Author Topic: 2020-10-03 Old bitCNY parameters adjustment  (Read 88 times)

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Offline abit

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2020-10-03 Old bitCNY parameters adjustment
« on: October 03, 2020, 08:58:21 am »
2020-10-03 Old bitCNY parameters adjustment

Purpose:
to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral is too low.

Changes:
MCR has been increased from 160.8% to 162.0%.
UPDATE: MCR increased to 163%
UPDATE: MCR increased to 165%

Current parameters:

ICR 245%
MCR 165.0%
MSSR 150%
MCFR (Margin call fee rate) 5%
FSO (Force settlement price offset) 2%
FSFP (Force settlement fee percent) 1%

The median feed price is 0.22 CNY/BTS.
Note: the ICR value 245% for feed price 0.22 effectively means 167% if the market price is 0.15.

Borrowing has been enabled earlier. The maximum supply is limited to 35,000,000 bitCNY.
« Last Edit: October 03, 2020, 09:43:55 am by abit »
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