Monthly Report — September
On September 4th, EOS Authority completes the code auditing of REX Deposit Plan for the PIZZA platform. At the current moment, there are 130,000 EOS in the collateral pool, of which 100,000 are in the form of REX. The PIZZA platform deposits 10% of the overall collateral to the REX system every 5 days. When a user calls a redemption operation, the system preferentially returns the non-REX collateral to the user, and the excess portion will be withdrawn from the REX system. REX is the resource exchange on EOS, it is a way to activate the system collateral with maximum security.
On September 5th, the PIZZA platform reaches a strategic partnership with FIBOS. In the future, the cooperation between the two parties will focus on increasing the universal use case of USDE stablecoin, opening up decentralized financial application scenarios, and cross-chain collateralization, lending, and decentralized exchange. FIBOS Fibonacci is a duo development engine platform with both JS and C++.
September 10：
1、The PIZZA platform updates the official site UI for the first time. The update carries out the tone adjustment and interaction details of the system interface, and provides the infrastructure for the elements in the future.
2、Several core parameters are adjusted:
Liquidation fee: reduced from “8% of liquidated collateral” to “5% of USDE debt owed”.
Minimum initial collateralization ratio: down from “175%” to “150%”.
Liquidation Ratio: down from “150%” to “135%”.
For details, please visit: https://pizza2019.zendesk.com/hc/zh-cn/articles/360035100954-%E7%B3%BB%E7%BB%9F%E6%9B%B4%E6%96%B0
On September 25, the cryptocurrency market encounters extreme volatility, and the EOS price plummeted nearly 40% that day. A total of 12,000 EOS collateral were liquidated, the internal functions of the system worked well in every ways, and the settlement of the liquidated collateral took 5 hours in average, and the average real-time profits of the bidding participants were as high as 12%.
PIZZA — USDE Team
2019.10.05
