diff --git a/0008 b/0008 new file mode 100644 index 0000000..a87dfa9 --- /dev/null +++ b/0008 @@ -0,0 +1,23 @@ +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.