[POLL] Possible committee actions to help with liquidity

Started by puppies, January 02, 2016, 08:20:25 PM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

xeroc

Quote from: abit on January 04, 2016, 05:20:14 PM
Thanks for the efforts.
"Review begins in 14 days" Can it be earlier?
Sure .. but only with a new proposal. I think we should take the 2 weeks and figure out what to do with the funds and not rush into something .. This would also allow me to properly code a script and test it until the funds are release (or not)

Maybe you can enlighten me about a detail: Is the review period right before the expiration of a proposal or is the review period first and no one can vote within that period?

abit

Quote from: xeroc on January 04, 2016, 05:15:15 PM
Here we go. Now you need to convince the committee to approve
https://bitsharestalk.org/index.php/topic,20880.new.html#new
Thanks for the efforts.
"Review begins in 14 days" Can it be earlier?
BitShares committee member: abit
BitShares witness: in.abit

xeroc


xeroc

Quote from: puppies on January 04, 2016, 04:30:42 PM
Quote from: xeroc on January 04, 2016, 04:24:02 PM
Wanted to improve my library for market actions anyway :)
Extending it for proposed transaction should be doable as well ..

Worst case scenario I could probably construct it manually.  Thanks to your docs. 

Should just be create a builder, add a market order, add fees, publish.  Right? 
Right

Quote
What I am unsure of is the operation to withdraw the collected funds from the fee pool.
It took me a while .. but the operation is called

  asset_claim_fees_operation

and looks like this

get_prototype_operation asset_claim_fees_operation
[
  43,{
    "fee": {
      "amount": 0,
      "asset_id": "1.3.0"
    },
    "issuer": "1.2.0",
    "amount_to_claim": {
      "amount": 0,
      "asset_id": "1.3.0"
    },
    "extensions": []
  }
]



I will write a script that proposes to claim all available accumulated funds into the committee account and publish it later

puppies

Quote from: xeroc on January 04, 2016, 04:24:02 PM
Wanted to improve my library for market actions anyway :)
Extending it for proposed transaction should be doable as well ..

Worst case scenario I could probably construct it manually.  Thanks to your docs. 

Should just be create a builder, add a market order, add fees, publish.  Right? 

What I am unsure of is the operation to withdraw the collected funds from the fee pool.
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

xeroc

Wanted to improve my library for market actions anyway :)
Extending it for proposed transaction should be doable as well ..

puppies

So.  the consensus seems to be option 1.  Starting at 15% over feed and reducing daily until all funds are gone.  I would also suggest a hard lower limit of 105%

As Xeroc mentioned the difficulty with that is that the committee account cannot place orders in real time.  We need to submit a proposal, and have it approved by the majority of the committee.  We are a very diverse set of people from around the globe, and coordinating that could be difficult.

I still think leaving these funds in the hands of the committee is the best option if we can pull it off.  If we set the proposal for somewhere between a 2 and 4 hour window everyday, we should be able to find a time where all committee members can log in and approve.

Does anyone else think I should reset the results of the poll?  Enough people in this thread have stated that they voted for the wrong thing in the poll.
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

abit

Quote from: tonyk on January 04, 2016, 03:23:15 PM
Quote from: xeroc on January 04, 2016, 03:16:17 PM
Quote from: tonyk on January 04, 2016, 03:04:43 PM
Quote from: xeroc on January 04, 2016, 02:57:28 PM
Funds can of course also be split up :)

A short 15 min script can also be written.

I wonder who could possibly have the skills to do it????  ;)

Sure .. But for whom? The committe members? or a single trusted entity?
I think the core (proposed transactions functionality) can used and reused in a lot of cases.
So something for anyone. The user inputs her credentials/keys for her multi-sig account(s) and each day when running the script all existing proposals pop up for approval/rejection. and there is one more option - add new proposed tx.

PS
And for this particular case I do not know... let the committee decide. If it is too much work to do it themselves each day... they can send the funds to trusted party(s) even mid process...using the same tool even.
A to-do list pops up every time when open the GUI? News, announcements & notices and some user-defined subscriptions? Sounds interesting.

//Edit: what if one never open the GUI?
BitShares committee member: abit
BitShares witness: in.abit

tonyk

Quote from: xeroc on January 04, 2016, 03:16:17 PM
Quote from: tonyk on January 04, 2016, 03:04:43 PM
Quote from: xeroc on January 04, 2016, 02:57:28 PM
Funds can of course also be split up :)

A short 15 min script can also be written.

I wonder who could possibly have the skills to do it????  ;)

Sure .. But for whom? The committe members? or a single trusted entity?
I think the core (proposed transactions functionality) can used and reused in a lot of cases.
So something for anyone. The user inputs her credentials/keys for her multi-sig account(s) and each day when running the script all existing proposals pop up for approval/rejection. and there is one more option - add new proposed tx.

PS
And for this particular case I do not know... let the committee decide. If it is too much work to do it themselves each day... they can send the funds to trusted party(s) even mid process...using the same tool even.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

xeroc

Quote from: tonyk on January 04, 2016, 03:04:43 PM
Quote from: xeroc on January 04, 2016, 02:57:28 PM
Funds can of course also be split up :)

A short 15 min script can also be written.

I wonder who could possibly have the skills to do it????  ;)
Sure .. But for whom? The committe members? or a single trusted entity?

JonnyB

Quote from: tonyk on January 04, 2016, 03:04:43 PM
Quote from: xeroc on January 04, 2016, 02:57:28 PM
Funds can of course also be split up :)

A short 15 min script can also be written.

I wonder who could possibly have the skills to do it????  ;)

Do it tony! do it!
I run the @bitshares twitter handle
[url="//twitter.com/bitshares"]twitter.com/bitshares[/url]

tonyk

Quote from: xeroc on January 04, 2016, 02:57:28 PM
Funds can of course also be split up :)

A short 15 min script can also be written.

I wonder who could possibly have the skills to do it????  ;)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

xeroc


JonnyB

Quote from: xeroc on January 04, 2016, 08:23:59 AM
Quote from: Akado on January 04, 2016, 01:41:09 AM
Quote from: abit on January 04, 2016, 01:33:36 AM
Quote from: alt on January 04, 2016, 01:20:58 AM
Quote from: Akado on January 04, 2016, 12:09:18 AM
so, committee members, do you have something here with proposal potential?

@mindphlux @BunkerChain Labs @baozi @bitcrab
I agree we should use the fund to support liquility.
and I agree tony's advice
Make a proposal please?

Can you discuss that here/telegram and see if you can come up with a proposal?
In order to actually perform tony's idea, I see two options

- stick with multisig and have all committee members agree on
* withdraw accumulated fees
* place order
* cancel order
which is IMHO quite an overhead

instead I would propose to either pick a trusted committee/non-committee member that knows about
trading (read: not me) that can perform the trades on a new/empty account. Pay him a flat .5-1% or so
for his efforts

Just my thoughts

Yeah this makes sense, I know trading and would do it but I don't think I'm trusted yet.
I run the @bitshares twitter handle
[url="//twitter.com/bitshares"]twitter.com/bitshares[/url]

xeroc

Quote from: Akado on January 04, 2016, 01:41:09 AM
Quote from: abit on January 04, 2016, 01:33:36 AM
Quote from: alt on January 04, 2016, 01:20:58 AM
Quote from: Akado on January 04, 2016, 12:09:18 AM
so, committee members, do you have something here with proposal potential?

@mindphlux @BunkerChain Labs @baozi @bitcrab
I agree we should use the fund to support liquility.
and I agree tony's advice
Make a proposal please?

Can you discuss that here/telegram and see if you can come up with a proposal?
In order to actually perform tony's idea, I see two options

- stick with multisig and have all committee members agree on
* withdraw accumulated fees
* place order
* cancel order
which is IMHO quite an overhead

instead I would propose to either pick a trusted committee/non-committee member that knows about
trading (read: not me) that can perform the trades on a new/empty account. Pay him a flat .5-1% or so
for his efforts

Just my thoughts