Author Topic: ANN: HONEST Market Pegged Assets  (Read 10238 times)

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Offline bench

Summarizing the most important parameters update for HONEST.USD and HONEST.BTC Smart Assets, to increase the profitability and sustainability for these participants.

Increasing profitability for market makers:
-  0.1% Market Fee replaced by
0% Maker Fee & 0.2% Taker Fee

Increasing profitability for price feeders:
- Margin Call Fee: 0% → 0.5%

Increasing protection for HONEST.Asset borrower:
- MCR: 160% → 150%
- Initial Collateral: 150% → 165%
- MSSR: 25% → 13%
- Settlement Delay: 1 h → 4 h
- Settlement Offset: 2% → 1.5%
- Settlement Fee: 0% → 1.5%
- Max. Settlement Volume: 100% → 0.5%
- Black Swan Respond Method: Global Settlement → Individual Settlement to fund ( implemented after hard fork of new BitShares 6.0 core upgrade)

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https://t.me/onestcommunity
« Last Edit: December 01, 2021, 01:50:22 am by bench »
Be part of the change and vote for the bitshares-vision proxy!

Offline binggo

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Good move, and i think you should set a MCFR.

Offline bench

The MSSR on all HONEST.Assets gets reduced from 1.25 to 1.13.

Reducing the MSSR, gives almost 50% more space against future GS.
Be part of the change and vote for the bitshares-vision proxy!

Offline bench

Recent HONEST-Updates:

- 5 independent price feeder
- MCR = 150, instead of 160
Be part of the change and vote for the bitshares-vision proxy!

Offline bitcrab

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GDEX has whitelisted all HONEST MPAs.
Email:bitcrab@qq.com

Offline litepresence

The GDEX.BTC/HONEST.BTC market is currently not functional thanks to the new whitelisting rules

unfortunate, we've been supporting GDEX.BTC via sceletus ops since the beginning







we will shift our sceletus ops to RUDEX.BTC

Offline litepresence

RUDEX has whitelisted all HONEST MPA's

thanks Dima


Offline chigbolu

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The GDEX.BTC/HONEST.BTC market is currently not functional thanks to the new whitelisting rules

Offline litepresence

From the poll result it should be 1%

There were 81% voting for change.
When you consider the weighted average its 1.46 (assuming >3 means 4).   
When you consider weighted average of the super majority voting other than zero; its 1.81
If you consider those who voted > 3 as potentially seeking more than 4:  Then 2 is quite plausibly the weighted sentiment.

It was a non anon poll as we certainly consider weight of opinion; so there is also that.

Also, considered heavily was technical analysis of daily candles in python simulation for Average True Range Percent (ATRP)(ATR%).   You can plot BTSUSD binance ATR at tradingview and ATRP if you have an account there.
https://www.tradingview.com/symbols/BTSUSD/?exchange=BINANCE

https://www.investopedia.com/terms/a/atr.asp
https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/atrp

The aim is to achieve desired effects of allowing the red shorter to avoid the blue force settler in pursuit of the "ten day trending outlook" at green.  Admittedly, no matter how you spin it, there is a degree of shoot from the hip in any arrangement involving fine tuning of an MPA's parameters.   2% seems like a solid compromise after a few days of reviewing relevant data.

You'll note I initially voted 0% in the poll myself. I have been swayed both through other's rhetoric, thoughtful consideration of data, and ongoing contemplation of game theory. 

« Last Edit: May 12, 2020, 04:10:04 pm by litepresence »

Offline chigbolu

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In consultation with the HONEST MPA development group, we've made changes to asset options to discourage use of Forced Settlement for trivial gains.   This change should allow borrowers the opportunity to take a debt position, sell short, and be briefly in the red without risk.
 

MPA ADMIN ASSET OPTIONS UPDATE

on all HONEST MPA's

FSO (offset) is 2%
FSD (delay) is 60 minutes


Theory:

Borrower seeks to issue HONEST MPA to himself at RED and sell short with intent to buy back at GREEN.   Even though the borrower is correct to short the market in the long run; there is a brief moment of loss at BLUE where he can be attacked by Force Settlement mechanics.   2% FSO should protect the nascent call position from this market exploit, allowing for the borrower to correctly bet against the market in the long run; thereby increasing monetary supply.


Prior to this change FSO was 0%.  FSD was 60 minutes for most of the HONEST MPA's; a few were set to 240.  All FSD's have now been updated to 60. 

While we are generally very hesitant to make changes to asset mechanics; preferring monetary policy stability wherever possible:  There has been ongoing community call to make this change, with poll sentiment of over 80% calling for FSO>0.   

Poll results from telegram groups:



From the poll result it should be 1%

Offline litepresence

In consultation with the HONEST MPA development group, we've made changes to asset options to discourage use of Forced Settlement for trivial gains.   This change should allow borrowers the opportunity to take a debt position, sell short, and be briefly in the red without risk.
 

MPA ADMIN ASSET OPTIONS UPDATE

on all HONEST MPA's

FSO (offset) is 2%
FSD (delay) is 60 minutes


Theory:

Borrower seeks to issue HONEST MPA to himself at RED and sell short with intent to buy back at GREEN.   Even though the borrower is correct to short the market in the long run; there is a brief moment of loss at BLUE where he can be attacked by Force Settlement mechanics.   2% FSO should protect the nascent call position from this market exploit, allowing for the borrower to correctly bet against the market in the long run; thereby increasing monetary supply.


Prior to this change FSO was 0%.  FSD was 60 minutes for most of the HONEST MPA's; a few were inadvertently set to 240.  All FSD's have now been updated to 60 minutes. 

While we are generally very hesitant to make changes to asset mechanics; preferring monetary policy stability wherever possible:  There has been ongoing community call to make this change, with poll sentiment of over 80% calling for FSO>0.   

Poll results from telegram groups:



« Last Edit: May 12, 2020, 04:08:16 pm by litepresence »

Offline chigbolu

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@litepresence
I suggest the smart coins should be added to the market maker contest even if it's one pair, this may help with liquidity and incentivize people to consider holding the Honest asset.... As currently liquidity and awareness is still poor... 🤔🙄

Offline R

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@litepresence

Why you not to make a proposal for bitUSD and unlock the feed price of bitUSD?I think this proposal will get lots of voting.

or chose a team from committees and wittness to manage bitUSD who you or the holder of bitUSD think is suitable, what do yo think? :)
Honest assets were created in response to bitassets becoming fully fraudulent. You're delusional if you think anyone's going to spend any time on repeatedly proven scam coins.

Offline binggo

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@litepresence

Why you not to make a proposal for bitUSD and unlock the feed price of bitUSD?I think this proposal will get lots of voting.

or chose a team from committees and wittness to manage bitUSD who you or the holder of bitUSD think is suitable, what do yo think? :)

Offline binggo

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“以管窥天,以蠡测海,以莛撞钟,岂能通其条贯,考其文理,发其音声哉。"

You are too young, too native.
« Last Edit: March 14, 2020, 07:35:58 pm by binggo »