Difference between revisions of "Updating BSQ trading fees"

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m (Plebeian9000 moved page Update BSQ trading fees to Updating BSQ trading fees: use gerunds in title per style guide)
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In order to keep the BSQ [[trading fees]] discount mark of 50% against using BTC, Compensation maintainer will have to check and update BSQ fees every cycle, following this steps:
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'''Updating BSQ fees''' takes place every cycle to keep the BSQ [[trading fees]] at a 50% discount to BTC trading fees.
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==== Update spreadsheet and submit new DAO parameter changes ====
 
  
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This actions will be performed 3 days before the end of proposal phase:
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The [[Compensation Maintainer]] takes the following steps to update BSQ trading fees.
  
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* Calculate on the BSQ trading fees [https://docs.google.com/spreadsheets/d/1-hISy7F0NSqPnRxDOoi1k7df1qLJHfQTxhrVLt6NbX4/edit#gid=0 spreadsheet] the current BSQ discount using the 30 day weighted average USD/BSQ price and current USD/BTC price.
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__TOC__
  
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* If current BSQ discount is not between 45-55%, calculate on the BSQ trading fees spreadsheet the new fees to bring them back to the 50% mark.
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== Determine new BSQ fees ==
  
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* Maximum BSQ variation from current and proposed fees should be +15%. Leave new fees blank if there's no need to update.
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Three days before the end of proposal phase, the [[Compensation Maintainer]] shall:
  
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* Submit DAO change parameter proposals with new BSQ trading fees when needed.
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* 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.
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** 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%).
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** Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank.
  
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* Post at proposal [https://github.com/bisq-network/proposals/issues/202 #202] the rates for next cycle even if there are no changes.
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== Submit DAO parameter proposals ==
  
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==== Communicate changes ====
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Upon calculating the new BSQ fees, the [[Compensation Maintainer]] shall:
  
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* Update [[trading fees]] page when new BSQ trading fees are approved by DAO voting at the end of the cycle.
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* Create a new post on [https://github.com/bisq-network/proposals/ github proposals] with the title <code>BSQ trading fee update for Cycle X</code> 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).
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* Submit DAO change parameter proposals for new BSQ trading fees and comment the corresponding TXIDs (if necessary).
  
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==== Reference ====
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== Communicate changes ==
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Once DAO results are available, the [[Compensation Maintainer]] shall:
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* Update the [[trading fees]] page with new BSQ trading fees.
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== Reference ==
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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 21:03, 22 July 2020

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.

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 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:

Reference

The following issue led to the development of this procedure:

https://github.com/bisq-network/proposals/issues/173

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