Author Topic: market fee sharing setting for smartcoins  (Read 2245 times)

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Offline Thul3

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Re: market fee sharing setting for smartcoins
« Reply #15 on: June 16, 2019, 06:50:05 pm »
80% refferal fee is to high in my opinion.
Other places are offering 50%. 60% is already very generous.
Increasing refferal commission from 50-60% to 80% is not important in my opinion.
What is more important is that currently only LTM members are allowed to promote via refferal system.
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.

Also there needs to be funds to promote it on webmaster affiliate pages and an active team which will contact websites which are ranking well on top keywords for our DEX informing them about the refferal system.

Another very important factor is that all UI's which owns their own assets need to declare an amount of their trading commission they are willing to share with the webmaster who reffered the new traders.

0.1% trading fee is imo OK. 

Quote
I believe this setting will greatly encourage users to become life time members and invite new users.

any thoughts?

You should focus on big webmasters with hugh crypto traffic.
They are the main key factor for a big increase and not a few hundred bitshares community members with some low amount of social media traffic.

Just have a look at the traffic amount a single webmaster (biggest one) brought to Binance.
1886.85733966 BTC commission (50% refferal) of 0.1% trading fee.
This means only his traffic alone made a volume of minimum 3772000 BTC .


I'm pretty sure that this kind of big webmasters are looking for good refferal programs which exchanges are not saturated with his current traffic which means his conversation rate for new members will be very high making bitshares refferal program lucrative for him if the commissions are worth it.

« Last Edit: June 16, 2019, 07:35:18 pm by Thul3 »

Offline bench

Re: market fee sharing setting for smartcoins
« Reply #16 on: June 16, 2019, 08:25:19 pm »
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.

What should we change ?

A light referral system for people without a LTM ?
« Last Edit: June 16, 2019, 11:04:00 pm by bench »
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Offline bitcrab

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Re: market fee sharing setting for smartcoins
« Reply #17 on: June 17, 2019, 03:53:51 am »
80% refferal fee is to high in my opinion.
Other places are offering 50%. 60% is already very generous.
Increasing refferal commission from 50-60% to 80% is not important in my opinion.
What is more important is that currently only LTM members are allowed to promote via refferal system.
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.

Also there needs to be funds to promote it on webmaster affiliate pages and an active team which will contact websites which are ranking well on top keywords for our DEX informing them about the refferal system.

Another very important factor is that all UI's which owns their own assets need to declare an amount of their trading commission they are willing to share with the webmaster who reffered the new traders.

0.1% trading fee is imo OK. 

Quote
I believe this setting will greatly encourage users to become life time members and invite new users.

any thoughts?

You should focus on big webmasters with hugh crypto traffic.
They are the main key factor for a big increase and not a few hundred bitshares community members with some low amount of social media traffic.

Just have a look at the traffic amount a single webmaster (biggest one) brought to Binance.
1886.85733966 BTC commission (50% refferal) of 0.1% trading fee.
This means only his traffic alone made a volume of minimum 3772000 BTC .


I'm pretty sure that this kind of big webmasters are looking for good refferal programs which exchanges are not saturated with his current traffic which means his conversation rate for new members will be very high making bitshares refferal program lucrative for him if the commissions are worth it.

LTM based referral is core code level infrastructure, changing it need change on core code, not easy and need time and I think we now need to work on the current design.

80% is too high? one point is that BTS-DEX is different with CEX, it's OK for DEX to share higher percent market fee, which means also to share the profit to shareholders/contributers. and higher percent will help to incentivize at this stage.

yes it's good idea to work with website with high traffic.


Offline bench

Re: market fee sharing setting for smartcoins
« Reply #18 on: June 17, 2019, 09:36:53 pm »
80% referral bonus is need to close the buying gab for a LTM. If CEX only offer 50%, this is another advantage for DEX.

On the other side the DEX profits, when people buy more LTM, but doesn't loose much in terms of trading fees.
 
« Last Edit: June 17, 2019, 09:38:31 pm by bench »
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Offline matle85

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Re: market fee sharing setting for smartcoins
« Reply #19 on: June 18, 2019, 09:55:52 am »
I don't think 80% is high because it is only for normal members - once they upgrade to LTM (which all serious traders will do once they are trading significant volumes) the referrer won't get anything.

Correct?

This is a bit of a turn off for referrers in my view.

Offline bench

Re: market fee sharing setting for smartcoins
« Reply #20 on: June 18, 2019, 10:28:09 am »
Correct?
Yes, but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number. 
« Last Edit: June 18, 2019, 08:12:31 pm by bench »
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Offline matle85

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Re: market fee sharing setting for smartcoins
« Reply #21 on: June 18, 2019, 03:42:11 pm »
Correct?
Yes but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number.

Noted - i didn't realise they also get 80% of that fee. Pretty great actually then!

Offline sschiessl

Re: market fee sharing setting for smartcoins
« Reply #22 on: June 19, 2019, 06:34:44 am »
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.


Do the marketing such that the community pays the LTM for webmasters. Send serious webmasters to me and I will hook them up. Also has the benefits that we know who they are and we can establish first contact right away.

Offline xeroc

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Re: market fee sharing setting for smartcoins
« Reply #23 on: June 19, 2019, 07:52:04 am »
LTM based referral is core code level infrastructure, changing it need change on core code, not easy and need time and I think we now need to work on the current design.
Actually, the 80% are a committee parameter that can be changed by committee. In fact, it's the 20% that is a parameter and it is called "network_percent_of_fee".
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