Author Topic: Pump100k  (Read 148 times)

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Offline Permie22

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Pump100k
« on: September 01, 2019, 08:28:18 pm »
"Pump100k"

Daily allocate RF funding to a 16of30 multisig controlled by the top 30 proxies

Accumulate bts in the account, at 00:00UTC every 1st of the month, create bitCNY will a call price of 0.1CNY and spend the CNY buying up the ask orderbook such that all bitCNY is spent

If the bts:CNY price and bts:CNY orderbook were constant, 191k bitCNY would be created and the announced&predictable pump would push the price on the DEX 14% higher.

Given that the market will know to expect the Pump100k buy every month, watch traders run up the price at the end of every month to front-run the pump and sell into it. How much higher the price would move up in anticipation of the 00:00 1st of the month buy would increase it's impact

After 1 year of such a WP being in operation there'd be a 36.5Mil bts collateral position with a call price of 0.1.

Theoritcally permmissable?
« Last Edit: September 01, 2019, 09:50:09 pm by Permie22 »

Offline JohnR

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Re: Pump100k
« Reply #1 on: September 01, 2019, 08:31:34 pm »
Considering BTS is supposed to be a permission-less system what's the issue?


Offline Customminer

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Re: Pump100k
« Reply #2 on: September 01, 2019, 11:08:18 pm »
Why focus solely on bitCNY? Why not the norns given the reduction in risk?