All,

The listing of bitCNY goes live on LATOKEN from 14 October 2019.

LATOKEN is a Top-20 crypto exchange focusing on providing liquidity for new tokens:
•   $1 bn+ daily turnover
•   400 k+ registered traders
•   450+ crypto pairs available for trading


You can register to trade bitCNY on LATOKEN at this link: http://bit.ly/2mNzFKF

There is also a 14 day free market-making trial available if anyone wants to make use of that service (I will but it would be better if a bigger holder of bitCNY did as well!)

If someone can provide me with a Chinese translation of appropriate announcement text I will include it on the banner. At the minute the draft text says 'Chinese Yuan pegged stablecoin bitCNY is live on LATOKEN from 14 October 2019!' (if it is preferred for me to call it Renminbi I can but for most western readers I think they are used to seeing Yuan).

LATOKEN look to have good legitimate traffic as they are currently Top 10 for 'adjusted volume' on CMC (https://coinmarketcap.com/rankings/exchanges/) so hopefully this will be positive. Just 3% of their current traffic is Chinese so it would be good to see a boost from this bitCNY listing!

If anyone wants to reach out about the market making just message me on telegram (matle85).

Thanks!

Mathew

That's great Ryan. Thank you.

* Another option would be to allow the asset holders to enable assets for pairing and specify which pairs could be opened in case the pair has lending enabled too

This gets my vote. I think involving others is muddying roles - BitShares can add the function and set the rules then others can decide whether to offer it.

I think the minimum liquidity requirement is worth considering but don't think it would add anything meaningful as could be easily gamed by bots and we just end up chasing our tail.

What's the plan for BTC? That's one interesting challenge. Ideally I'd like to see certain exchanges grouping / partnering for liquidity if required initially... Again hard for BitShares to get too involved directly as if we look at pooling BTC how do you decide who's approved, how do you minister it etc.

The ideal solution is some form of custodial/transparent wallet with encrypted keys which only the committee can access if approved by all members, with automated withdrawls / deposits. Could be used to back bitBTC by BTC 1:1.

Quote from: matle85 on June 18, 2019, 09:55:52 am

Correct?

Yes but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number.

Noted - i didn't realise they also get 80% of that fee. Pretty great actually then!

I don't think 80% is high because it is only for normal members - once they upgrade to LTM (which all serious traders will do once they are trading significant volumes) the referrer won't get anything.

Correct?

This is a bit of a turn off for referrers in my view.

it's a good idea to set 80% market fee sharing and reset market fee to 0.1% for smartcoins, irrelevant to make both possible.

then lifetime members actually just pay 0.02% market fee，but will get 0.08% reward from his basic member referee's trading.

it will greatly encourage users to become lifetime member and invite new users.

不是传销，胜似传销。

I agree this is a good idea.

I think this also will bring some big benefit for leveraged trading as well (when we introduce that) as the fee will be based on the leveraged amount (i.e. people inviting people who then carry out leveraged trades will have even more significant gains)

LATOKEN is under process with their technical team for integration - they sent some questions this week but I've been travelling for work so will only reply this evening / tomorrow. Should have a date for 'going live' shortly.