[Poll] BSIP59:Reduce MSSR of bitUSD to 1.01

[bitcrab]

anyone can help to vote this up? only 3M voting power needed.

we need to make bitUSD peg better, we need to make bitUSD liquidity as good as bitCNY...

[bitcrab]

It's not a surprise to me that bitUSD is in a premium of 2%+.
Also, comparing it with bitCNY is weird as there are not direct off-ramps for bitUSD in contrast to bitCNY.

Personally, I'd leave bitUSD alone for now and focus on further improving bitCNY.

Yes, but to shape the future, we also need to push bitUSD, and even bitEUR forward.

[xeroc]

It's not a surprise to me that bitUSD is in a premium of 2%+.
Also, comparing it with bitCNY is weird as there are not direct off-ramps for bitUSD in contrast to bitCNY.

Personally, I'd leave bitUSD alone for now and focus on further improving bitCNY.

[bitcrab]

As MSSR values, 1% and 2% are different at:

1. 1% will lead to better pegging at time while margin call price impact the expectation on BTS price.

2. 1% reduce the benefits of shorting BTS in half.

3. lower MSSR will make the margin call orders a little more difficult to be eaten. and may lead to some risk accumulation.

We have seen that bitCNY behaved well after the MSSR was reduced to 1.01.

Now bitUSD has a MSSR of 1.02, what we can see is that bitUSD has a 2%+ premium.

I feel it's time to bring a better pegging to bitUSD.

GS protection is already implemented in bitUSD, so no need to worry too much on black swan.

Please find BSIP59 Doc: https://github.com/bitshares/bsips/blob/master/bsip-0059.md for detailed info of BSIP59.

Two worker proposals have been created for this poll:

1.14.207   Poll - BSIP59 - Reduce MSSR of bitUSD to 1.01

1.14.208   Poll - BSIP59 - Keep MSSR of bitUSD as 1.02

please consider the 2 choices carefully before you vote.