Author Topic: [Fee Schedule] Updating Fees - proposal created (2 weeks expiration)  (Read 3258 times)

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Offline iamredbar

* update bid_collateral fee to be same as call_order_update (debt position update) fee: 0.02526 BTS

THANK YOU!

Offline clockwork

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Proposal 1.10.25608 created:
* update bid_collateral fee to be same as call_order_update (debt position update) fee: 0.02526 BTS
* update account_update fee to 0.02528 BTS (increased by 1 Satoshi)

The proposal will expire in 3 days (2019-03-29 11:50:00 UTC).

Please vote.

good catch abit

voted

Offline abit

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Proposal 1.10.25608 created:
* update bid_collateral fee to be same as call_order_update (debt position update) fee: 0.02526 BTS
* update account_update fee to 0.02528 BTS (increased by 1 Satoshi)

The proposal will expire in 3 days (2019-03-29 11:50:00 UTC).

Please vote.
« Last Edit: March 26, 2019, 10:42:57 am by abit »
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Offline sschiessl

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While you are at it please increase the account_update fee again a notch to hinder the proposal scammer.

Offline abit

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Note: fees for new operations have been explicitly set, however, some of them didn't honor original USD--denominated value.
Specifically, bid_collateral fee was set to same as call_order_update fee, it's now increased to $5, which greatly discourages participation. Here I suggest that we revert this change with a new proposal.
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Offline clockwork

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FYI. New Fee schedule adjustment has been postponed pending further conversation and agreement on a gradual raise. The fees will only be adjusted to the previously agreed USD prices (i.e. adjusted for BTS price decrease since)

A new proposal for this will be created soon.

Offline xeroc

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For your information:
The updated fee schedule proposal has been approved by committee
It will execute on 2019-02-15T11:08:38 and take effect on 2019-02-15T12:00:00

Offline Bangzi

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IMHO, in short term market fee can used to speed up revival of BitUSD:

1. Collected market fee convert from BitUSD to BTS via Settle in UI.
2. Then BTS can used to bids for the collateral in the settlement fund.
3. Once BitUSD revived, market fee used to decrease debt position until zero.

Anyway, market participants may react negatively if increase the fee, better keep it same or reduce. Binance market fee is 0.1% only.
Bitshares DEX - Over 1000 Coins, Buy, Sell, Transfer & List Any Coins |Free Signup Today: https://wallet.bitshares.org/?r=bangzi

Offline bitcrab

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what I care most is the market fee of smartcoins.

Code: [Select]
2. Another *core* functionality and major *value proposition* is the
#    decentralized exchange (DEX) which is associated with a different set of feed.
#    Currently, the fees are flat fees for order creation, cancellation and update,
#    and are independent of the amount actually traded. Hence, small volume orders
#    pay the same fee as large volume orders. Taking a closer look at any
#    competitor reveals that this should certainly chance. Instead of asking for a
#    rather high flat fee to compensate the costs of the DEX (storing and matching
#    orders), I here propose to reduce the flat fee drastically to an amount that
#    mostly to prevents spam and instead set a percentage trading fee for every
#    committee-owned asset. The advantages are that the committee (read: DAC) could
#    earn more fees from matching orders. Since cancellation of orders results in a
#    refund of the creation fee, this should also encourage traders to bring
#    liquidity. A disadvantage is that the DAC earns less from trading of assets
#    that are not owned by the committee, such as OPEN.BTC, TRADE.MUSE etc. because
#    the flat fees are reduced and the percentage market fees go to the
#    corresponding issuer. Anyway, this approach should result in more traders
#    using the DEX and an increase of liquidity.
#
#    What percentage should be used? Since we are using a fixed percentage
#    independent of an individuals volume, we should choose a percentage that is
#    lower than the highest fee asked for by big exchanges such as Kraken,
#    Coinbase, BTC38, etc. Furthermore, regional difference should be
#    taken into account eventually. For now I propose a fee of
#
#                            0.10%
#
#    of the matched volume which is less than most centralized competitors even
#    though we offer an increased security over them. This fee may be considered as
#    a welcome package and may probably be increased to something close to 0.5% to
#    reflect the decentralized and trust-free nature of the DEX.
#

In my consideration, there is no possibility to increase the smartcoin market fee to 0.5%, in the future, these market fee will either stay at 0.1% or return to 0.

initially the market fee for all the smartcoins is 0, later for bitCNY and bitUSD the market fee was increased to 0.1%, with the start of the open market operation plan.

smartcoin is different with UIA, the community always suffer insufficiency of the supply, market fee lead to accumulation of the smartcoins on committee-account, if committee cannot put a good use plan on these revenue, maybe it is better to set the market fee to 0 and give traders more profit space.

another point is the incentive to better market depth/trading vitality, for example, GDEX is planning to find some market maker to provide more trading depth, these market maker always request lowest or even 0 market fee, for UIA like GDEX.BTC, GDEX can chose to return the market fee to market maker account, but there is no way to do this for bitCNY, which means market making service  for smartcoins trading pair is more expensive.

market fee rate like 0.5% is totally unacceptable, which will drive the traders away.


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Offline xeroc

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Dear community,

I just created a proposal for committee that expires in 2 weeks.
The proposal proposes to set the fees according to @clockworkgr results of business analysis.

The proposal has been discussed here:
https://github.com/bitshares/committee-tools/pull/2

The details of the fee schedule are here:
https://github.com/bitshares/committee-tools/blob/master/usd-denominated-fees/config.py

There were over 8 weeks since we first started discussions publicly here:
https://github.com/bitshares/committee-tools/pull/1

Details and reasoning for the proposed (USD) valued fees are here:
https://github.com/bitshares/committee-tools/files/2629094/2018-11-update-details.xlsx

As USD valuem the current feed price is taken.

I expect every committee member to either approve or provide an explanation (to the community) for not approving.