Author Topic: 2021-02-22 bitCNY parameters adjustment  (Read 316 times)

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Offline abit

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2021-02-22 bitCNY parameters adjustment
« on: February 22, 2021, 02:23:27 pm »
Purpose:
to improve market liquidity.

Changes:
ICR (Initial collateral ratio) adjusted from 210% to 240%
Maximum supply adjusted from 21,000,000 bitCNY to 25,000,000 bitCNY
Added  zapata42-witness and hiquanta to price feed producers

Current parameters:

ICR (Initial collateral ratio) 240%
MCR (Maintenance collateral ratio) 160%
MSSR (Maximum short-squeeze ratio) 105%
MCFR (Margin call fee rate) 3%
FSFP (Force settlement fee percent) 3%
FSO (Force settlement price offset) 2%
Force settlement delay 24 hour
Maximum force settlement volume per hour 0.5%
Price feed threshold 0.12 CNY/BTS (temporary)
Minimum feeds 1 (temporary)
Price feed producers list:
1.2.183     hiquanta
1.2.35248   in.abit
1.2.420186  clone (yexiao)
1.2.987999  zapata42-witness
1.2.1031601 btspp-witness

Borrowing is enabled. The maximum supply is limited to 25,000,000 bitCNY.
Force-settlement is disabled.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline fractalnode

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Re: 2021-02-22 bitCNY parameters adjustment
« Reply #1 on: February 23, 2021, 12:53:19 am »
the sudden changes you make are more dangerous for users than the market itself that these users are watching. Next time I ask you to announce the changes in advance (at least 24 hours) on the telegram, pinning the appropriate message and announcing it to all users.

Offline abit

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Re: 2021-02-22 bitCNY parameters adjustment
« Reply #2 on: February 23, 2021, 02:13:07 am »
the sudden changes you make are more dangerous for users than the market itself that these users are watching. Next time I ask you to announce the changes in advance (at least 24 hours) on the telegram, pinning the appropriate message and announcing it to all users.
All participants are equal.
Since not all participants are on Telegram, on-chain operations are the best source for new info.
Changes without announcement in advance are fair to all participants.
There was no insider deals, and there will be no insider deals.
The world is changing quickly, please always be prepared.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit