where are all the OPEN.STEEM fees going?

Started by kingslanding, July 13, 2016, 03:13:35 AM

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pc

OPEN.STEEM is not a smartcoin, it's a UIA created by OpenLedger. Trading fees on UIAs go to the issuer, i. e. to OpenLedger (who use part of the proceeds to buy back OBITS I believe).
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xeroc


kingslanding

Quote from: xeroc on July 13, 2016, 01:16:02 PM
Quote from: cryptillionaire on July 13, 2016, 01:01:05 PM
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.
smartcoin fees go towards the committee-account and are thus held by all shareholders ..

Is this fee balance of the committee-account shown somewhere?  I looked on the cryptofresh budget stats and the accumulated fees seems always stuck at 17,391 BTS.   I would think the accumulated fees should be way higher.
BTS username/address:   kingslanding9999

xeroc

Quote from: cryptillionaire on July 13, 2016, 01:01:05 PM
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.
smartcoin fees go towards the committee-account and are thus held by all shareholders ..

R2

Quote from: kingslanding on July 13, 2016, 12:16:47 PM
So just to be clear, every transaction whether a UIA or Smartcoin has a network fee going to the bitshares network?  On cryptofresh I see smartcoins such as CNY have 0% market fee.
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.

kingslanding

So just to be clear, every transaction whether a UIA or Smartcoin has a network fee going to the bitshares network?  On cryptofresh I see smartcoins such as CNY have 0% market fee.
BTS username/address:   kingslanding9999

Shentist

Quote from: kingslanding on July 13, 2016, 03:13:35 AM
What's the breakdown of the fees dispersion for something like OPEN.STEEM?  Are the fees going partly to OpenLedger, delegates, and the rest burned?  I can't find any documentation on the percentage breakdowns.

OPEN.STEEM is a UIA= user issued asset so the fees are going to 100% to openledger. on every transaction you pay also the network fee, so this goes to the bitshares network.

kingslanding

What's the breakdown of the fees dispersion for something like OPEN.STEEM?  Are the fees going partly to OpenLedger, delegates, and the rest burned?  I can't find any documentation on the percentage breakdowns.
BTS username/address:   kingslanding9999