Golden Outpost｜Compound's new proposal intends to increase the market borrowing limit

On the morning of September 9, Compound Labs officially tweeted that the community has submitted COMP proposal 022, which plans to increase the market lending limit.

At present, the developers have completed the loan limit patch code, and the community needs to determine the rules for setting the proposal. The content-ethexc of the proposal shows that if the proposal is approved, the community committee will control a multi-signature, which will act as the guardian of the borrowing limit.

The Community Council will consist of 6 addresses and 4 required consensuses: 2 controlled by official Compound team members and 4 controlled by the community. The rules developed will instruct community boards on how to specifically set borrowing limits.

Golden Morning News | January 27 Overnight Important Updates: 21:00-7:00 Keywords: Global Encryption Governance Alliance, Dubai, BTG, Local Bitcoin, Belgium

1. The World Economic Forum launches the Global Encryption Governance Alliance.

2. Dubai launches Crypto Valley in a duty-free zone in the business center.

3. BTG recently encountered a 51% attack, and the attacker extracted a total of about 7076 BTG twice.

4. The BTG core development team responded to the double-spending attack: the loss of the exchange was much lower than the reversal transaction amount.

5. Former Trump adviser: The United States has the responsibility to initiate a digital currency plan and lead the digital currency.

6. Tencent Research Institute released the 2020 Chinese New Year Book List, including "Understanding Libra".

7. Bitcoin exchange Local Bitcoin is suspending user accounts.

8. The municipal server of a small Belgian town was hacked and a ransom was demanded in Bitcoin.

9. BTC is now at $8,573, up 2.59% in the past 24 hours, with a market value of $155.383 billion. [2020/1/27]

The specific setting rules are as follows:

Analysis| Golden Disk: Changes in positions of BTC futures contracts: Comprehensive analysis of the golden disk: According to OKEX data, currently 63% of long accounts, 36% of short accounts, 24.7% of long positions, and 21.9% of short positions. The advantage of long accounts has weakened, the average short position is rising, and the market's short-selling energy continues. As of press time, the quarterly BTC0928 contract price is $7,328, the spot price is $7,354, and the discount is $26. Investors are advised to pay attention to risk control. [2018/9/5]

1. For stablecoins USDC and USDT:

Golden Finance News: The price of Bitcoin broke through ¥80,000, a record high. The data comes from the Korean exchange Bithumb. [2017/11/29]

a. 130% of the highest borrowing in the past 14 days;

b. DAI is currently not included due to low transaction volume;

c. If borrowing does not exceed 5% of the limit, the limit will be raised to the new level as soon as possible unless a malicious situation is discovered. the

2. For non-stable coins: ETH, WBTC, ZRX, BAT:

a. 110% of the maximum borrowed amount in the past 14 days, with a minimum limit of $3 million.

b. If borrowing does not exceed 5% of the limit, the limit will be raised to the new level as soon as possible unless a malicious situation is discovered.

Finally, the official reminded that there will be a specific robot setting program to monitor market conditions and give notifications when timely adjustments are required. Additionally, every other week, the borrowing limit will be recalibrated in case a reduction is required.

Additionally, this patch has been publicly discussed and developed, reviewed by community members, and tested on the Kovan testnet. Open Zeppelin has audited the new contract and found no major issues.

Details of the proposal also include reserve tokens. Reduced cSAI reserve to 2800SAI.

Before the press release, the proposal has received 15,421 votes and no objection votes.

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