Well, I personally like the FRR (I'm lazy...), it was already changed from its previous iteration and surely can be tweaked even more. I wonder which factors to still use other than the current swaps in use to make it react even faster? Weighted average of the fixed price swaps of just the last 24h? 1h? 12h?
After all, the FRR was already "accelerated" significantly after traders complained that the old calculation (which was something like the last 13 days of FRR + current swap rates or so) went down too slow after a spike in demand, making their positions expensive. Since positions now can be comfortably swap their swaps, maybe a move in the opposite direction could be better? Make FRR react slower again?
I wouldn't mind that much if it were going away, then I'd have to invest a day or so to audit, customize + deploy a bot and that's it.
Yes, that is what I don't understand, why don't more people just write a bot? It is very simple to do, and it can ensure that your funds are always being used. There are many people who would simply take whatever the best rate requested, because anything > nothing. I'm thinking of writing a bot just to see how well it would work, and what sort of return I could get compared to using the FRR. I personally agree with you though, and I have always been fine with just using the FRR, and I feel like this discussion has been railroaded by people who want to fundamentally change the products we offer. There has even been suggestions to shut down the entire swap market, let bitfinex pick a rate, and then all funds receive the weighted average of the returns or something. I appreciate the effort some put in, but that is in no way going to happen. So, I appreciate your perspective, and the fact that you have seen the evolution of the FRR over time, and understand its purpose. Hopefully, the latest tweak will make it more useful.