Author Topic: where are all the OPEN.STEEM fees going?  (Read 1688 times)

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Offline kingslanding

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where are all the OPEN.STEEM fees going?
« on: July 13, 2016, 03:13:35 am »
What's the breakdown of the fees dispersion for something like OPEN.STEEM?  Are the fees going partly to OpenLedger, delegates, and the rest burned?  I can't find any documentation on the percentage breakdowns.
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Offline Shentist

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Re: where are all the OPEN.STEEM fees going?
« Reply #1 on: July 13, 2016, 05:28:39 am »
What's the breakdown of the fees dispersion for something like OPEN.STEEM?  Are the fees going partly to OpenLedger, delegates, and the rest burned?  I can't find any documentation on the percentage breakdowns.

OPEN.STEEM is a UIA= user issued asset so the fees are going to 100% to openledger. on every transaction you pay also the network fee, so this goes to the bitshares network.

Offline kingslanding

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Re: where are all the OPEN.STEEM fees going?
« Reply #2 on: July 13, 2016, 12:16:47 pm »
So just to be clear, every transaction whether a UIA or Smartcoin has a network fee going to the bitshares network?  On cryptofresh I see smartcoins such as CNY have 0% market fee.
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Offline cryptillionaire

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Re: where are all the OPEN.STEEM fees going?
« Reply #3 on: July 13, 2016, 01:01:05 pm »
So just to be clear, every transaction whether a UIA or Smartcoin has a network fee going to the bitshares network?  On cryptofresh I see smartcoins such as CNY have 0% market fee.
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.

Offline xeroc

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Re: where are all the OPEN.STEEM fees going?
« Reply #4 on: July 13, 2016, 01:16:02 pm »
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.
smartcoin fees go towards the committee-account and are thus held by all shareholders ..
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Offline kingslanding

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Re: where are all the OPEN.STEEM fees going?
« Reply #5 on: October 28, 2016, 04:37:10 am »
I believe smartcoin fees go towards witnesses, UIA fee fate is up to UIA issuer.
smartcoin fees go towards the committee-account and are thus held by all shareholders ..

Is this fee balance of the committee-account shown somewhere?  I looked on the cryptofresh budget stats and the accumulated fees seems always stuck at 17,391 BTS.   I would think the accumulated fees should be way higher.
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Offline xeroc

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Re: where are all the OPEN.STEEM fees going?
« Reply #6 on: October 28, 2016, 07:46:58 am »
It is the account "committee-account"
http://cryptofresh.com/u/committee-account
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Offline pc

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Re: where are all the OPEN.STEEM fees going?
« Reply #7 on: October 28, 2016, 04:10:11 pm »
OPEN.STEEM is not a smartcoin, it's a UIA created by OpenLedger. Trading fees on UIAs go to the issuer, i. e. to OpenLedger (who use part of the proceeds to buy back OBITS I believe).
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