If you like this proposal, please vote for my delegate dev0.theoretical which is currently hanging on at #101.
The BTS delegates have what I call feed authority
which means the blockchain enforces margin call and short wall rules based on the median feed value produced by the BTS delegates.
I think anyone should be able to create a market-based UIA and optionally specify a feed authority other than the 101 BTS delegates
This will democratize BitAsset creation -- instead of requiring all ideas for BitAssets to go through the BTS delegates in order to launch, anyone with an idea and access to a data source will be able to create a market-based BitAsset.
To pay the costs of publishing a feed, we should let the asset owner  specify a percentage of asset-denominated fees  to go to feed publishers. Since publishing a feed will produce revenue, feed publishers will be able to sustainably pay their IT costs and transaction fees for publishing without diluting new BTS or touching BTS-denominated transaction fees.
There will probably a "long tail" of experiments and small-scale markets, and a few big winners that end up gaining traction and network effects. All of them will provide value to BTS shareholders since these assets will tie up collateral BTS equal to the market cap times the required leverage ratio (and of course generate transaction fees from feeds and actual transactions as well).
 N.b. the asset owner is not the issuer; new asset quantities are issued in the market by shorting.
 Bid-ask overlap and short interest. Even though this is a BTS-backed market-issued asset, we have to be careful about allowing users to pay tx fees with it. In particular we must go by the actual collateral backing rather than feed price, because an attacker Eve would be able to create a private EVIL asset with herself as the feed issuer, publish an EVIL feed of 1 EVIL = 0.0001 BTS, short e.g. 100 EVIL into existence with a total of 0.03 BTS collateral, and then set the EVIL feed to e.g. 1 EVIL = 1,000,000 BTS. If the blockchain uses the feed as the effective exchange rate for fees, Eve would be able to use 100 EVIL to pay 100,000,000 BTS worth of tx fees, even though the total BTS she invested to get to this point was only one UIA registration fee and a few tx fees. Whereas using the collateral backing for the exchange rate, we know the exchange rate is based on real BTS that actually exist, not a fictional valuation based on a user-initiated black swan.