Author Topic: Suggestion about Max Supply of UIA  (Read 2655 times)

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Offline gn1

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Suggestion about Max Supply of UIA
« on: January 31, 2017, 04:05:09 pm »
I would like to suggest a change to the current UIA creation system.
That is, "max supply should be locked on blockchain level upon creation of UIA".
I feel that the current system where the UIA issuer can easily change the max supply of UIA can interfere with the buying pressure of UIA, because potential buyers can be afraid of inflation and end up not buying the UIA even if they want it so badly.

What do you guys think?
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Offline fav

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Re: Suggestion about Max Supply of UIA
« Reply #1 on: January 31, 2017, 04:13:06 pm »
isn't there an option to lock that stuff after creation?

Offline svk

Re: Suggestion about Max Supply of UIA
« Reply #2 on: January 31, 2017, 05:11:23 pm »
I agree, the default behavior should be as you describe with max supply locked, with perhaps a permission flag that could be set on creation that would enable the issuer to change it later.
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Offline Thom

Re: Suggestion about Max Supply of UIA
« Reply #3 on: January 31, 2017, 05:51:12 pm »
I agree, the default behavior should be as you describe with max supply locked, with perhaps a permission flag that could be set on creation that would enable the issuer to change it later.

Hmmm... Isn't the point of the OP to prohibit the issuer from changing it later? If you leave that door open inflation is always possible.

On the other hand it provides the greatest flexibility to the issuer to leave it as is. That allows the issuer to make changes as they feel necessary. To restrict that is one too many rules IMO. If the issuer inflates too much s/he will bare the responsibility of the resulting (dis)incentive to owners / buyers.

I wonder if there's any way that holders of a UIA could be notified of changes in the supply, should that ever be changed after creation? Perhaps the blockchain could broadcast an empty transaction with a memo briefly stating what the new supply level is?
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Offline nmywn

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Re: Suggestion about Max Supply of UIA
« Reply #4 on: January 31, 2017, 10:38:35 pm »
Leave it as is and add lock supply flag for those who want.
[member=31]fav[/member] not in GUI for sure.

Offline svk

Re: Suggestion about Max Supply of UIA
« Reply #5 on: February 01, 2017, 07:16:58 am »
Leave it as is and add lock supply flag for those who want.
[member=31]fav[/member] not in GUI for sure.

Not in the GUI since it's not in the blockchain either,  needs to be added.
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Offline fav

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Re: Suggestion about Max Supply of UIA
« Reply #6 on: February 01, 2017, 07:38:14 am »
Leave it as is and add lock supply flag for those who want.
[member=31]fav[/member] not in GUI for sure.

Not in the GUI since it's not in the blockchain either,  needs to be added.

oh okay. should be added then!

Offline xeroc

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Re: Suggestion about Max Supply of UIA
« Reply #7 on: February 01, 2017, 10:16:18 am »
I have a list of additional permissions that should be added to UIAs .. wanted to write a new BSIP but haven't had the time.
So what I would like to do is this: Add additional permissions to assets that
* allow you to opt-out of changing max supply
* allow you to prevent trading (but nothing else .. transfers etc...)
* allow you to require an issue to approve a transfer from A->B
* allow you to switch an asset type pm<->mpa<->uia .. if there is no supply ..
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Offline gn1

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Re: Suggestion about Max Supply of UIA
« Reply #8 on: February 05, 2017, 03:58:22 am »
I have a list of additional permissions that should be added to UIAs .. wanted to write a new BSIP but haven't had the time.
So what I would like to do is this: Add additional permissions to assets that
* allow you to opt-out of changing max supply

Sounds very good.
I'm a BitShares enthusiast in Japan, spreading BitShares daily to the Japanese people through https://genxnotes.com. Help us grow bitJPY together, so that bitUSD/bitJPY market pair will become the most popular market worldwide! Imagine what kind of world it will become when we execute this.

Offline Chris4210

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Re: Suggestion about Max Supply of UIA
« Reply #9 on: February 05, 2017, 09:55:40 am »
I have a list of additional permissions that should be added to UIAs .. wanted to write a new BSIP but haven't had the time.
So what I would like to do is this: Add additional permissions to assets that
* allow you to opt-out of changing max supply
* allow you to prevent trading (but nothing else .. transfers etc...)
* allow you to require an issue to approve a transfer from A->B
* allow you to switch an asset type pm<->mpa<->uia .. if there is no supply ..

That is a good list, I added it to the Roadmap here https://docs.google.com/spreadsheets/d/1kgTYNEeqYP8xrEKBs2L0uc52xjQCPURuigI2CIplEtE/edit?usp=sharing

I also agree that we could add a UIA creation freeze with a flag and permission setting. Some people want to have the option to create new UIA, others might want to permanently turn it off to (If you create a new Bitcoin for example)

I donĀ“t know how big the development is for such an extension yet.
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Offline nmywn

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Re: Suggestion about Max Supply of UIA
« Reply #10 on: February 09, 2017, 12:54:09 am »
I have a list of additional permissions that should be added to UIAs .. wanted to write a new BSIP but haven't had the time.
So what I would like to do is this: Add additional permissions to assets that
* allow you to opt-out of changing max supply
* allow you to prevent trading (but nothing else .. transfers etc...)
* allow you to require an issue to approve a transfer from A->B
* allow you to switch an asset type pm<->mpa<->uia .. if there is no supply ..

I have
           2 different tokens [ A, B].
           3 markets [A:B, A:bts, B:bts].

   And I want this all at once:

*forbid all holders from transfers with my tokens.
*Specify only allowed markets for tokens: (A:B, A:bts, B:bts).
*prevent particular accounts from trading  A:bts, B:bts
*0.1% fee at A:B market.
*5% fee at A:bts B:bts markets.

Is this possible?

Offline xeroc

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Re: Suggestion about Max Supply of UIA
« Reply #11 on: February 09, 2017, 05:15:28 pm »
I have
           2 different tokens [ A, B].
           3 markets [A:B, A:bts, B:bts].

   And I want this all at once:

*forbid all holders from transfers with my tokens.
*Specify only allowed markets for tokens: (A:B, A:bts, B:bts).
*prevent particular accounts from trading  A:bts, B:bts
*0.1% fee at A:B market.
*5% fee at A:bts B:bts markets.

Is this possible?

almost ..
you cannot allow trading and prevent transfers
you cannot have different fees for different markets
those features would need to be added to the protocol which is totally possible but requires coding work and a hard fork

everything else is possible today
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Offline nmywn

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Re: Suggestion about Max Supply of UIA
« Reply #12 on: February 09, 2017, 07:21:14 pm »
Trading ON Transfers OFF enable possibility to use  assets as in-game tokens. Player can't cheat by harvesting free tokens from multiple accounts.

Offline xeroc

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Re: Suggestion about Max Supply of UIA
« Reply #13 on: February 09, 2017, 08:41:41 pm »
Trading ON Transfers OFF enable possibility to use  assets as in-game tokens. Player can't cheat by harvesting free tokens from multiple accounts.
We have alreqdy started discussion on how to do this best .. give us some time and this can be made possible
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