BitShares Committee

[Update] April-May Summary

Hello everyone,

The following is an update regarding committee actions over the last month and a half or so.

As far as the market operations budget is concerned, the accounting is as follows:

Funding:
2,000,000 BTS from committee reserves.
5,618,000 BTS from the “committee controlled open market operation fund” worker.
67,700 bitUSD from the bitUSD market fees.
1,314,000 bitCNY from the bitCNY market fees.

The bitUSD operations account has received the 67,700 bitUSD from market fees + 1,890,000 BTS.
The bitCNY operations account has received the 1,314,000 bitCNY from market fees + 5,780,000 BTS.

Both operations accounts are providing added bitAsset liquidity with their CR carefully kept around the 3.5 - 4 mark.
Specifically, bitUSD operation has added an extra 234,000 bitUSD to the market (approx. 1.5% of the total bitUSD supply).
Similarly, bitCNY operation has added an extra 4,890,000 bitCNY to the market (approx. 1.8% of the total bitCNY supply).

At first glance, the operations appear to have had a positive effect on the market with added liquidity (combined with the efforts of the market-making DEXbot users) as well as an increase in daily volumes.

A more thorough review will be made available once some more time passes since one month is not a large enough sample.

In other news, the first Graphene DevCon was successfully concluded in Shanghai over the last weekend. Committee member jademont has published a relevant article.