45 lines
1.7 KiB
Markdown
45 lines
1.7 KiB
Markdown
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BSIP: 0004
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Title: Distribute Market Fees on Core Asset to Referral Program
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Authors: Daniel Larimer <Dan@cryptonomex.com>
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Fabian Schuh <Fabian@BitShares.org>
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Status: Draft
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Type: Protocol
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Created: 2015-12-16
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Discussion: <https://github.com/cryptonomex/graphene/issues/446>
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Worker: TBD
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# Abstract
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Currently the BitShares network does not charge a percentage based market fee on
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trades of the core asset (BTS) or assets created by the committee account
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(BitAssets like USD, CNY, etc). Instead BitShares has a fixed price for filled
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orders defined by the order creation fee. See [BSIP-0002](bsip-0002.md) for more
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information.
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This proposal is to implement a hard-fork that would grant committee members the
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option to charge market fees for their assets. Any market fees earned would be
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converted to BTS via the fee pool and then distributed to the referral program
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like any other fees.
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# Motivation
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Market pegged assets trade at 0% market fees by default. The commitee members
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could decide to set a percentage as fee already, but the fees would end up in
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the committee's account.
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By implementing this proposals, we let shareholders decide whether or not to
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redirect these profits to the referral program.
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# Discussion
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When enabling market fees for an asset, trading becomes slightly more expensive
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for traders and would discourage trades.
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On the other hand, having more funds to distribute for marketing in the form of
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referral rewards could improve exposure and incentivise to bring in new
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customers for our products and the trading platform which may result in
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increased profits from fees in general.
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# Copyright
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This document is placed in the public domain.
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