Author Topic: New BitAsset CNY16  (Read 5245 times)

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Offline abit

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The committee created a new BitAsset with the symbol "CNY16".

The purpose is to test the functions and parameters of BitAssets.

The asset aims to be pegged to the Chinese yuan (RMB). It has a price feed of 16x the market price and an initial collateral ratio (ICR) of 32, so essentially requires 2x initial collateral. The MCR is 1.003, the MSSR is 1.002, force-settlement is disabled, and no settlement on black swan events.

At present the only price feed provider is "in.abit" (account ID 1.2.35248).

Depending on the level of community participation, additional price feed providers may be added.

In principle, other parameters will not be adjusted.

BTW, the web wallet https://wallet.bitshares.org/ does not yet support borrowing CNY16 due to a limitation in code, please use https://develop.bitshares.org/ .
BitShares committee member: abit
BitShares witness: in.abit