BSIP-0004

bsip-0004.md

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