The committee created a new BitAsset with the symbol "CNY16".

The purpose is to test the functions and parameters of BitAssets.

The asset aims to be pegged to the Chinese yuan (RMB). It has a price feed of 16x the market price and an initial collateral ratio (ICR) of 32, so essentially requires 2x initial collateral. The MCR is 1.003, the MSSR is 1.002, force-settlement is disabled, and no settlement on black swan events.

At present the only price feed provider is "in.abit" (account ID 1.2.35248).

Depending on the level of community participation, additional price feed providers may be added.

In principle, other parameters will not be adjusted.

BTW, the web wallet https://wallet.bitshares.org/ does not yet support borrowing CNY16 due to a limitation in code, please use https://develop.bitshares.org/ .

Historically BitShares was always top 5 for operations in a 24 hour period, see: Blocktivity

What happened?

The blockchain space has been moving towards DeFi for quite awhile and with recent regulations around the world, DeFi is no longer a choice, but a requirement. BitShares has the ability to become the clearing house for transacting in other crypto.

How should development time be spent?
How to onboard new users?
How to attract new developers to build apps on top of the BTS blockchain?
How to grow the community once again?
UI - Ease of use and understanding has always been an issue with BitShares. DeFi is complicated and overwhelming for new users. A simple and advanced user interface would greatly improve new user experiences. This can be seen with any modern day stock exchange broker, bank website, even coinbase.

Bitassets - These were a giant draw to utilize the Bitshares blockchain. They have been globally settled multiple times now and have frustrated many traders. The underlying algorithms have been tweaked to prevent gaming the system however they still remain in a globally settled state. Is it as simple as bringing back these stable"ish" coins to regain liquidity?

Documentation - Update all documentation to ELI5 standard. BTS is way beyond a standard send/receive blockchain. Simplified documentation for developers is a must, otherwise they will get overwhelmed, frustrated, and look elsewhere.

Simplified Gateway Setup - Many redundant gateways / liquidity pools will be required for users to exchange crypto. Simplify the process to setup a hosted wallet/gateway/liquidity pool.

What do you think will jump start the community once again?

Yeah BTS price only crashed 70% and 75% less participants on dex since then.But nobody cares.
Keep living in your fake reality

Withdraw your BTS from binance before 7th March 2024! https://hive.blog/hive-120117/@nftea.gallery/reminder-withdraw-your-bitshares-from-binance-before-7th-march-2023-act-now-or-lose-out

"請在 2024 年 3 月 7 日之前從 binance 撤回您的 BTS!"