As announced previously in
this thread by me and
this thread by abit, we have created a worker proposal for percentage-based transfer fees.
You'll find it in the CLI under this id:
1.14.29 and in the GUI under this title: [
BSIP10] Percentage-based transfer fee solution based on CER.
A detailed description, in the form of a BSIP, can be found on github:
https://github.com/bitshares/bsips/blob/master/bsip-0010.mdThe main goal of this proposal is to make BitShares viable for transferring smaller amounts. The current flat transfer rate is not friendly for small transfers, as for these transfers the flat transfer fee makes up a significant part of the amount being sent. We want to change that by making the fee proportional to the amount being sent, thus strictly related to the usefulness of the transfer as perceived by the user. The important thing is that we will end up with two transfer fee modes (flat and percentage-based) and it will be up to issuers to choose the best option for their assets. So this is an opt-in feature decided by the issuer (committee members in case of public SmartCoins).
Also, our aim is to open up BitShares for micro-payments without doing any damage to the referral program. However, this aspect largely depends on the parameter settings that will ultimately be decided by the committee.
The concept itself, our approach and the expected outcome have all been explained in details in the BSIP so I won't repeat it here.
I just want to emphasize one important aspect: this worker proposal is the first ever attempt to introduce a significant new feature to Graphene (and BitShares) without the direct involvement from CNX. If we are successful, this proposal will pave the way for other entrepreneurs and developers to follow in our footsteps and make BitShares less dependent on CNX.
As stated in the BSIP, we would like to make detailed documentation a crucial part of this proposal, thus offering an important benefit for the whole ecosystem. The documentation produced as a result of this work will help other developers to join the ecosystem and offer worker proposals for further features.
Our proposal includes the whole package:
- the coding (by abit),
- the code review (by CNX),
- unit testing and testnet testing (by abit & jakub, hopefully with the help from xeroc),
- full documentation & guidelines for similar projects (by jakub),
- GUI support (by svk).
As for known limitations of this proposal, please refer to the BSIP.
The most important one is this: our proposal is unable to cover stealth transfers (due to the very nature of stealth transactions).
Our total budget is 4.4m BTS, with the following split:
- abit: 3000k
- jakub: 800k
- CNX: 350k
- svk: 120k
- budget for testing: 130k
As for vesting, initially we intended to make at least 50% of the payout vest for a year.
However, some of our expenses (e.g. code review or GUI support) require immediate vesting, so we've concluded that we will stick to immediate vesting but we will introduce an escrow in the form of the committee-account, so that no payouts can be made without the committee agreeing that the goal of this proposal has been achieved.
https://cryptofresh.com/u/bsip10-workerAs for the time-frame (assuming the worker proposal gets approved by mid Feb):
- we estimate that 6 weeks are needed to complete the coding
- further 2 weeks are needed to produce unit tests and GUI support
- further 2 weeks should be reserved for code review and potential fixes after the review
- further 2 weeks should be reserved for testing on the public testnet
Therefore a total of 12 weeks is our target.
The process of creating full documentation will be done in parallel and should be complete before deployment.
If you have any questions or concerns, please ask in this thread.
We appreciate your votes for
1.14.29!