BitShares Forum

Main => Technical Support => Topic started by: monsterer on October 24, 2015, 11:00:08 pm

Title: UIA market_fee_percent appears to do nothing
Post by: monsterer on October 24, 2015, 11:00:08 pm

Trying to work out why trading a UIA with market_fee_percent set to 30 (0.3%) doesn't actually deduct any fees?

Code: [Select]

get_asset METAFEES
{
  "id": "1.3.472",
  "symbol": "METAFEES",
  "precision": 6,
  "issuer": "1.2.32469",
  "options": {
    "max_supply": "100000000000000",
    "market_fee_percent": 30,
    "max_market_fee": "1000000000000000",
    "issuer_permissions": 79,
    "flags": 128,
    "core_exchange_rate": {
      "base": {
        "amount": 1,
        "asset_id": "1.3.0"
      },
      "quote": {
        "amount": 1000000,
        "asset_id": "1.3.472"
      }
    },
    "whitelist_authorities": [],
    "blacklist_authorities": [],
    "whitelist_markets": [],
    "blacklist_markets": [],
    "description": "",
    "extensions": []
  },
  "dynamic_asset_data_id": "2.3.472"
}

issuer_permissions has bit 1 set to deduct fees and the percentage is set correctly, but when traded no fees are actually deducted from either party?

Code: [Select]

get_object 2.3.472
[{
    "id": "2.3.472",
    "current_supply": 1100000,
    "confidential_supply": 0,
    "accumulated_fees": 0,
    "fee_pool": 120000
  }
]


Title: Re: UIA market_fee_percent appears to do nothing
Post by: monsterer on October 31, 2015, 02:12:28 pm

Any insight into why this might be?

* METAFEES has 0.3% trade fee
* Listed on the DEX
* 800 units sold
* 0 collected fees

Code: [Select]

get_object "2.3.472"
[{
    "id": "2.3.472",
    "current_supply": "7005049052",
    "confidential_supply": 0,
    "accumulated_fees": 0,
    "fee_pool": 120000
  }
]


Title: Re: UIA market_fee_percent appears to do nothing
Post by: sittingduck on October 31, 2015, 09:20:08 pm

You have to enable the flag too. 

Title: Re: UIA market_fee_percent appears to do nothing
Post by: svk on November 01, 2015, 07:13:21 pm

Quote from: monsterer on October 31, 2015, 02:12:28 pm

Any insight into why this might be?

* METAFEES has 0.3% trade fee
* Listed on the DEX
* 800 units sold
* 0 collected fees

Code: [Select]

get_object "2.3.472"
[{
    "id": "2.3.472",
    "current_supply": "7005049052",
    "confidential_supply": 0,
    "accumulated_fees": 0,
    "fee_pool": 120000
  }
]


Your core_exchange_rate is incorrectly set, maybe it's related to that?

Your current rate is 0.0625 BTS/METAFEES = 16 METAFEES/BTS. It should rather be something around 0.00064516 METAFEES/BTS = 1550 BTS/METAFEES.

I've added this to the GUI this weekend so it'll soon be a lot easier to adjust this parameter.

Title: Re: UIA market_fee_percent appears to do nothing
Post by: monsterer on November 01, 2015, 07:43:09 pm

Quote from: svk on November 01, 2015, 07:13:21 pm

Your core_exchange_rate is incorrectly set, maybe it's related to that?

Your current rate is 0.0625 BTS/METAFEES = 16 METAFEES/BTS. It should rather be something around 0.00064516 METAFEES/BTS = 1550 BTS/METAFEES.

I've added this to the GUI this weekend so it'll soon be a lot easier to adjust this parameter.

I used the gui in the lite wallet as a guide - when you own METAFEES it gives an equivalent value in BTS but it appears to be inverted, which is why I counter adjusted the rate incorrectly.

Title: Re: UIA market_fee_percent appears to do nothing
Post by: svk on November 01, 2015, 09:14:20 pm

Quote from: monsterer on November 01, 2015, 07:43:09 pm

Quote from: svk on November 01, 2015, 07:13:21 pm

Your core_exchange_rate is incorrectly set, maybe it's related to that?

Your current rate is 0.0625 BTS/METAFEES = 16 METAFEES/BTS. It should rather be something around 0.00064516 METAFEES/BTS = 1550 BTS/METAFEES.

I've added this to the GUI this weekend so it'll soon be a lot easier to adjust this parameter.

I used the gui in the lite wallet as a guide - when you own METAFEES it gives an equivalent value in BTS but it appears to be inverted, which is why I counter adjusted the rate incorrectly.

Yea that stuff gets mindbending quite quickly ;)

In the next gui version you can adjust base and quote amounts and get a live preview of the price that gives.