If I wanted to use the in-built subscription model but just sell it at a different price - I could not do it with your setup.
These are my only options:
- use the existing subscription model priced globally by the committee
- skip the subscription model
- build my own subscription model outside the blockchain
You can, just like today. I can offer up-to 80% off the price of LTM without any cost to me, by giving the 80% I earn from the upgrade back to the user.
OK, that's true.
So maybe ideally we could combine my approach with yours, as the they seem to be quite complementary after all.
I would add this option: for the subscription model, instead of charging $100 and giving back $80, just let the registrar set the price at $20.
And if we had your solution in place, we could enforce the minimum price for LTM at $20 and give it no upper limit.
This way we would have the best features from both solutions:
- if a business was able to sell LTM above $100, it could do so and make more money for itself and the network.
- if a business wanted to sell LTM below $20 or did not want to use subscription at all, it could easily switch to your subscription-less model.
It's quite complex but I think it makes sense.
I want to be sure I'm on the same page.
There is only 1 mode or model. one requirement. You pay the minimum fee. Period.
When using a 3rd party service/wallet, they may elect to require a fee higher then this minimum.
Any such fee paid over the minimum is subject to the rules of the RP (%split according to referrer/registrar values, vesting etc)
A registrar can charge any amount not less then ~20USD for LTM
Network fee on LTM registration is ~20USD or 20% whichever is greater
If the above is what you have in mind. I have a few questions.
If all LTM are exactly the same in function. Why will anyone pay more then $20 for LTM?
I feel like this was discussed before but I don't know the answer. Is there something that requires users to setup a new account for every service? Will I need to buy a LTM at every service, or can my 1 account with LTM status be used everywhere? I suppose there is nothing preventing a service from accepting outside accounts but if they are using the RP or selling LTM they may be incentivized to force new members to create a newly registered account with them as registrar/referrer.
@Xeldal
After rethinking, I've come to the conclusion that your model does not leave any space for in-built subscriptions after all.
Subscriptions require the base fees to be set a bit higher and offer 80% discount if you buy the subscription.
Whereas your model assumes setting the base fees at the lowest possible level, so no 80% discount is possible from this lowest level.
I may not be clear on what you're saying. The idea is, If a transaction is made with only the minimum fee nothing is returned via RP.
If a fee over the minimum is included, 80% of that amount is returned to LTM via RP.
Are you saying- If the LTM subscription fee is 10,000 BTS, that is a minimum fee so nothing would be returned? Is that what your saying? If so 20% of that(the network portion) can be set as the minimum fee and you can pay whatever amount you want, and 80% will be returned.
@Xeldal I agree with the general proposition and something like what you suggested is a good long term solution. Also wouldn't it be easier to someone allow business accounts to charge a fee on the blockchain? Isn't that being done for FBA assets already? If fees can be set on an account-by-account basis in addition to assets that might work even better. I think this is a better approach than adding a fee on the GUI because that may open up more vulnerabilities. At least you can verify fees on the blockchain. That way businesses can more easily earn money charging a %-based fee or 20 cents first and use whatever proceeds to fund a referral program.
That's an interesting idea. Who sets the accounts fee though and can it be changed? If I use you as a registrar and you set the fee on my account, does this fee apply no matter where I go, or where I use the account? Can you later change the fee to something else? I think if the GUI is hacked we have a lot more to worry about then the attacker changing the fees. I hope I've understood you correctly.