question: plus five percent?

[merockstar]

The  is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.

now it's clear! thanks toast

[toast]

The  is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.

[merockstar]

The shorting party who issues bitasset is paying the shorting interest.


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that makes even more sense. thanks for helping me clear this up in my mind.

one more question: will bitUSD blocks be confirmed by the same delegates as bitshares?

edit, wait a second: the collateral that gets put up by the shorting party is in bitshares, not bitAsset

so destroying bitshares drives up the price of bitshares...

i guess i need somebody to spell this out for me like I'm a tard (not far from the truth)

[mitao]

The shorting party who issues bitasset is paying the shorting interest.


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[merockstar]

5% is for bitasset


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but where does it come from?

actually, thinking this through, if bitAssets don't have delegates, but have transaction fees, that makes a lot of sense.

will the fees be set at 5%?

[mitao]

5% is for bitasset


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[merockstar]

 

is that still happening? the derivatives model was given up on right?

so that leaves the transaction fees that get destroyed-- but... delegates are going to be able to set that for themselves, no?

so it might actually be + 1%, or +10%?

am I missing a piece of the puzzle?

how do you calculate bitAsset fees so that the transactions fees works out to  for everybody else?