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bitshares / bsips

BitShares Improvement Proposals and Protocols. These technical documents describe the process of updating and improving the BitShares blockchain and technical ecosystem.
https://bitshares.github.io
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New BSIP: charge market fee for BTS asset #262

Open abitmore opened 4 years ago

abitmore commented 4 years ago

Currently in the BitShares blockchain, traders can trade the BTS asset without paying a market fee due to the BTS asset's zero market_fee_percent option.

Since the BTS asset's owner is null-account, charging a market fee means on each trade there will be some amount of BTS asset burned thus total amount of supply of BTS asset would decrease, which would be good PR for the platform.

IMO an appropriate value for the market fee percentage is 0.02%. 0.01% is also reasonable.

A small side benefit of this change is it will slightly suppress wash trading of shit coins (against the BTS asset) in the DEX.

froooze commented 4 years ago

This is a better approach, than BSIP86.

bitsharescrude commented 4 years ago

Support, this is a good one, stop work on BSIP 86 and begin implementation of this instead

shulthz commented 4 years ago

Don't agree，have the same lawsuit like BSIP86.

If charge the fee from BTS/Bitasset，no problem.

but charge the fee from BTS/gateway.asset, big problem.

froooze commented 4 years ago

@shulthz : The BTS market gets taxed, not the asset owner. There is no different between any asset.

shulthz commented 4 years ago

@shulthz : The BTS market gets taxed, not the asset owner. There is no different between any asset.

The asset‘s market was controlled by the asset owner, not BTS.

You charge market fees from the market, buy/sell is no different, then the responsibility for supervising these assets come.

BTS is the owner of BITasset, can charge fees from BTS/BITasset market as BTS can control this market.

abitmore commented 4 years ago

@shulthz it seems you didn't understand the idea. The idea is to set a non-zero market_fee_percent (E.G. 0.02%) on the BTS asset only. When a trader (buyer) buys 10000 BTS with any asset, 2 BTS will be burned and the buyer will get 9998 BTS. It doesn't change the amount of the other asset the seller will get. I don't think there is any legal issue, it's much different than BSIP86.

shulthz commented 4 years ago

@shulthz it seems you didn't understand the idea. The idea is to set a non-zero market_fee_percent (E.G. 0.02%) on the BTS asset only. When a trader (buyer) buys 10000 BTS with any asset, 2 BTS will be burned and the buyer will get 9998 BTS. It doesn't change the amount of the other asset the seller will get. I don't think there is any legal issue, it's much different than BSIP86.

You still didn't understand it. It's a market, not alone, buy or sell bts is no different, you charge fees from the market, even only charge BTS, you will have responsibility for supervising this asset market with the asset owner as you getting market trading fee profit not the transaction fee from the market.

The asset owner can control to open or close this asset market, did the BTS can control it?

gateway and bridge service……

One person use btc to buy bts from another, this is the business of these two people, when BTS come into to charge the trading fees from this business, then BTS become the related person of this trading.

Bitasset/gateway.asset market has the same problem……KYC……