Difference between revisions of "Updating BSQ trading fees"
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m (→Determine new BSQ fees: 50% discount) |
(→Determine new BSQ fees: Increase range for discount as per proposal #380) |
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| − | '''Updating BSQ fees''' takes place every cycle to keep the BSQ [[trading fees]] at a | + | '''Updating BSQ fees''' takes place every cycle to keep the BSQ [[trading fees]] at a 50% discount to BTC trading fees. |
The [[Compensation Maintainer]] takes the following steps to update BSQ trading fees. | The [[Compensation Maintainer]] takes the following steps to update BSQ trading fees. | ||
| Line 10: | Line 10: | ||
* Calculate BSQ trading fee discount [https://docs.google.com/spreadsheets/d/1-hISy7F0NSqPnRxDOoi1k7df1qLJHfQTxhrVLt6NbX4/edit#gid=0 on this spreadsheet] using the 30-day weighted average USD/BSQ price and live USD/BTC price at the time. | * Calculate BSQ trading fee discount [https://docs.google.com/spreadsheets/d/1-hISy7F0NSqPnRxDOoi1k7df1qLJHfQTxhrVLt6NbX4/edit#gid=0 on this spreadsheet] using the 30-day weighted average USD/BSQ price and live USD/BTC price at the time. | ||
| − | ** If existing BSQ discount is under | + | ** If existing BSQ discount is under 40% or over 60%, calculate new BSQ trading fees to restore a 50% discount. |
** Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank. | ** Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank. | ||
Latest revision as of 16:51, 16 October 2022
Updating BSQ fees takes place every cycle to keep the BSQ trading fees at a 50% discount to BTC trading fees.
The Compensation Maintainer takes the following steps to update BSQ trading fees.
Contents
Determine new BSQ fees
Three days before the end of proposal phase, the Compensation Maintainer shall:
- Calculate BSQ trading fee discount on this spreadsheet using the 30-day weighted average USD/BSQ price and live USD/BTC price at the time.
- If existing BSQ discount is under 40% or over 60%, calculate new BSQ trading fees to restore a 50% discount.
- Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank.
Submit DAO parameter proposals
Upon calculating the new BSQ fees, the Compensation Maintainer shall:
- Create a new post on github proposals with the title
BSQ trading fee update for Cycle Xindicating the new proposed trading fees and close the old post (or indicate in a comment at the already opened post if there will be no changes). - Submit DAO change parameter proposals for new BSQ trading fees and comment the corresponding TXIDs (if necessary).
Communicate changes
Once DAO results are available, the Compensation Maintainer shall:
- Update the trading fees page with new BSQ trading fees.
Reference
Proposals #173 and #365 led to the development of this procedure.
