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bitshares / bsips

BitShares Improvement Proposals and Protocols. These technical documents describe the process of updating and improving the BitShares blockchain and technical ecosystem.
https://bitshares.github.io
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Recover mode for debt assets with GS #171

Open froooze opened 5 years ago

froooze commented 5 years ago

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
bangzi1001 commented 5 years ago

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.

froooze commented 5 years ago

@bangzi1001:

  1. We need a GS protection at the start
  2. Price feed manipulation prevents margin position exchange
shulthz commented 5 years ago

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