Author Topic: [BSIP Draft] Managed Vesting Balances, and Savings Account  (Read 89 times)

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Offline blockchainprojectsbv

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[BSIP Draft] Managed Vesting Balances, and Savings Account
« on: November 06, 2018, 09:09:45 am »
Dear BitShares Community,

allow us to introduce a new BSIP that will enable off-chain activities that can be settled transparently on the blockchain, and implicitly enables the creation of savings accounts for the users that are locked a certain time period to enhance fund security.

For an easy read, please find the file here:
   https://github.com/blockchainprojects/bsips/blob/56_Managed_Vesting_Policies/bsip-0056.md

Any and all feedback are welcome, this BSIP is a draft so far, discussion will also be found in the respective pull request
   https://github.com/bitshares/bsips/pull/119

Best regards,
Stefan Schie├čl
Blockchain Projects BV

Offline yury

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Re: [BSIP Draft] Managed Vesting Balances, and Savings Account
« Reply #1 on: November 12, 2018, 03:44:43 pm »
Interesting, but not an easy thing to comprehend... I agree vesting would be a good feature to have on Bitshares, but not sure about that management feature... If I am a manager of your vesting balance, then I'm actually able to get the balance, correct? What is the value to have this vesting balance management ability? Sorry, this may be described in the BSIP, but too many information, not easy to get the key point)
Yury Cherniawsky
OpenLedger

Offline sschiessl

Re: [BSIP Draft] Managed Vesting Balances, and Savings Account
« Reply #2 on: November 12, 2018, 07:45:12 pm »
The manager feature allows that a user locks away funds and grants the manager control over it. The user can only withdraw with a delay, which in turn means that the manager has enough time to react to it and adjust the balance if needed.

This can for example be used as a deposit into a CEX. Locking away funds on the BitShares Blockchain represents a deposit into the CEX, which allows the user to trade on the CEX, while the CEX does not need to be the custodian of the funds. The CEX settles the trades of the user onto the Blockchain every X amount of time and recognizes when the user wants to withdraw. With the built-in delay the CEX has enough time to settle the user balance on the blockchain according to internal trades.

Other use cases are possible too, like a promotion programm within the BitShares Blockchain (lock away asset X and gain Y% every Z time period), and of course a savings account (lock away asset X, can only be accessed after waiting 3 days, no manager required)