Genshiro’s Important Developments
Dear community,
As you may already know we had a very development-reach month of February where we introduced a lot of new features and fixes into Genshiro blockchain which we described in this medium post on February recap.
We plan to deploy these updates to Genshiro production on 9 March 2022 12:00 UTC. There are some important implications to be aware of:
- We will increase margin requirements in preparation for our DEX launch: we want to start the exchange in a safe mode to curb overexposure and limit the maximum possible leverage because of recent elevated market volatility. New parameters will be following:
Implications:
- lower leverage when borrowing (x5 maximum vs x20 before)
- higher penalty when liquidated (5% vs 0.5%)\
NB! to avoid unnecessary liquidations please top up your borrower positions to new margin requirements!
2. We will increase the existential deposit from 1 USD to 10 USD: If your account balance is less than 10 USD in value it will be removed from the system and all the balances will be transferred to the bailsman pool.
3. We will increase transaction fees significantly: due to the bug with the fee slow adjusting mechanism fees inside Genshiro blockchain were suppressed significantly, now these fees will be much higher, here are approximate numbers based on our internal tests and current market price of GENS:
