bsips icon indicating copy to clipboard operation
bsips copied to clipboard

Recover mode for debt assets with GS

Open froooze opened this issue 5 years ago • 3 comments

Problem

Actually assets, which are in a global settlement need to have a CR ≥ MCR, to retrieve. From collateral side a CR ≥ 1 is only needed, to fully back the debt asset.

Solution

  1. Lower MCR of a asset to 1.01, when it is in a global settlement.
  2. Lower MSSR to 1.01
  3. When bitAsset is outside of GS, increase the MCR every day by + 2.5% until MCR has the old value
  4. Increase MSSR every day by 0.1% until the old value
  5. Use global settlement protection

Market dynamics

  1. To retrieve a GS the market needs an upwards trend
  2. The price feed gets everyday a bigger margin, when MCR increases
  3. Margin positions can be eaten, when feed price is outside the GS protection

froooze avatar May 20 '19 01:05 froooze

With MCR 1.05, very soon the bitAssets get global settled again.

Anyway, technically witnesses can manipulate price feed to recover any bitAssets but then BSIP is required to get community consensus.

bangzi1001 avatar May 20 '19 01:05 bangzi1001

@bangzi1001:

  1. We need a GS protection at the start
  2. Price feed manipulation prevents margin position exchange

froooze avatar May 21 '19 19:05 froooze

The global CR is which we need to care about.

When the global CR is close to 110%, force settlement the bitasset(to buy the margin), to maintain the global CR to 110%.

This should use to revive the bitBTC and bitGold first, and allow collateral again

shulthz avatar May 22 '19 15:05 shulthz