2020-01-27, up to 7,500 BTS for each market group.

  - buyer:seller reward ratio
    Initially, for each market group, 98% of total reward will go to BTS buyers and the rest will go to BTS sellers.
    Starting from 2019-11-17, buyer:seller reward ratio adjusted from 98:2 to 90:10.
    Starting from 2019-11-30, buyer:seller reward ratio adjusted from 90:10 to 70:30.

  - target depth of each order group 1,000,000 BTS,
  - minimum valid order size 100 BTS.

* [gateways].BTC / bitAssets (starting from 2020-01-12)
  - daily reward
    initially 5,000 BTS,
    starting from 2020-01-27, adjusted to 7,500 BTS
  - buyer:seller reward ratio 50:50,
  - target depth of each order group
    initially 4 BTC,
    starting from 2020-01-27, adjusted to 2 BTC
  - minimum valid order size 0.001 BTC

* [gateways].ETH / bitAssets (starting from 2020-01-12)
  - daily reward
    initially 5,000 BTS,
    starting from 2020-01-27, adjusted to 7,500 BTS
  - buyer:seller reward ratio 50:50,
  - target depth of each order group
    initially 200 ETH,
    starting from 2020-01-27, adjusted to 100 ETH
  - minimum valid order size 0.05 ETH

* [gateways].EOS / bitAssets (starting from 2020-01-12)
  - daily reward
    initially 5,000 BTS,
    starting from 2020-01-27, adjusted to 7,500 BTS
  - buyer:seller reward ratio 50:50,
  - target depth of each order group
    initially 10,000 EOS,
    starting from 2020-01-27, adjusted to 5,000 EOS
  - minimum valid order size 2 EOS

* [gateways].USDT / bitAssets (starting from 2020-01-12)
  - daily reward
    initially 5,000 BTS,
    starting from 2020-01-27, adjusted to 7,500 BTS
  - buyer:seller reward ratio 50:50,
  - target depth of each order group
    initially 50,000 USDT,
    starting from 2020-01-27, adjusted to 25,000 USDT
  - minimum valid order size 10 USDT

## Reward Data

Will be posted in this thread.

Can also check blockchain explorers or web wallets:
https://bts.ai/details/account/committee-trade
https://cryptofresh.com/u/committee-trade
https://wallet.bitshares.org/#/account/committee-trade

### How to verify the reward data

1. run a patched (https://github.com/abitmore/bitshares-core/tree/ugly-3.0 ) delayed node (https://github.com/bitshares/bitshares-core/wiki/Delayed-Node) to generate snapshots (update "config.ini" as follows)
Code: [Select]
# Ugly snapshot start block number
ugly-snapshot-start-block = 42000000

# Ugly snapshot markets
# Since 2020-01-11
ugly-snapshot-markets = [ ["1.3.0","1.3.2241"], ["1.3.0","1.3.3926"], ["1.3.0","1.3.4157"], ["1.3.0","1.3.4198"], ["1.3.0","1.3.5286"], ["1.3.0","1.3.5542"], ["1.3.0","1.3.5589"], ["1.3.0","1.3.2598"], ["1.3.0","1.3.3715"], ["1.3.0","1.3.4199"], ["1.3.0","1.3.4760"], ["1.3.0","1.3.2635"], ["1.3.0","1.3.4106"],                       ["1.3.113","1.3.2241"], ["1.3.113","1.3.3926"], ["1.3.113","1.3.4157"], ["1.3.113","1.3.4198"], ["1.3.113","1.3.5286"], ["1.3.113","1.3.5542"], ["1.3.113","1.3.5589"], ["1.3.113","1.3.2598"], ["1.3.113","1.3.3715"], ["1.3.113","1.3.4199"], ["1.3.113","1.3.4760"], ["1.3.113","1.3.2635"], ["1.3.113","1.3.4106"],                       ["1.3.121","1.3.2241"], ["1.3.121","1.3.3926"], ["1.3.121","1.3.4157"], ["1.3.121","1.3.4198"], ["1.3.121","1.3.5286"], ["1.3.121","1.3.5542"], ["1.3.121","1.3.5589"], ["1.3.121","1.3.2598"], ["1.3.121","1.3.3715"], ["1.3.121","1.3.4199"], ["1.3.121","1.3.4760"], ["1.3.121","1.3.2635"], ["1.3.121","1.3.4106"],                       ["1.3.120","1.3.2241"], ["1.3.120","1.3.3926"], ["1.3.120","1.3.4157"], ["1.3.120","1.3.4198"], ["1.3.120","1.3.5286"], ["1.3.120","1.3.5542"], ["1.3.120","1.3.5589"], ["1.3.120","1.3.2598"], ["1.3.120","1.3.3715"], ["1.3.120","1.3.4199"], ["1.3.120","1.3.4760"], ["1.3.120","1.3.2635"], ["1.3.120","1.3.4106"],                       ["1.3.1325","1.3.2241"], ["1.3.1325","1.3.3926"], ["1.3.1325","1.3.4157"], ["1.3.1325","1.3.4198"], ["1.3.1325","1.3.5286"], ["1.3.1325","1.3.5542"], ["1.3.1325","1.3.5589"], ["1.3.1325","1.3.2598"], ["1.3.1325","1.3.3715"], ["1.3.1325","1.3.4199"], ["1.3.1325","1.3.4760"], ["1.3.1325","1.3.2635"], ["1.3.1325","1.3.4106"] ]

# 2019-12-14 ~ 2020-01-10
#ugly-snapshot-markets = [ ["1.3.0","1.3.861"], ["1.3.0","1.3.2241"], ["1.3.0","1.3.3926"], ["1.3.0","1.3.4157"], ["1.3.0","1.3.4198"], ["1.3.0","1.3.1042"], ["1.3.0","1.3.5286"], ["1.3.0","1.3.5542"], ["1.3.0","1.3.5589"], ["1.3.0","1.3.850"], ["1.3.0","1.3.2598"], ["1.3.0","1.3.3715"], ["1.3.0","1.3.4199"], ["1.3.0","1.3.4760"], ["1.3.0","1.3.1999"], ["1.3.0","1.3.2635"], ["1.3.0","1.3.4106"] ]

# 2019-12-04 ~ 2019-12-13
#ugly-snapshot-markets = [ ["1.3.0","1.3.861"], ["1.3.0","1.3.2241"], ["1.3.0","1.3.3926"], ["1.3.0","1.3.4157"], ["1.3.0","1.3.4198"], ["1.3.0","1.3.1042"], ["1.3.0","1.3.5286"], ["1.3.0","1.3.5542"] ]

# 2019-10-25 ~ 2019-12-03
#ugly-snapshot-markets = [ ["1.3.0","1.3.861"], ["1.3.0","1.3.1570"], ["1.3.0","1.3.2241"], ["1.3.0","1.3.3926"], ["1.3.0","1.3.4157"], ["1.3.0","1.3.4198"], ["1.3.0","1.3.1042"], ["1.3.0","1.3.5144"], ["1.3.0","1.3.5286"] ]

#  "id": "1.3.2241", "symbol": "GDEX.BTC", "precision": 8,
#  "id": "1.3.3926", "symbol": "RUDEX.BTC", "precision": 8,
#  "id": "1.3.4157", "symbol": "XBTSX.BTC", "precision": 8,
#  "id": "1.3.4198", "symbol": "SPARKDEX.BTC", "precision": 7,
#
#  "id": "1.3.5286", "symbol": "GDEX.USDT", "precision": 7,
#  "id": "1.3.5542", "symbol": "RUDEX.USDT", "precision": 6,
#  "id": "1.3.5589", "symbol": "XBTSX.USDT", "precision": 6,
#
#  "id": "1.3.2598", "symbol": "GDEX.ETH", "precision": 6,
#  "id": "1.3.3715", "symbol": "RUDEX.ETH", "precision": 7,
#  "id": "1.3.4199", "symbol": "SPARKDEX.ETH", "precision": 6,
#  "id": "1.3.4760", "symbol": "XBTSX.ETH", "precision": 7,
#
#  "id": "1.3.2635", "symbol": "GDEX.EOS", "precision": 6,
#  "id": "1.3.4106", "symbol": "RUDEX.EOS", "precision": 4,

#  "id": "1.3.113", "symbol": "CNY", "precision": 4,
#  "id": "1.3.121", "symbol": "USD", "precision": 4,
#  "id": "1.3.120", "symbol": "EUR", "precision": 4,
#  "id": "1.3.1325", "symbol": "RUBLE", "precision": 5,

p2p-endpoint = 127.0.0.1:0
seed-nodes = []
trusted-node = 127.0.0.1:8090

#...
plugins = delayed_node

2. Run the Ruby script (https://github.com/abitmore/bts-mmcontest-scripts) to calculate rewards from the snapshot files

## Links
BitShares News: https://news.bitshares.org/bitshares-trading-contest/
Steemit: https://steemit.com/bitshares/@abit/bitshares-dex-mm-trading-contest-start-on-25th-oct-bitshares-dex-10-25
Twitter: https://twitter.com/BitSharesOrg/status/1187654212630351872
Telegram: https://t.me/BTSMarketMakers
Wechat: please add GDEXxiaozhushou and send message "BTS" to join the group
Chinese post: https://bitsharestalk.org/index.php?topic=29665.0
Chinese post: https://dpos.club/t/topic/14

## Misc
The committee has the right to update the rules as the contest progresses. Updates will be announced in advance.

## Updates

LATEST UPDATE (2020-05-08): https://bitsharestalk.org/index.php?topic=32353.0
In order to adjust rules, the MM contest will be paused after this Sunday (2020-05-10). Rewards distribution for 2020-05-10 will still be proposed, but no more rewards after.
The details about the new rules and the date to resume the contest will be announced in another post.
---------------
UPDATE (2020-02-03): https://bitsharestalk.org/index.php?topic=32059.0
Starting from Tuesday 4th February, SPARKDEX.BTC and SPARKDEX.ETH will be removed from the contest due to [the announced closing of Bitspark] (https://www.bitspark.io/blog-posts/dear-bitspark-community).
---------------
UPDATE (2020-01-25): https://bitsharestalk.org/index.php?topic=32041.0
Starting from Monday 27th January,
* daily reward of all market groups in the contest will be changed to 7,500 BTS each,
* target depths of bitasset markets will be halved.
---------------
UPDATE (2020-01-10): https://bitsharestalk.org/index.php?topic=32007.0
Starting from Sunday 12th January, some bitAsset market pairs will be added to the contest.
Starting from the same date, reward for BTS markets will be reduced to up to 10,000 BTS each market each day.
---------------
UPDATE (2020-01-03): https://bitsharestalk.org/index.php?topic=31979.0
Starting from Saturday 4th January, GDEX.EOS will be added to the contest.
---------------
UPDATE (2019-12-15): https://bitsharestalk.org/index.php?topic=31863.0
Starting from Tuesday 17th December, BTS/ETH and BTS/EOS markets will be added to the contest.
Starting from the same date, reward for BTS/BTC and BTS/USDT will be reduced to up to 15,000 BTS each market each day.
---------------
UPDATE (2019-12-13): https://bitsharestalk.org/index.php?topic=31884.0
Starting from Sunday 15th December, XBTSX.USDT will be added to the contest.
---------------
UPDATE (2019-12-05): https://bitsharestalk.org/index.php?topic=31821.0
Starting from Friday 6th December, RUDEX.USDT and XBTSX.BTC will be added to the contest.
---------------
UPDATE (2019-11-27): https://bitsharestalk.org/index.php?topic=31768.0
Starting from Saturday 30th November, the buyer:seller reward ratio will be changed from 90:10 to 70:30.
---------------
UPDATE (2019-11-15): https://bitsharestalk.org/index.php?topic=31615.0
Starting from Sunday 17th November, buyer:seller reward ratio will be adjusted from 98:2 to 90:10.
---------------
(2019-11-14) The original post was accidentally deleted. This is a re-post after slightly modified.

44
General Discussion / Discussion for the market making contest, stage two
« on: November 08, 2019, 01:04:26 pm »
With the first stage of MM contest, we've gained some market depth in the BTS/BTC and BTS/USDT pair. As of writing, the depths of those markets in the BitShares DEX are deeper than top centralized exchanges like Binance, Huobi and Poloniex. Although due to low trading volume which indicates a lack of trading activities, our market depth hasn't been proven stable, it's still a foundation for future improvements.

Admittedly, the hottest BTS market in the centralized exchanges is the BTS/QC pair on zb.com (https://trans.zb.com/markets/btsqc), although the reported volume is somewhat fake. QC is an asset targeting being pegged to CNY, no matter how it's implemented. That means the Chinese traders are the most active parties trading BTS. Actually the market depth of BTS/QC was not very good, at least at the last time when I checked.

The second stage of MM contest aims to build up a new BTS/CNY market in the BitShares DEX, to attract Chinese traders to trade in the DEX. Note: bitCNY is not an option since it's a direct derivative of BTS and the BTS/bitCNY market already has quite some liquidity.

Some options I've considered:
1. CNC. CNC is an IOU asset issued by AEX in BitShares, pegged to CNY, claimed to be backed by sufficient amount of real assets. It's a direct competitor of ZB's QC in the crypto world. Since it's based on BitShares, we have a good reason to support it. On the other hand, AEX still need to show us the proof that it's fully backed.
2. GCNY. GCNY is a market-pegged asset with GDEX.BTC as collateral, created by the GDEX team. The team has ever proposed to transfer the asset to the committee. GDEX has a proof that GDEX.BTC is fully backed, thus GCNY is somewhat trustworthy.
3. A new asset backed by a USDT gateway asset. It's perceived that traders have greater interest in trading in BTS/USDT pair than trading BTS/BTC pair, thus an asset backed by USDT makes more sense. In addition, the exchange rate of USDT/CNY is relatively stable, so it's less risky for traders to create/borrow CNY by putting some USDT as collateral, that means it's easier to bootstrap the BTS/CNY market.

Thoughts?

P.S. I know there are risks related to IOUs, however not taking risks means no progress.

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中文(Chinese) / DEX大赛25号开始
« on: October 24, 2019, 11:34:54 am »

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