Updating BSQ trading fees

Updating BSQ fees takes place every cycle to keep the BSQ trading fees at a 60% discount to BTC trading fees.

The Compensation Maintainer takes the following steps to update BSQ trading fees.

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.
  • 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 X indicating 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.