Difference between revisions of "Updating BSQ trading fees"
Jump to navigation
Jump to search
| Line 3: | Line 3: | ||
| − | In order to keep the BSQ [[trading fees]] discount mark of 50% against using BTC, Compensation maintainer will update BSQ fees | + | 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: |
==== Update spreadsheet and submit new DAO parameter changes ==== | ==== Update spreadsheet and submit new DAO parameter changes ==== | ||
Revision as of 16:04, 2 April 2020
Contents
This is a stub and needs to be approved by a proposal.
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:
Update spreadsheet and submit new DAO parameter changes
This actions will be performed 3 days before the end of proposal phase:
- Calculate on the BSQ trading fees spreadsheet the current BSQ discount using the 30 day weighted average USD/BSQ price and current USD/BTC price.
- If current BSQ discount is 5% over or under 50%, establish on the BSQ trading fees spreadsheet the new fees to bring them back to the 50% mark. Leave new fees blank if there's no need to update.
- Submit DAO change parameter proposals with new BSQ trading fees when needed.
- Post at proposal # the rates for next cycle even if there's no changes.
Communicate changes
- Update trading fees wiki page when new BSQ trading fees are approved by DAO voting at the end of the cycle.
