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RE: Question about CNY

in BitShares4 years ago

Just my personal opinion here, but I would avoid bitCNY, bitUSD and bitBTC like the plague. Those 3 market pegged assets (mpa's) are no longer pegged, at all. Not even close. It seems a couple of guys found a flaw in the code that allows them to use the custodial voting mechanism to game the system and get more voting power to protect their bad debt positions with those coins. Pardon me if I worded that incorrectly. Custodial voting will probably be removed in the next core update, but use or hold those mpa's at your own risk.

The good news is that other mpa's have popped up on the Bitshares Dex which have honest pricefeed producers, so if you have time, check out HONEST.CNY, HONEST.USD, HONEST.XAU, HONEST.EUR, etc. :)

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Thanks so much for this. It is unfortunate to hear the bitAsssets aren't working as hoped in the whitepaper.

Alright I see HonestAssets are MPA but not owned by the Committee. Can you point me to some info on these?

try this telegram group:
https://t.me/onestcommunity