Main > Stakeholder Proposals
[poll] BTS repurchase destruction proposal
fractalnode:
--- Quote from: pc on December 06, 2019, 06:12:38 am ---
--- Quote from: fractalnode on December 05, 2019, 10:37:32 pm --- execute Instant Settle for this amount and send those BTS to reserve pool
in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund
--- End quote ---
Settling at the fake feed price rewards bad debt. Speaking of it, when will you start feeding the true price again?
--- End quote ---
I think it would be good to use this approach when the price returns to normal.
There are several new solutions that will help us fight the negative effects of margin call wall, including:
- bsip73 - Match force-settlement orders best-price
- bsip62 - Close Margin Position
→ Instant Settle from funds collected from trading fees would also help.
Today another idea came to my mind, but I don't know if it is possible
→ Allow users to set non-default MCR and MSSR for their positon as long as they are greater then default values.
it's worth to keep in mind that People use MCR like Stop Loss
that's why I would happily set values other than most people, e.g. MCR 1.69 nobody would know who and when is in the margin call area, or MSSR 1.03 so that a possible margin call would definitely close at market price at first time before most other orders start being fulfilled.
pc:
--- Quote from: fractalnode on December 05, 2019, 10:37:32 pm --- execute Instant Settle for this amount and send those BTS to reserve pool
in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund
--- End quote ---
Settling at the fake feed price rewards bad debt. Speaking of it, when will you start feeding the true price again?
fractalnode:
--- Quote from: abit on December 05, 2019, 08:50:59 pm ---
--- Quote from: fractalnode on December 04, 2019, 10:54:06 am ---
--- Quote from: bench on October 07, 2019, 09:15:14 pm ---
--- Quote from: bitProfessor on June 14, 2019, 08:25:42 am ---6, repurchase BTS and destroy it immediately.
--- End quote ---
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.
--- End quote ---
the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there.
The more bitAssets on the markets outside DEX, the better.
in other words, funds should not be burned or transferred to the reserve pool in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
--- End quote ---
On the other hand, the more bitCNY being on CEX or elsewhere, the less liquidity in the DEX for debt holders to close positions, so it's not a thing with only benefits (aka "the better").
--- End quote ---
it's also true. I have another idea ...
- maybe the funds accumulated from transaction fees could be used in a similar way to this formula.
Instant Settle from funds collected from trading fees
--- Code: ---if ((lowest CR <= MCR) AND (fee pool >= 10 USD)) // → a small amount has mainly psychological effects
calculate the amount betwean ( lowest CR <= MCR && MCR ) and
execute Instant Settle for this amount and send those BTS to reserve pool
--- End code ---
in this way we create a permanent source of partial financing of bad debt, but I also like the idea of additional funding for the WPS fund
abit:
--- Quote from: fractalnode on December 04, 2019, 10:54:06 am ---
--- Quote from: bench on October 07, 2019, 09:15:14 pm ---
--- Quote from: bitProfessor on June 14, 2019, 08:25:42 am ---6, repurchase BTS and destroy it immediately.
--- End quote ---
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.
--- End quote ---
the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there.
The more bitAssets on the markets outside DEX, the better.
in other words, funds should not be burned or transferred to the reserve pool in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
--- End quote ---
On the other hand, the more bitCNY being on CEX or elsewhere, the less liquidity in the DEX for debt holders to close positions, so it's not a thing with only benefits (aka "the better").
fractalnode:
--- Quote from: bench on October 07, 2019, 09:15:14 pm ---
--- Quote from: bitProfessor on June 14, 2019, 08:25:42 am ---6, repurchase BTS and destroy it immediately.
--- End quote ---
Destroy by sending BTS back to the reserve pool. Everything else is destroying funds.
--- End quote ---
the money comes from the reserve pool for the needs of WP, which is why BTS is sold on the market.
It would be better if we pay employees in bitCNY (or bitUSD), and then that these employees exchange these bitCNY for BTC on external exchanges (CEX), so that bitCNY can be traded (circulated) there - if possible.
The more bitAssets on the markets outside DEX, the better.
in other words, IMO funds should not be burned (transferred to the reserve pool) in the form of previously purchased BTS, but should be stored for the same purpose as the reserve pool.
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