BitShares Forum
Main => General Discussion => Topic started by: bitcrab on June 15, 2019, 01:29:33 pm
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now the market fee sharing feature is ready in core code, although it is not completely ready in GUI, I think it's time to consider the relevant setting for smartcoins.
at the first step, one idea is to set parameters of bitCNY, bitUSD and bitEUR as below:
set the reward percent to 80%
reset the market fee to 0.1%
which means, users pay 0.1% market fee for the smartcoins, however the life time members will get 80% back.
80% of the market fee paid by basic members will be paid to the referer.
I believe this setting will greatly encourage users to become life time members and invite new users.
any thoughts?
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That makes a lot of sense. Then every lifetime member would be paying actually 0.02% market fee, while upgrading to LTM would be already incentive to trade more.
Would be supporting this, personally its beneficial for both blockchain and users/traders and it does gives them a choice/option - which they don't have at most of other trading platforms.
Also, addition to this would be request to the Committee to lower Vesting Withdrawal Fee which is currently 50 BTS.
Chee®s
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+5% +5% +5%
Market fee sharing is good but UI referral system need to imporove:
When lifetime member Mr. Apple bring new user Mr. Banana to Bitshares reference wallet via referral link eg. https://wallet.bitshares.org/?r=apple, the referral program only work if the Mr. Banana register within the session.
If Mr. Banana visit and leave without register but come back next day via direct type in wallet.bitshares.org or Google search, Mr. Apple no longer become Mr. Banana referrer. This strongly demotivate lifetime members to promote Bitshares.
Please comment to improve this on UI:
https://github.com/bitshares/bitshares-ui/issues/2555
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Not support.
Short-sight.
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Not support.
Short-sight.
I guess language barrier. What original author meant was "Yes im short-sighted and i can't read properly what is written here".
Please acquire glasses or lens for your sight issues.
Chee®s
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Don't need a glasses or lens, i think all of you need a glasses or lens in your mind.
Chee®s
Not support.
Short-sight.
I guess language barrier. What original author meant was "Yes im short-sighted and i can't read properly what is written here".
Please acquire glasses or lens for your sight issues.
Chee®s
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Don't need a glasses or lens, i think all of you need a glasses or lens in your mind.
Chee®s
Not support.
Short-sight.
I guess language barrier. What original author meant was "Yes im short-sighted and i can't read properly what is written here".
Please acquire glasses or lens for your sight issues.
Chee®s
Do you have better/more reasonable suggestion to the market fees and referral program to offer, so we can extend our vision that is missing ?
CheeÞs
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I fully support this:
1. This improves the referral system
2. This improves the LTM
3. This should also improve spread for market maker with a 50% discount for trading fees compared to now
On the other side no one can complain about a one way 0.1% market fee, when 0.2% (two way) is the standard fee for trading.
I hope we can get a fast consensus for this!
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This is a funny idea.
“狙公赋芧，曰：'朝三而暮四。'众狙皆怒。曰：'然则朝四而暮三。'众狙皆悦。
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这样做也可以，等快点行动吗？
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How do you think so sure about this?
BTS is smartcoins? smartcoins is BTS?
DEX compare with CEX?
How do you think it is not 0.1% (two way)?
Do you research about BNB/HT/ZB/GT/OKB......? how they work?
On the other side no one can complain about a one way 0.1% market fee, when 0.2% (two way) is the standard fee for trading.
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80% 我个人感觉太多了。
手续费上调回0.1%更是走回头路。
普通交易者的用户体验很重要。
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80% 我个人感觉太多了。
手续费上调回0.1%更是走回头路。
普通交易者的用户体验很重要。
0.1%基本上影响不到普通用户的体验，但对各种套利机器人，大交易者影响很大，而这正可以用终生会员解决。
其实本来我想设100%，但考虑到即便终生会员也需要支付一些费用，80%应该是个比较好的选择。
比较起来把理事会收的交易费用到其它地方的一些方案，我觉得现在用到推广方面最合适。
0.1%+80%意味着终生会员付的交易费比起现在是减半的。
激励用户去邀请新人进来也很重要。太少了很影响效果。
还有一种方案是交易费保持0.04%，只把返佣率设为80%，我觉得也可以接受。
我觉得需要尽快实施，以后觉得不合适了可以再调。
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Not support.
Short-sight.
Agree
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1. 0.1% fee is not too high, when standard trading fee is 0.2%
2. most people don't trade much, they care more about liquidity and spread
3. professional traders get now a 50% discount with a LTM compaired to now
4. the referral system gets a much needed boost
Excluding the LTM from a reasonable bitAsset fee (80%) is a big disadvantage for our referral system compared to Binance or other platforms!
Second option:
Standard fee: 0.05%
LTM fee: 0.01%
Record low of account upgrades:
(https://i.postimg.cc/ppdPw2Wt/acc-upgrade.png) (https://postimg.cc/ppdPw2Wt)
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80% refferal fee is to high in my opinion.
Other places are offering 50%. 60% is already very generous.
Increasing refferal commission from 50-60% to 80% is not important in my opinion.
What is more important is that currently only LTM members are allowed to promote via refferal system.
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.
Also there needs to be funds to promote it on webmaster affiliate pages and an active team which will contact websites which are ranking well on top keywords for our DEX informing them about the refferal system.
Another very important factor is that all UI's which owns their own assets need to declare an amount of their trading commission they are willing to share with the webmaster who reffered the new traders.
0.1% trading fee is imo OK.
I believe this setting will greatly encourage users to become life time members and invite new users.
any thoughts?
You should focus on big webmasters with hugh crypto traffic.
They are the main key factor for a big increase and not a few hundred bitshares community members with some low amount of social media traffic.
Just have a look at the traffic amount a single webmaster (biggest one) brought to Binance.
1886.85733966 BTC commission (50% refferal) of 0.1% trading fee.
This means only his traffic alone made a volume of minimum 3772000 BTC .
I'm pretty sure that this kind of big webmasters are looking for good refferal programs which exchanges are not saturated with his current traffic which means his conversation rate for new members will be very high making bitshares refferal program lucrative for him if the commissions are worth it.
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Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.
What should we change ?
A light referral system for people without a LTM ?
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80% refferal fee is to high in my opinion.
Other places are offering 50%. 60% is already very generous.
Increasing refferal commission from 50-60% to 80% is not important in my opinion.
What is more important is that currently only LTM members are allowed to promote via refferal system.
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.
Also there needs to be funds to promote it on webmaster affiliate pages and an active team which will contact websites which are ranking well on top keywords for our DEX informing them about the refferal system.
Another very important factor is that all UI's which owns their own assets need to declare an amount of their trading commission they are willing to share with the webmaster who reffered the new traders.
0.1% trading fee is imo OK.
I believe this setting will greatly encourage users to become life time members and invite new users.
any thoughts?
You should focus on big webmasters with hugh crypto traffic.
They are the main key factor for a big increase and not a few hundred bitshares community members with some low amount of social media traffic.
Just have a look at the traffic amount a single webmaster (biggest one) brought to Binance.
1886.85733966 BTC commission (50% refferal) of 0.1% trading fee.
This means only his traffic alone made a volume of minimum 3772000 BTC .
I'm pretty sure that this kind of big webmasters are looking for good refferal programs which exchanges are not saturated with his current traffic which means his conversation rate for new members will be very high making bitshares refferal program lucrative for him if the commissions are worth it.
LTM based referral is core code level infrastructure, changing it need change on core code, not easy and need time and I think we now need to work on the current design.
80% is too high? one point is that BTS-DEX is different with CEX, it's OK for DEX to share higher percent market fee, which means also to share the profit to shareholders/contributers. and higher percent will help to incentivize at this stage.
yes it's good idea to work with website with high traffic.
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80% referral bonus is need to close the buying gab for a LTM. If CEX only offer 50%, this is another advantage for DEX.
On the other side the DEX profits, when people buy more LTM, but doesn't loose much in terms of trading fees.
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I don't think 80% is high because it is only for normal members - once they upgrade to LTM (which all serious traders will do once they are trading significant volumes) the referrer won't get anything.
Correct?
This is a bit of a turn off for referrers in my view.
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Correct?
Yes, but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number.
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Correct?
Yes but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number.
Noted - i didn't realise they also get 80% of that fee. Pretty great actually then!
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Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.
Do the marketing such that the community pays the LTM for webmasters. Send serious webmasters to me and I will hook them up. Also has the benefits that we know who they are and we can establish first contact right away.
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LTM based referral is core code level infrastructure, changing it need change on core code, not easy and need time and I think we now need to work on the current design.
Actually, the 80% are a committee parameter that can be changed by committee. In fact, it's the 20% that is a parameter and it is called "network_percent_of_fee".