Show Posts
46
Stakeholder Proposals / Re: [Fee Schedule] Updating Fees - proposal created (2 weeks expiration)
« on: February 08, 2019, 02:35:13 am »
what I care most is the market fee of smartcoins.
In my consideration, there is no possibility to increase the smartcoin market fee to 0.5%, in the future, these market fee will either stay at 0.1% or return to 0.
initially the market fee for all the smartcoins is 0, later for bitCNY and bitUSD the market fee was increased to 0.1%, with the start of the open market operation plan.
smartcoin is different with UIA, the community always suffer insufficiency of the supply, market fee lead to accumulation of the smartcoins on committee-account, if committee cannot put a good use plan on these revenue, maybe it is better to set the market fee to 0 and give traders more profit space.
another point is the incentive to better market depth/trading vitality, for example, GDEX is planning to find some market maker to provide more trading depth, these market maker always request lowest or even 0 market fee, for UIA like GDEX.BTC, GDEX can chose to return the market fee to market maker account, but there is no way to do this for bitCNY, which means market making service for smartcoins trading pair is more expensive.
market fee rate like 0.5% is totally unacceptable, which will drive the traders away.
Code: [Select]
2. Another *core* functionality and major *value proposition* is the
# decentralized exchange (DEX) which is associated with a different set of feed.
# Currently, the fees are flat fees for order creation, cancellation and update,
# and are independent of the amount actually traded. Hence, small volume orders
# pay the same fee as large volume orders. Taking a closer look at any
# competitor reveals that this should certainly chance. Instead of asking for a
# rather high flat fee to compensate the costs of the DEX (storing and matching
# orders), I here propose to reduce the flat fee drastically to an amount that
# mostly to prevents spam and instead set a percentage trading fee for every
# committee-owned asset. The advantages are that the committee (read: DAC) could
# earn more fees from matching orders. Since cancellation of orders results in a
# refund of the creation fee, this should also encourage traders to bring
# liquidity. A disadvantage is that the DAC earns less from trading of assets
# that are not owned by the committee, such as OPEN.BTC, TRADE.MUSE etc. because
# the flat fees are reduced and the percentage market fees go to the
# corresponding issuer. Anyway, this approach should result in more traders
# using the DEX and an increase of liquidity.
#
# What percentage should be used? Since we are using a fixed percentage
# independent of an individuals volume, we should choose a percentage that is
# lower than the highest fee asked for by big exchanges such as Kraken,
# Coinbase, BTC38, etc. Furthermore, regional difference should be
# taken into account eventually. For now I propose a fee of
#
# 0.10%
#
# of the matched volume which is less than most centralized competitors even
# though we offer an increased security over them. This fee may be considered as
# a welcome package and may probably be increased to something close to 0.5% to
# reflect the decentralized and trust-free nature of the DEX.
#In my consideration, there is no possibility to increase the smartcoin market fee to 0.5%, in the future, these market fee will either stay at 0.1% or return to 0.
initially the market fee for all the smartcoins is 0, later for bitCNY and bitUSD the market fee was increased to 0.1%, with the start of the open market operation plan.
smartcoin is different with UIA, the community always suffer insufficiency of the supply, market fee lead to accumulation of the smartcoins on committee-account, if committee cannot put a good use plan on these revenue, maybe it is better to set the market fee to 0 and give traders more profit space.
another point is the incentive to better market depth/trading vitality, for example, GDEX is planning to find some market maker to provide more trading depth, these market maker always request lowest or even 0 market fee, for UIA like GDEX.BTC, GDEX can chose to return the market fee to market maker account, but there is no way to do this for bitCNY, which means market making service for smartcoins trading pair is more expensive.
market fee rate like 0.5% is totally unacceptable, which will drive the traders away.