Can someone explain the fee pool?

[xeroc]

The OPs question will be coverr in another whitepaper .. i hope to release it asap ..

[jakub]

This thread is yet another example how badly we need proper documentation for Graphene.
So good we have @xeroc working on it.

[svk]

BTW you mentioned the flags the other day, where did you figure out what they actually do?

Is this what you're referring to?
https://github.com/cryptonomex/graphene/blob/62c22fbf18d748531c468e0d7a88d08eddbd6f20/libraries/chain/include/graphene/chain/protocol/types.hpp
(line 86)

Yes, thanks. I found it as well and have been implementing them this morning.

[monsterer]

50% of the asset creation fee is put into the fee pool, so METAFEES started out with 2500 BTS in the pool.

That's enough to pay for approx 60 xfers or 250 orders, and it appears it's reached that limit..

Since the CER is 25,000 BTS/METAFEES, you collect 0.1 METAFEES per 2500 BTS in pool spending.
If you were to set the CER to 2,500 BTS/METAFEES, then next time you run through 2500 BTS in the pool, you'll have collected 1 METAFEES in exchange.

Doesn't that mean I'd constantly need to convert the collected METAFEES into BTS and then re-fund the pool?

Is there any way I can just set METAFEES to require a BTS transaction fee?

[roadscape]

BTW you mentioned the flags the other day, where did you figure out what they actually do?

Is this what you're referring to?
https://github.com/cryptonomex/graphene/blob/62c22fbf18d748531c468e0d7a88d08eddbd6f20/libraries/chain/include/graphene/chain/protocol/types.hpp
(line 86)

[roadscape]

It's used to convert METAFEES to BTS for the purpose of paying fees, since all fees are really paid in BTS.

You finance the funding of the pool by keeping the CORE exchange rate slightly higher than the going rate of the asset, so you make money from the conversion. Yours is currently set to 25000 BTS per METAFEES though which is a bit high.

Hmmmm.... If it's set too high, how did the pool run out?

50% of the asset creation fee is put into the fee pool, so METAFEES started out with 2500 BTS in the pool.

That's enough to pay for approx 60 xfers or 250 orders, and it appears it's reached that limit..

Since the CER is 25,000 BTS/METAFEES, you collect 0.1 METAFEES per 2500 BTS in pool spending.
If you were to set the CER to 2,500 BTS/METAFEES, then next time you run through 2500 BTS in the pool, you'll have collected 1 METAFEES in exchange.

[svk]

It's used to convert METAFEES to BTS for the purpose of paying fees, since all fees are really paid in BTS.

You finance the funding of the pool by keeping the CORE exchange rate slightly higher than the going rate of the asset, so you make money from the conversion. Yours is currently set to 25000 BTS per METAFEES though which is a bit high.

Hmmmm.... If it's set too high, how did the pool run out?

I think you need to do an initial funding as well cause it starts out empty.

We should add a Fund fee pool button to the GUI actually..

BTW you mentioned the flags the other day, where did you figure out what they actually do?

[JonnyB]

i can't seem to transfer my metafees  to another account right now

[monsterer]

It's used to convert METAFEES to BTS for the purpose of paying fees, since all fees are really paid in BTS.

You finance the funding of the pool by keeping the CORE exchange rate slightly higher than the going rate of the asset, so you make money from the conversion. Yours is currently set to 25000 BTS per METAFEES though which is a bit high.

Hmmmm.... If it's set too high, how did the pool run out?

[svk]

It's used to convert METAFEES to BTS for the purpose of paying fees, since all fees are really paid in BTS.

You finance the funding of the pool by keeping the CORE exchange rate slightly higher than the going rate of the asset, so you make money from the conversion. Yours is currently set to 25000 BTS per METAFEES though which is a bit high.

[monsterer]

I have no idea what it is, or why it needs to be funded.

Apparently, the fee pool for METAFEES is somehow empty, which means no one can do anything with it. How does this work? Do we have to pay into the fee pool so anyone can transfer METAFEES? Isn't this going to be very expensive to keep up, if we need to constantly refill it?