Author Topic: suggestion for an committee controlled open market operation fund  (Read 5157 times)

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Offline Thul3

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Re: suggestion for an committee controlled open market operation fund
« Reply #60 on: August 09, 2018, 10:02:22 am »
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this is the initial logic design at the start time of OMO, now when check it again, seems it is a little too conservative.

the OMO has an advantage that other funds do not have, it has daily income of 200K BTS and also bitCNY&bitUSD market fees, so it is more powerful to resist risks - when risk appear, we can use the new coming BTS and smarcoins to increase the ratio.

now the cnytrader team do the trading based on some other logic, mainly on the margin call price and the "bottom price" in our mind, we now suppose the price of about 0.75CNY is the bottom price and it's safe enough to set the margin call price at this point.

yes, tomorrow we'll use the new coming funds to increase the ratio.

and, actually I hope committee members from USD world can take care the committee-usdoperator account and do the bitUSD trading tasks, no problem to remove me from the multisig of committee-usdoperator.

You are already planning future RP funds which i disagree.Many members already stated that this fund is already to big and leave peanuts for other WP .

You can't take future RP funds hostage

the funds is not big enough considering it's
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obligation
. and this WP is helping to maintain the BTS price and thus maintain the value of the BTS balance in each WP.

any WP that need fund can try to attract voting to make itself above the OMO WP and get money.

Which obligation are you taking about ?

1. Charge market fee for smarcoins like bitCNY and bitUSD.

2.Use the collected fee to buy BTS. 

3. Borrow bitCNY/bitUSD by putting the bought BTS into collateral with high collateral ratio and continue to buy in BTS.



1.the purpose of the fund is to adjust the supply of smartcoins, so operators need to decide depend on the market condition, borrow smartcoins and buy BTS while the smartoin is in shortage, sell BTS and reduce debt position while the smartcoin is over supplied.

2. operators need to take good care while operate with debt positions, as an initial rough principle, when BTS price is under 2CNY:
while collateral ratio > 4, borrowing more smartcoin is allowed.
while 4>collateral ratio>3, smartcoin income can be used to buy more BTS, but borrowing more smartcoin is not allowed.
while 3>collateral ratio, smartcoin income need to be used to reduce debt position, buying more BTS is not allowed.

3.when more than 10M BTS are accumulated in one operator account, the account need to be locked by setting both active key and owner key to committee-account, a new operation account will be created for subsequent operation.



You are in breach of every single point of your WP.
Maybe you can show me the obligation you are talking about in your WP that it needs to "to maintain the BTS price" cause maybe i'm blind and i can't see it.


« Last Edit: August 17, 2018, 07:29:18 pm by Thul3 »

Offline xeroc

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Re: suggestion for an committee controlled open market operation fund
« Reply #61 on: August 17, 2018, 07:11:51 pm »
Thank you for changing the tone of your posts.
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