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[Committee Proposal] Set force_settlement_offset of bitCNY from 2 % to 5%

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binggo:
Proposal 1.10.57536 is created to set force_settlement_offset of bitCNY from 2 % to 5 %.

The proposal will expire in UTC  Mar 3, 2020 16:57.

Committee members, please check and vote!


https://cryptofresh.com/p/1.10.57536

Why we should set force_settlement_offset of bitCNY from 2 % to 5%?

We must all know what is theory of financial repression!

Force settlement=Exchange Rate Manipulation.

1. force_settlement_offset didn't have help for bitasset discount;

When a person finished a force settlement, he will make a market order which is a little higher than the market price, he will not chose to dump in the market directly, this is a very simple trade Logic.

2. A market can't maintain high discount under a normal conditon, the price will fall back into the normal price point by the self-regulation of market, currency arbitrage, these will lock the liquidity of bitasset, force the the discount into a normal level.

3. Force settlement is another form of planned economy.

A lower force_settlement_offset is disrupting the market directly, this is a performance of planned economy.
Most of the fund is taking the advantage of the market loopholes to kill the new and normal users, didn't flow into the normal transaction, this is not healthy.
Big holder of bitasset can destroy the market and debtor easily with a fixed and lower force_settlement_offset.
We can check biteur and bitcny.

4. DAI and USDE can "anchor" healthy without force settlement, all we should think about these.
https://oasis.app/trade/market/WETH/DAI
https://www.pizzadex.io/?pair=usdt2usde

5. 5% offset will maintain until some new mechanism of force settlement is available.
may be:
https://github.com/bitshares/bsips/issues/160
https://github.com/bitshares/bsips/issues/260

6. Why it is 5% not other "parameters", as we have 5% offset for a long time(about 11/01/2017-08/08/2019) , didn't have any big problem.


Related discussion:

https://bitsharestalk.org/index.php?topic=32137.0
https://bitsharestalk.org/index.php?topic=32075.0

https://dpos.club/t/topic/748

See also:

Inflation Index:
https://www.imf.org/external/pubs/ft/spn/2010/spn1003.pdf
<Inflation, Unemployment, and Monetary Policy>  by Robert M. Solow, John B. Taylor, Benjamin M. Friedman
<Inflation, Saving and Growth in Developing Economies> by Anthony Thirlwall
<Financial Deepening in Economic Development> by  Edward S. Shaw
<Money and capital in economic development> by Ronald I.Mckinnon




---------------------------
This is the first step.

Second step will be instead of BAIP 2 with EMA which can track the price more quickly.

https://bitsharestalk.org/index.php?topic=32153.0

Third step may be MPLP.

https://github.com/bitshares/bsips/issues/182
-----------------------------

理事会提案 1.10.57536 已创建, 提案内容:bitcny强清补偿从 2% 提高至 5% .

提案到期时间:UTC时间 2020/03/03 16:57

理事会成员们,请查看并投票。

https://cryptofresh.com/p/1.10.57536


为什么我们应该提高bitcny的强清补偿从2%到5%?

我们都应该清楚什么是金融抑制!

1. 强清补偿对bitasset的折价帮助不大。

当有人完成强清后,他会挂一个市场卖单作maker,挂单价格会略高于市场价,而不是选择直接砸向市场,首先市场承接不会时时满足要求,第二这是一个简单而且基础的市场交易逻辑。

这种贬值在市场常态情况下,会一直存在,属于健康经济的常态通胀,而且这种通胀牵扯的因素相当复杂,单价格论无法支撑,即使供应量下降到100块,这种情况还是会存在,难道也要强清不停?

2. 一个市场在正常条件下是无法持续维持bts的高溢价状态的,价格会自然回落到市场认可的运行区间。

3. 强清其实是另一种形式的计划经济。

过低的强清补偿在直接干预市场的自我运行,属于计划市场调节。
大多数的资金正在利用市场的漏洞绞杀新用户与正常用户,而不是流向正常的市场交易,这本身就不健康。
bitasset大户持有者可以轻松利用固定与低强清补偿摧毁一个市场与抵押群体。
我们可以查看biteur及bitcny。

4. DAI与USDE属于bts的复制者,在没有强清机制的情况下却可以“锚”的很健康,我们都需要思考一下。

https://oasis.app/trade/market/WETH/DAI
https://www.pizzadex.io/?pair=usdt2usde

5,5%的强清补偿将会保持到新的强清机制生效。
https://github.com/bitshares/bsips/issues/160
https://github.com/bitshares/bsips/issues/260

6. 为什么参数是5%而不是其它参数,因为我们已经使用 5%的强清补偿已经有了相当长的时间,牛小牛大熊小熊好几次(about 11/01/2017-08/08/2019),并没有出现过大的问题(BSIP42除外)。

相关讨论

https://bitsharestalk.org/index.php?topic=32137.0
https://bitsharestalk.org/index.php?topic=32075.0

https://dpos.club/t/topic/748


---------------------------
这是第一步
第二步将使用跟踪价格更快的EMA来代替BAIP 2.

https://bitsharestalk.org/index.php?topic=32153.0

第三步可能是MPLP或者其它替代方案。

https://github.com/bitshares/bsips/issues/182


---------------------------

相关链接:
反思宏观经济政策:https://www.imf.org/external/pubs/ft/spn/2010/spn1003.pdf
<通货膨胀、失业和货币政策>  by Robert M. Solow, John B. Taylor, Benjamin M. Friedman
<发展中经济体的通货膨胀、储蓄和增长> by Anthony Thirlwall
<经济发展中的金融深化> by  Edward S. Shaw
<经济发展中的货币与资本> by Ronald I.Mckinnon

bench:
Just accept the fact, people are not interested to hold a broken mpa.

You could also use your BTS to provide a real mpa, like HONEST.Assets.

bitcrab:
This proposal is ridiculous.

every trader is clear that force settlement is the power to keep BTS/bitCNY price close to force settlement price, increasing force settlement offset will definitely lead to higher bitCNY discount. and will give no help to the market.

after implementation of BAIP2, force settlement is playing an important role in BTS liquidation offering. and it create a lot of trading chance for both bitCNY holders and debt position owners.

to avoid making things worse, I hope every committee member follow his own logic and judgment, not to support this proposal.

abit:
IMO in order to update a parameter of a bitasset, a BAIP is needed.

binggo:

--- Quote from: bench on February 27, 2020, 02:56:55 pm ---Just accept the fact, people are not interested to hold a broken mpa.

You could also use your BTS to provide a real mpa, like HONEST.Assets.

--- End quote ---


The broken MPA still have the largest user-base and the maximum trad volume in BTS DEX,so this is the fact.

"I don't like your MPA, so i will creat new one HONEST.Assets, peopel will like it as it is HONEST."
So, this is the biggest problem of BTS  for so long,"i don't like it, so i will creat new one : HONEST.Assets,  HONEST2.Assets,  HONEST3.Assets,  HONEST4.Assets, TCNY....."

I don' t think the design of bitasset is successful, we have lost many bitassets in this design, no one want to solve the essential problems,just want to creat new one and think it will be better or just wait for something happend and see what is happening.

So you may know what i say.

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