Difference between revisions of "Updating BSQ trading fees"
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| − | In order to keep the BSQ [[trading fees]] | + | In order to keep the BSQ [[trading fees]] at a 50% discount to BTC trading fees, the [[Compensation Maintainer]] checks and updates BSQ fees every cycle, following the steps in this article. |
| − | |||
| − | + | __TOC__ | |
| − | + | == Determine new BSQ fees == | |
| − | + | Three days before the end of proposal phase, the [[Compensation Maintainer]] shall: | |
| − | * | + | * 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 45% or over 55%, calculate new BSQ trading fees to restore a 50% discount (maximum allowed variation is 15%). | ||
| + | ** Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank. | ||
| − | + | == Submit new DAO parameter changes == | |
| − | + | Upon calculating the new BSQ fees, the [[Compensation Maintainer]] shall: | |
| − | + | * Post updated rates on [https://github.com/bisq-network/proposals/issues/202 proposal issue #202] (or indicate if there will be no changes). | |
| + | * Submit DAO change parameter proposals for new BSQ trading fees (if necessary). | ||
| − | + | == Communicate changes == | |
| − | + | Once DAO results are available, the [[Compensation Maintainer]] shall: | |
| + | |||
| + | * Update the [[trading fees]] page with new BSQ trading fees. | ||
| + | |||
| + | == Reference == | ||
| + | |||
| + | The following issue led to the development of this procedure: | ||
https://github.com/bisq-network/proposals/issues/173 | https://github.com/bisq-network/proposals/issues/173 | ||
[[Category:Processes]] | [[Category:Processes]] | ||
Revision as of 03:49, 2 June 2020
In order to keep the BSQ trading fees at a 50% discount to BTC trading fees, the Compensation Maintainer checks and updates BSQ fees every cycle, following the steps in this article.
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 45% or over 55%, calculate new BSQ trading fees to restore a 50% discount (maximum allowed variation is 15%).
- Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank.
Submit new DAO parameter changes
Upon calculating the new BSQ fees, the Compensation Maintainer shall:
- Post updated rates on proposal issue #202 (or indicate if there will be no changes).
- Submit DAO change parameter proposals for new BSQ trading fees (if necessary).
Communicate changes
Once DAO results are available, the Compensation Maintainer shall:
- Update the trading fees page with new BSQ trading fees.
Reference
The following issue led to the development of this procedure:
