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Main => Technical Support => Topic started by: kingslanding on July 13, 2016, 03:13:35 am

Title: where are all the OPEN.STEEM fees going?
Post by: 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.

Title: Re: where are all the OPEN.STEEM fees going?
Post by: Shentist on July 13, 2016, 05:28:39 am

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.

Title: Re: where are all the OPEN.STEEM fees going?
Post by: 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.

Title: Re: where are all the OPEN.STEEM fees going?
Post by: cryptillionaire on July 13, 2016, 01:01:05 pm

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.

Title: Re: where are all the OPEN.STEEM fees going?
Post by: 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 ..

Title: Re: where are all the OPEN.STEEM fees going?
Post by: kingslanding on October 28, 2016, 04:37:10 am

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.

Title: Re: where are all the OPEN.STEEM fees going?
Post by: xeroc on October 28, 2016, 07:46:58 am

It is the account "committee-account"
http://cryptofresh.com/u/committee-account

Title: Re: where are all the OPEN.STEEM fees going?
Post by: pc on October 28, 2016, 04:10:11 pm

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).