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0008 #35

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23 changes: 23 additions & 0 deletions 0008
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BAIP: 0008 Title: Reduce of price threshold by 30% for bitcny Authors: b-dex Status: Accepted Type: Consensus Created: 2020-06-20


Abstract

The purpose of this proposal is to get bitcny full pegg back and make bitshares dex back attractive to traders


Specification

Bitcny and Bitusd has been put a price feed threshold to stop the negative effects of price manipulations on CEX.
Since then volume and interrest on trading on these both bitassets have sunk dramaticly.
To get back interest for the bitcny there is an opportunity to get the pegg back by reducing the threshold by 30%.
Currently all debtors who are shorting bitcny have a CR of 2.6 or higher.
This means reducing the threshold by 30% their CR will fall to 1.8.
There will be no margin calls and noone is going to lose a single BTS.
This way bitcny gets back its full value and the market gets attractive again to be used for trading.
BitUSD has currently not the opportunity because their CR is way lower than at bitcny debtors.


Operation
3 days after getting the BAIP proposal approved all witnesses change at 10 pm UCT time the price feed threshold for bitcny from
0.22 bitcny/bts to 0.154 bitcny/bts.