Author Topic: [Poll]Restart Open Market Operation  (Read 975 times)

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Offline bitcrab

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[Poll]Restart Open Market Operation
« on: February 17, 2019, 08:30:37 am »
In the past 10 months, open market operation fund lost much in the big bear market. A simple summary can be found here:

However, I believe that the market fee income should be used in supporting the smartcoin ecosystem. What we learned in the past 10 months will help us to optimize the policy in the future.

So I now suggest to restart the Open Market Operation with updated rules:

1.Open Market Operation Fund will not get BTS through worker proposal, it will only get the market fee of smartcoins as fund source.
2.Smartcoin borrowing will not be allowed.
3.BTS buying orders can be placed only when there is margin called orders stayed.
4.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.

the operation will still cover bitCNY and bitUSD, as bitUSD is in global settlement status, operation on bitUSD will start after bitUSD revive.

bitCNY operation account: committee-cnytrader
bitUSD operation account: committee-usdoperator

As ebit and witness.still are voted out of committee, the active key of committee-cnytrader will be changed to a 2/3 multisig of bitcrab, jademont and abit.

2 poll worker proposals have been created for this plan:

1.14.166 Poll - Restart Open Market Operation
1.14.167 Poll - Do Not Restart Open Market Operation

please vote according to your opinion.

« Last Edit: February 17, 2019, 09:08:46 am by bitcrab »