how to revive bitCNY?

[akledirs]

as currently there is big quantities of margin call orders, gdex-witness feed max(market price*MSSR, black swan protection price) to protect price from being pushed down with the positive feedback effect.

I agree that it's better to feed market price and set MSSR to a value close to 101%, however this need more discussion to reach consensus.

Better do MSSR dynamic in depend from worst CollateralRatio. More CR - less MSSR and on the contrary but after peak value (on my opinion CR=1.2 and MSSR~19%) if CR decrease need also decrease and MSSR for protection from BlackSwan. Must be stimulation for debtors not hold very low CR - this not safety for MPA. And better this regulation write in core-function, for protection from bitcrab 

[bitcrab]

gdex-witness plan to update feed price algorithm for bitCNY as below:

Code: [Select]

plan for next update on bitCNY:

Pdex：BTS price in DEX in smartcoin
Pf: current feed price
premium: current premium
GS_price: global settlement price

scale= 0.5;
get Pdex, Pf, premium, GS_price;

black_swan_protection_price = GS_price*MSSR*1.01

while True:
   
   get Pdex, Pf, premium;
   if 0.5%>premium>-1%: ##just adopt the current median if the absolute premium is low enough.
       feed price = Pf;
   else:
       feed price = Pf*(1+premium*scale);
   feed price = min(feed price, Pdex*MSSR)
   feed price = max(feed price, Pdex, black_swan_protection_price)
 
   time.sleep(120); ##update every 2 minutes.
keep the BSIP42 logic, added GS protection logic, ensure the feed price is higher than market price and lower than market price*MSSR

bitCNY now has a premium of 2%+, if removing BSIP42 logic, the positive feed back effect will make price even lower and bitCNY in a higher premium, that is a disaster that actually can be avoided.

hope big proxy can support this updated BSIP42 as a temporary solution for this special moment.

[pluswave]

magicwallet.witness now use this for CNY:  feed_price = MAX(real_price, gs_protect_price) where gs_protect_price = gs_price * 1.11

[bitcrab]

as currently there is big quantities of margin call orders, gdex-witness feed max(market price*MSSR, black swan protection price) to protect price from being pushed down with the positive feedback effect.

I agree that it's better to feed market price and set MSSR to a value close to 101%, however this need more discussion to reach consensus.

[Bangzi]

Bangzi and winex.witness new BitCNY price feed same as bhuz:

Feeding max(real_price, gs_protection_price)
where gs_protection_price = gs_price * 1.12

[Bhuz]

Feeding max(real_price, gs_protection_price)
where gs_protection_price = gs_price * 1.12

[btspp]

again???
witness want to sell margin call orders at price 0.34 while market price at 0.332,
what's the problem with these witnesses?
please vote out.

Code: [Select]

发布人 清算价
( bitCNY/BTS) 手续费汇率
( bitCNY/BTS) 维持抵押率 强制平仓比例上限 发布时间
roelandp 0.3748 0.4498 1.75 1.1 9秒钟前
crazybit 0.3734 0.4668 1.75 1.1 12秒钟前
elmato 0.3743 0.4492 1.75 1.1 18秒钟前
gdex-witness 0.4238 0.5080 1.75 1.1 48秒钟前
witness.still 0.3757 0.4697 1.75 1.1 2分钟前
abc123 0.3754 0.4693 1.75 1.1 2分钟前
witness.hiblockchain 0.3734 0.4481 1.75 1.1 3分钟前
btspp-witness 0.3733 0.4483 1.75 1.1 3分钟前
openledger-dc 0.3734 0.3972 1.75 1.1 4分钟前
xman 0.3753 0.4634 1.75 1.1 4分钟前
delegate-zhaomu 0.3733 0.4479 1.75 1.1 5分钟前
blckchnd 0.3303 0.3468 1.75 1.1 5分钟前
magicwallet.witness 0.3736 0.4483 1.75 1.1 5分钟前
bangzi 0.3766 0.4707 1.75 1.1 6分钟前
bhuz 0.3716 0.3911 1.75 1.1 10分钟前
in.abit 0.3742 0.4797 1.75 1.1 12分钟前
witness.yao 0.3732 0.4478 1.75 1.1 13分钟前
xn-delegate 0.3737 0.4485 1.75 1.1 21分钟前
sahkan-bitshares 0.3743 0.4491 1.75 1.1 25分钟前
fox 0.3728 0.4474 1.75 1.1 45分钟前
zapata42-witness 0.3726 0.4471 1.75 1.1 1小时前
xeldal 0.3709 0.4451 1.75 1.1 1小时前
delegate.freedom 0.3699 0.4624 1.75 1.1 4小时前


Since BSIP42 is voted out. Then btspp-witness will restore the way before BSIP42, and add the black swan protection price.

[abit]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

I known MSSR is a parameter of feed price, but it's not decide by the witness. witness just execute it.

The committee only executes too. It decides nothing. Voters decide.

[alt]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

I known MSSR is a parameter of feed price, but it's not decide by the witness. witness just execute it.
witness known nothing about the trade.
it's already a difficult task for them to give the real market price.

[abit]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

No adjustment is pretty much instant GS no ?

It's very close to GS, but not yet.

[clockwork]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

No adjustment is pretty much instant GS no ?

[abit]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

MSSR is a price feed parameter which can only be adjusted by witnesses, not the committee.

By the way, the "NO adjust" worker now has more votes than the "adjust" worker, according to the BSIP document, witnesses should not feed adjusted price right now.

[magicwallet-team]

magicwallet-team is modifying the script...Will be finished tomorrow.

Will use this solution: feed price = max(market price, black swan protection price)

again???
witness want to sell margin call orders at price 0.34 while market price at 0.332,
what's the problem with these witnesses?
please vote out.

Code: [Select]

发布人 清算价
( bitCNY/BTS) 手续费汇率
( bitCNY/BTS) 维持抵押率 强制平仓比例上限 发布时间
roelandp 0.3748 0.4498 1.75 1.1 9秒钟前
crazybit 0.3734 0.4668 1.75 1.1 12秒钟前
elmato 0.3743 0.4492 1.75 1.1 18秒钟前
gdex-witness 0.4238 0.5080 1.75 1.1 48秒钟前
witness.still 0.3757 0.4697 1.75 1.1 2分钟前
abc123 0.3754 0.4693 1.75 1.1 2分钟前
witness.hiblockchain 0.3734 0.4481 1.75 1.1 3分钟前
btspp-witness 0.3733 0.4483 1.75 1.1 3分钟前
openledger-dc 0.3734 0.3972 1.75 1.1 4分钟前
xman 0.3753 0.4634 1.75 1.1 4分钟前
delegate-zhaomu 0.3733 0.4479 1.75 1.1 5分钟前
blckchnd 0.3303 0.3468 1.75 1.1 5分钟前
magicwallet.witness 0.3736 0.4483 1.75 1.1 5分钟前
bangzi 0.3766 0.4707 1.75 1.1 6分钟前
bhuz 0.3716 0.3911 1.75 1.1 10分钟前
in.abit 0.3742 0.4797 1.75 1.1 12分钟前
witness.yao 0.3732 0.4478 1.75 1.1 13分钟前
xn-delegate 0.3737 0.4485 1.75 1.1 21分钟前
sahkan-bitshares 0.3743 0.4491 1.75 1.1 25分钟前
fox 0.3728 0.4474 1.75 1.1 45分钟前
zapata42-witness 0.3726 0.4471 1.75 1.1 1小时前
xeldal 0.3709 0.4451 1.75 1.1 1小时前
delegate.freedom 0.3699 0.4624 1.75 1.1 4小时前


[alt]

again???
witness want to sell margin call orders at price 0.34 while market price at 0.332,
what's the problem with these witnesses?
please vote out.

Code: [Select]

发布人 清算价
( bitCNY/BTS) 手续费汇率
( bitCNY/BTS) 维持抵押率 强制平仓比例上限 发布时间
roelandp 0.3748 0.4498 1.75 1.1 9秒钟前
crazybit 0.3734 0.4668 1.75 1.1 12秒钟前
elmato 0.3743 0.4492 1.75 1.1 18秒钟前
gdex-witness 0.4238 0.5080 1.75 1.1 48秒钟前
witness.still 0.3757 0.4697 1.75 1.1 2分钟前
abc123 0.3754 0.4693 1.75 1.1 2分钟前
witness.hiblockchain 0.3734 0.4481 1.75 1.1 3分钟前
btspp-witness 0.3733 0.4483 1.75 1.1 3分钟前
openledger-dc 0.3734 0.3972 1.75 1.1 4分钟前
xman 0.3753 0.4634 1.75 1.1 4分钟前
delegate-zhaomu 0.3733 0.4479 1.75 1.1 5分钟前
blckchnd 0.3303 0.3468 1.75 1.1 5分钟前
magicwallet.witness 0.3736 0.4483 1.75 1.1 5分钟前
bangzi 0.3766 0.4707 1.75 1.1 6分钟前
bhuz 0.3716 0.3911 1.75 1.1 10分钟前
in.abit 0.3742 0.4797 1.75 1.1 12分钟前
witness.yao 0.3732 0.4478 1.75 1.1 13分钟前
xn-delegate 0.3737 0.4485 1.75 1.1 21分钟前
sahkan-bitshares 0.3743 0.4491 1.75 1.1 25分钟前
fox 0.3728 0.4474 1.75 1.1 45分钟前
zapata42-witness 0.3726 0.4471 1.75 1.1 1小时前
xeldal 0.3709 0.4451 1.75 1.1 1小时前
delegate.freedom 0.3699 0.4624 1.75 1.1 4小时前


[Bangzi]

positive feedback appear again.

margin called order eaten -> global settlement price come down-> feed price come down->more debt position margin called.

in several hours the margin called orders quantity changed from 70M+ to 90M+. and bitCNY become in premium again.

will it be better to set feed price = max(market price*MSSR, black swan protection price)?

it's just another UI bug when you saw the quantity changed from 70M to 90M
And we don't need to change feed price to market price * MSSR, instead it should be the commiittee's authority to tune the MSSR from 10% to 1% or something else to reduce the premium,
but still need to give some premium offter others help eatern the margin call orders.

https://github.com/bitshares/bsips/issues/96