Stable coins no longer become stable if witnesses change MCR/MSSR every minute or every hour. Investors will feel very unsecure because the coin become very uncertain.

Thus I prefer the community propose BSIP to change MCR/MSSR, committee members announce it once it voted it and then witnesses implement it.

this is what I think, if MCR/MSSR change frequently, it will bring much trouble/uncertainty to traders/smartcoin users on estimating the risk and making decision.

Now when a debt position owner need to sell some collateral to reduce debt, he need to firstly withdraw some collateral from the debt position with reducing the CR and then he can sell the collateral and then pay debt.

Firstly, several steps are needed to complete this "close long" operation, inconvenient.
secondly, this add more risk to the system. withdrawing some BTS from the debt position clearly increase the risk of margin call. one need to decrease risk by selling collateral and pay debt, but he need firstly increase the risk, reluctant?

So I greatly advise to add a "close long" feature, within this feature one can place sell orders to sell the BTS collateral inside the debt position, when the sell order is partly or completely filled, the got smartcoins will be used to reduce the debt automatically.

Any relevant development plan on this?

 

    喂价严重滞后，反应太慢，内盘做市不如外盘，所以内盘交易量很低，手续费杯水车薪，没多大意义。前两天，内盘喂价0.36，外盘中币都0.45了。这样的喂价机制不适应市场做市。

这不是问题，喂价本来就应该对突发的价格变化有一定的平滑作用。

I can get us listed on any of these in the next 3-4 weeks for bitCNY and BTS if we can make arrangements for the account to pay the listing fee:

LATOKEN (number 20)
IDCM (number 25)
HotBit (number 42)
Exrates (number 34)

The above are reasonable/standard level fees with decent offers negotiated considering their ranking (in my view).

I can also get us listed on IDAX (number 8.) but the cost is higher and they were less willing to come down.

I share DLs view some are better than others so am not suggesting we go with all, I just think for sure one of those is just as worthy of listing/bounty as biki

I've personally assisted Mathew over the past 2,5 months in assembling correct agreements, proper approach and to not rush during the bitUSD Black Swan. I would appreciate any reasonable explanation for this, since yeah...

- IDCM Listing
- Exrates Listing

these 2 were gold mines. LATOKEN has shitty organization and fake volumes so it wasn't my choice of support at the time, but still... biki ?

Chee®s

guys I appreciate your work, now what I got is:

1.the worker is voted out and now there's only 1.62M BTS left.
2.seems LATOKEN is not a good choice?

so I think you can select CEXs from IDCM, Exrates, and also HotBit  and work on that following the process defined in this thread, make sure the left fund can cover the cost for listing.

因为我10倍的抵押单都爆仓了，你这从1.75调到1.2有什么意义？

这次牛熊转换，BTC从两万刀跌到3000刀，跌价超过80%，指望BTS在长期间内价格波动小于BTC并不现实，也不应该成为系统设计或者交易策略制定的逻辑前提。

抵押者无论是否借bitCNY加仓，都应该对自己债仓的风险敞口有清醒认识，该了结了结，该止损止损。

从系统设计的角度，应该在可行的范围内，尽量让规则充分释放多头能量，给做空收割的策略制造更多困难，用尽量柔软的方式让风险及时得到化解，还要让bitCNY锚定程度足够好。

黑天鹅防护比全局清算要好，因为没有让抵押发行bitCNY中断，也没有让高抵押率的债仓陪葬，而且爆仓单依然可以被吃，bitCNY从黑天鹅防护状态回归到正常状态远比从全局清算状态复活容易。

不论是黑天鹅防护还是全局清算，都有点熔断机制的意思，让bitCNY贬值，相当于给做空收割的策略制造了更多困难，只是全局清算付出的代价太大了。

在安全范围内调低MCR，可以更充分地释放多头能量，提高bitCNY发行能力。

调低MSSR，减小爆仓惩罚，是让风险的化解更柔软，也给做空收割制造了更多困难。

现在觉得仍然比较需要的，就是在仓位管理上加上“卖出平多”功能，用户可以选择价格挂单卖出抵押的BTS来平仓，方便进行风控。

jademont and I are planning to go to Ho Chi Minh City to attend the Blockchain Summit Vietnam 2019 at 30th-31th this month, if anyone there we can meet.

In the coming months, some important things will happen and give apparent impact on BTS ecosystem.

1. the hard fork in the second half of April.

As I know, some interesting features like market fee sharing(BSIP43) will become active after the hard fork, what I care most  is that MCR will be changeable after the update.

Several months ago when the community discussed BSIP42, the possibility to adjust MCR dynamically has also been discussed，now when I review the discussed proposal, I think maybe it is not good to let witnesses adjust MCR frequently, it should be sufficient to follow BSIP59 to reach a consensus on a MCR value, and request witnesses to feed that value.

In community discussion, seems 1.6 is an appropriate value for bitCNY, I plan to issue a poll voting according BSIP59 for that.

2. reviving of bitUSD

if MCR of bitCNY change to 1.6, we can expect that the bitCNY supply will increase at least 10% in short term without other factors, and this will also bring an apparent rise up of BTS price.

current BTS price in USD is 0.0497, close to 0.0511, the global settlement price, we can expect that the MCR change of bitCNY will help the BTS price to go above 0.0511 USD, which will make the reviving of bitUSD much easier then current status.

3.to build a more competitive DEX

To make Bitshares DEX more competitive, we need to provide advanced permission feature to institutional users, in a typical scenario, institution A need institution B to provide some trading service, they need such an account: A fully control this account however B is only authorized to trade in some specified trading pairs within this account. now GDEX is cooperate with some market maker, we have a strong feel that we need this kind of account structure.

Fortunately I found BSIP40 can provide such feature and is already approved several months ago and in development, unfortunately as I know BSIP40 can go live at earliest as after the hard fork in Oct, anyway, I hope the core team can give high priority to this feature in the task list, I believe not only GDEX, but also many other institutions in BTS ecosystem are in great demand on this feature.

One other big thing is the market fee of bitCNY and bitUSD, now the market fee of all the smartcoins are 0.1%, this is not friendly enough to many big users.

Taking GDEX as example, we now invite maker makers to trade in DEX, when they make market in pairs like GDEX.EOS/GDEX.BTC, we will return the market fee back to them to save the market making cost, however, if we request them to make market in pairs like GDEX.BTC/bitCNY, we cannot return the bitCNY market fee as it is charged by committee-account, so we need to make the market fee of bitCNY low enough to make market making feasible, comparing to the fee level in CEX, I'd like to propose to reduce the market fee of bitCNY and bitUSD to 0.04% or lower.