Author Topic: 2020-10-06 Old bitCNY parameters adjustment  (Read 357 times)

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Offline abit

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2020-10-06 Old bitCNY parameters adjustment
« on: October 06, 2020, 10:44:04 am »
Purpose:
to restore the peg of bitCNY in the long run and mitigate the issue that some debt positions' collateral is too low.

Changes:
ICR has been increased from 245% to 275%.

Current parameters:

ICR 275%
MCR 175%
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 275% for feed price 0.22 effectively means 175% for market price 0.14, and the corresponding black swan price is 0.08.

Borrowing has been enabled earlier. The maximum supply is limited to 35,000,000 bitCNY.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit