BSIP-0007 updates

bsip-0007.md

@@ -41,19 +41,99 @@ actions:
 
 # Implementation Aspects
 
-This proposal will require the use of this library to perform the necessary
+## Backup Considerations
-crypto operations in javascript (see [1]).
-
-# Backup Considerations
 
 Because private transfers are not recoverable from blockchain data alone,
 backups of your wallet after receiving a new private transfer are required. 
 
+## Javascript Implementation
+
+This proposal will require the use of this library to perform the necessary
+crypto operations in javascript (see [1]).
+
+# Funding
+
+BitSharestalk.org forum user `onceuponatime` has proposed to fund the
+development and implementation of this feature in full as a private investor and
+at zero cost to BitShares holders.
+
+Contract between `onceuponatime` and Cryptonomex:
+
+     The purpose of this contract is to develop a Privacy Mode feature, Privacy Mode
+     fee accumulation account, Maintenance Account, Initialization Package, and GUI
+     interface for BitShares scoped for a firm fixed price of $45K. The following
+     requirements apply:
+
+     1.  The Privacy Mode feature shall be implemented as proposed in
+         https://github.com/cryptonomex/graphene/issues/452 (as amended).
+     2.  It shall provide the following fee based services:
+           * Transfer from public account to their own private balance
+           * Transfer from one of their private accounts to one of their private contacts
+           * Transfer from one of their private accounts to any public account
+           * Register a new account using a private balance.
+           * Receive a private transfer from a 3rd party given a transfer receipt.
+     3.  Each of these services shall charge a fee initially set at 3x the standard
+         transfer fee, but which may be adjusted from time to time by the owner(s) of
+         the Privacy Mode fees account
+     4.  Fees shall be automatically distributed by the blockchain to the following
+         accounts:
+            * 20% to the BitShares network.
+            * 20% to a Maintenance Account.
+            * 60% to holder(s) of the Privacy Mode Fees accumulation account
+     5.  The Maintenance Account shall be controlled by five specified manager
+         accounts in  a 3 of 5 multisig configuration.  These managers will control
+         the allocation of this fund to future maintenance and upgrade tasks.
+     6.  The Initialization Package shall modify the blockchain to make the Privacy
+         Mode feature available to users.
+     7.  The Initialization Package shall make provision for the creation of
+         generic Fee Based Assets (FBA) and set the fee for such
+     8.  A GUI shall be provided in the OpenLedger and Light wallets to allow
+         ordinary users to easily use the Privacy Mode features.
+     9.  Documentation of the Privacy Mode feature and Maintenance and Fee
+         Accumulation account shall be provided on the appropriate reference web
+         sites.
+     10. Resulting software patch to the Graphene library shall have the same
+         license as the rest of Graphene subject to the condition that the results
+         of the Initialization package and fee distribution mechanisms are not
+         modified.
+
+# Management Account
+
+The STEALTH asset will be issued by the "management account" for this feature.
+`Onceuponatime` will be the initial owner of the issued asset (not the issuer).
+This management account will have multi-sig authority assigned to the 5 largest
+STEALTH holders weighted proportional to stake and will have the power to set
+the fee.
+
+# Roadmap
+
+* Feedback and discussion of this thread: *December 8 to December 10, 2015*
+* Presentation of an amended Cryptonomex Worker Proposal: *Dec 11, 2015*
+  This worker proposal should include Milestones of what is intended to be
+  accomplished by the end of week 1, week 2, week 3, week 4 and week 5 so that
+  the Community can follow progress in the github.
+* Voting for Worker Proposal: *Dec 11 to January 1, 2016*
+* onceuponatime forwards $45,000 to Cryptonomex: *Jan.2, 2016*
+* Cryptonomex does the development and testing of the feature: *(4 to 6 weeks)*
+* Hard fork for implementation of the feature: *Monday Feb, 15th*
+
 # Discussion
 
 For the best user experience this proposal is best combined with proposal for
 *hosted wallets* (to be defined).
 
+## No Participation in Referral Program
+
+The referral program does not play with Privacy mode transfers (because it is
+private, we don't know who the parties are or who referred them). This means
+that even if the fee were the same as the basic transfer, on average the
+lifetime member would be paying 5x more a Private Transfer than a Public
+Transfer. If you charge 3x the basic transfer fee, then life time members will
+pay 15x more for a Private transfer than a Public transfer.
+
+Percentage based fees are not possible with Private Transfers either because the
+amount being transferred is *private*!
+
 # Copyright
 
 This document is placed in the public domain.