Discussion about new trading fee schedule

[Ander]

Unfilled orders for annual and basic members should also be much lower.

[tonyk]

Actually the proposal is pretty good. We can even go with much higher (2-3-5x) fill order fees, imho, if we can implement at least  semi-intelligent rules what constitutes a filled (partially filled) order.

I wish we can have the same level of fee for non-filled order for basic users. 55 BTS for non-filled order is dumb...

well, I guess this explains why everyone else is using % based fees.

[clayop]

Actually the proposal is pretty good. We can even go with much higher (2-3-5x) fill order fees, imho, if we can implement at least  semi-intelligent rules what constitutes a filled (partially filled) order.

I wish we can have the same level of fee for non-filled order for basic users. 55 BTS for non-filled order is dumb...

[tonyk]

Actually the proposal is pretty good. We can even go with much higher (2-3-5x) fill order fees, imho, if we can implement at least  semi-intelligent rules what constitutes a filled (partially filled) order.

[clayop]

for the filled orders - annual/life members get their usual cash back. So:

Filled order
Lifetime/Annual/Basic member
0.05./ x.xx/ 0.25

Ah you're right. I will edit it. Thanks for the input!

[eagleeye]

I agree with clayop, we went low fees

[clayop]

According to the BM's proposal, we are going to have cheaper cancellation fee and relatively expensive filling order fee.

https://github.com/cryptonomex/graphene/issues/393

Summary:

Filled order
- Lifetime members: $0.05 (15 BTS)
- Annual member: $0.125 (35 BTS)
- Basic member: $0.25 (70 BTS)

Unfulfilled order
- Lifetime member: $0.0002 (0.1 BTS)
- Annual member: $0.0755 (20 BTS)
- Basic member: $0.20 (55 BTS)


It's desirable to have negligible amount of fee for non-filled order for lifetime member. But it is too expensive (especially psychologically) to charge over 50 BTS for non-filled order to basic members.
Now, we have 10 BTS fee for both filled/non-filled order. I would suggest to keep the fee at the current level (10 BTS or 9.9 BTS, as many merchants do).

The reasons are as follows

1. Higher fee can drive out common users. They first want to taste our product, but too high fee can barrier them
2. This fee can be additional. Many UIA, such as TRADE.BTC, already have market fee of 0.2% (same level as other exchanges). So we may have more expensive fee system than centralized exchanges.
3. 800% increase can be seen as too arbitrary. We'd rather keep the current fee system until the committee is decentralized. (now 10 of 11 is under control of BM)