Author Topic: how to revive bitCNY?  (Read 9571 times)

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Offline guoan

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Offline yamtt

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Offline alt

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agree
for all the bitCNY holders, 1 bitCNY can't buy more BTS than at GS price if black swan happen,
so there are almost no lost to help eatern the margin call orders nearby GS price.
so please help eatern the margin call orders when the witness give the reasonable margin call price.

Offline bitcrab

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frankly speaking, bitCNY is already in black swan status if the feed price reflect the real market price.

however, I don't think it's good to return to feed real market price and leave black swan happen for bitCNY,  as we have seen in bitUSD, after black swan happened, now the peg break, borrowing stop, hard to revive.

I suggest to protect bitCNY from black swan by setting a black swan protection price, say black swan protection price = global settlement price*1.11.

feed price = max(market price, black swan protection price)

then when market price goes up, the margin called orders will be eaten step by step, the black swan protection price become lower and lower, and bitCNY has chance to revive.

Thoughts?
Email:bitcrab@qq.com