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General Discussion / Re: Would you support 2% dilution to BitAsset Yield for a 6 month limited trial?
« on: March 22, 2016, 02:20:33 am »Work in progress...
I looked at the BSIP outline https://github.com/bitshares/bsips/blob/master/bsip-0001.md
Here is some stuff I have written for one, if anyone wants to turn it into a proper BSIP or suggest changes or create their own variation cool. My main goal is that BTS trials using some of the worker budget for SmartCoin yield in one form or another.
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BitUSD Yield Promotion BSIP
100 000 BTS per day, 23% of BTS Worker Budget, for 6 months directed to a BitUSD yield promotion. (75% to going to BitUSD Yield and 25% going to BitUSD shorts)
Lower BitUSD forced settlement to 0.95
good cut at this experiment. i'd recommend flipping the split and making it 75% to shorts and 25% to yield on holding the asset. from my experience, those who borrow our smartcoins into existence are the real heroes. they're tying up a ton of collateral and our markets wouldn't exist without them. those who buy and hold the assets still do some good, but incentivizing buy-and-hold over shorting would likely reduce market liquidity by drying up the order book.
also, diverting 20% of worker funds for just bitUSD seems excessive. what happens if it is a success? we have no slack to start subsidizing other markets without changing the rules of the game for new investors/traders who bought in with those lavish conditions. personally, i think 20% of worker fund diversion for overall systemic trading support is great, but that'd include all subsidies to all smartcoins, not just one test case. we have to consider the impact of reducing dev/worker budget on our long term system health. personally, i'd start with something like 5%.