the private smartcoin TCNY is created and below is the info of it.
the issuer is bitcrab, later it will be transfered to a multisig account.
for price feed script, I hope the default SQP value can be set to 100.1% instead of 110%. other setting can be set as same as BitCNY.
@xeroc can you modify the script if necessary?

unlocked >>> get_asset "TCNY"
get_asset "TCNY"
{
  "id": "1.3.734",
  "symbol": "TCNY",
  "precision": 4,
  "issuer": "1.2.121",
  "options": {
    "max_supply": "1000000000000000",
    "market_fee_percent": 0,
    "max_market_fee": "1000000000000000",
    "issuer_permissions": 511,
    "flags": 128,
    "core_exchange_rate": {
      "base": {
        "amount": 1,
        "asset_id": "1.3.734"
      },
      "quote": {
        "amount": 1,
        "asset_id": "1.3.0"
      }
    },
    "whitelist_authorities": [],
    "blacklist_authorities": [],
    "whitelist_markets": [],
    "blacklist_markets": [],
    "description": "",
    "extensions": []
  },
  "dynamic_asset_data_id": "2.3.734",
  "bitasset_data_id": "2.4.33"
}
unlocked >>> get_object 2.4.33
get_object 2.4.33
[{
    "id": "2.4.33",
    "feeds": [[
        "1.2.9952",[
          "2015-12-09T09:15:18",{
            "settlement_price": {
              "base": {
                "amount": 1000,
                "asset_id": "1.3.734"
              },
              "quote": {
                "amount": 388050,
                "asset_id": "1.3.0"
              }
            },
            "maintenance_collateral_ratio": 1750,
            "maximum_short_squeeze_ratio": 1001,
            "core_exchange_rate": {
              "base": {
                "amount": 1000,
                "asset_id": "1.3.734"
              },
              "quote": {
                "amount": 388050,
                "asset_id": "1.3.0"
              }
            }
          }
        ]
      ]
    ],
    "current_feed": {
      "settlement_price": {
        "base": {
          "amount": 0,
          "asset_id": "1.3.0"
        },
        "quote": {
          "amount": 0,
          "asset_id": "1.3.0"
        }
      },
      "maintenance_collateral_ratio": 1750,
      "maximum_short_squeeze_ratio": 1500,
      "core_exchange_rate": {
        "base": {
          "amount": 0,
          "asset_id": "1.3.0"
        },
        "quote": {
          "amount": 0,
          "asset_id": "1.3.0"
        }
      }
    },
    "current_feed_publication_time": "2015-12-09T15:38:36",
    "options": {
      "feed_lifetime_sec": 7200,
      "minimum_feeds": 7,
      "force_settlement_delay_sec": 86400,
      "force_settlement_offset_percent": 200,
      "maximum_force_settlement_volume": 200,
      "short_backing_asset": "1.3.0",
      "extensions": []
    },
    "force_settled_volume": 0,
    "is_prediction_market": false,
    "settlement_price": {
      "base": {
        "amount": 0,
        "asset_id": "1.3.0"
      },
      "quote": {
        "amount": 0,
        "asset_id": "1.3.0"
      }
    },
    "settlement_fund": 0
  }
]

make sense, although it bring complexity.

thanks xeroc! I think will need, let's wait till TCNY is created and check.

transwiser plan to create and run a private smartcoin TCNY.

at first, the parameter of TCNY will be as same as BitCNY except:

1. feed_lifetime_sec will be 7200
2. force_settlement_offset_percent will be 2%

the first change is to make the feed price to trace actual market price more closely. the second change is to make 1:1 pegging possible and attract merchants/customers.

we will have a TCNY committee, which will control the parameter of TCNY by votes, at first there will be 4 memeber, below are their accounts and weights:

1. bitcrab 3
2. baozi(alt) 1.5
3. gulu 1
4. harvey 1

the committee's task is to manage the parameter of TCNY in a decentralized manner, prevent TCNY from being hurt by one single dictator, in the future we will invite more member to join the TCNY committee if necessary.

transwiser will provide gateway and market maker service for TCNY.

we will try to make TCNY an attractive smartcoin for traders, merchants/customers and speculators. hope we can get support from community, witnesses and developers.

transwiser.com

There are far fewer people who want to short in a platform with forced settlement than one with it.   There are far fewer people who want to trade in a platform with more complex features than one that is easy to understand.   Having one good Smartcoin design or a few can attract businesses and that will be a key to success.

do not agree.

the risk brought by force settlement will be finally reflected in the price of BitAssets. it is obvious now BitCNY's price rose about 1~2% than the time without force settlement.(as a result 1:1 peg lose and some merchant/customer leave, but this is another question)  this price rise compensate the shorter's risk and actually the shorter still want to short if necessary.

as I know, many speculators like complex features, as they can study more and make profits if they understand the feature deeper than others.

so I believe force settlement will motivate speculators to trade more, the real question is: whether the 1:1 peg is necessary to attract merchant/customer.

I am not against force settlement, I had requested to disable force settlement temporarily because:

force settlement is a powerful tool, it can bring price floor to smartcoin, it can also be used by speculators to manipulate the market, so while introducing this feature, it is very important to config the environment carefully to try to prevent it from being abused, and protect the user's benefits.

but even 2 days ago, 2 things are not ready to welcome the force settlement.

1. for BitCNY, the settlement price provided by witness is always obvious lower than the actual price.
2.the max settle volume parameter is wrongly set to 20%, according to the design it should be set to 2%.

these 2 factors give speculators big chance to manipulate the market, and expose the shorters to big risks.

 

it's easy to solve this by below setting:

  "force_settlement_offset_percent": 200,
it is set that the force settlement requester need to pay 2%(or other reasonable percent) above the feed price to the shorter.

then the premium can be removed and the shorter will be safe enough and the merchant/consumer can enjoy the 1:1 pegging.

agree.
the feed price is more important than before as the forced settlement feature is integrated in GUI. 

算了，不去争这个了，还是发个private smartcoin自己玩吧。