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BSQ trading fee update for Cycle 15 #238
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Proposal TXIDs
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BSQ trading fee update for Cycle 15 was aproved by DAO and wiki page has been updated. |
According to the numbers presented in #248 I suggest that we increase the discount rate from 50% to 75% so that we get closer to the target BSQ/BTC fee ratio of 80%. Over the past 7 months we decreased from 50% to 33% of traders using BSQ as the fee option which is pretty low. Note that the fee ration can be achieved either by increasing BTC fee or decreasing BSQ fee. It is also important for Bisq's sustainibility to get the BSQ market more solid. Reduced traders demand is lowering BSQ volume and demand. |
I think we should improve the UI when the user is being asked to select BSQ vs. BTC during the trade process. make it really obvious: **How much u save on fees when selecting BSQ (highlight the fee difference that is already being calculated on the form) AND A LINK TO THE BSQ MARKET** Sell it a bit better than the current form. assume the user doesn't know anything about BSQ |
I don't think we should change the discount as I suspect that's not a driving factor for people not using BSQ for trading. We don't have this data, but I'm guessing that smaller trades drive relatively less usage of BSQ as the fees are quite low using BTC anyway. It's not worth the hassle to buy BSQ to save a dollar, or even less if mining fees are high. For repeat users it would be worth it, but for a single trade it probably isn't. I think making it easier to buy BSQ will have much more impact. |
@sqrrm |
If BTC/BSQ revenue ratio is actually low, I would agree to raise the discount ratio, although it should not be changed drastically and I would go on the direction of raising BTC fees and leaving BSQ at 0.4%. |
@MwithM Yes agree. I think we should look into options to improve UX and convenience for using BSQ as fee. With atomic swaps there might be some interesting options (e.g. get bsq from market maker bot at mid spread price, allow zero conf. tx?,...). Would be great if getting bsq becomes an instant 1 click operation. Maybe we could combine it with the trade tx even. That would allow maybe also zero conf. as a fee fraud would invalidate then the trade itself, which is irrational to do.... just breainstroming atm... |
Closed as new BSQ rates have been proposed for Cycle 18. |
This proposal keeps a record of the process to keep the BSQ trading fee at 50% discount to BTC trading fee. It will remain open until we need to update BSQ trading fees again.
Link to last issue: #202
Cycle 15
Parameters
There's a need to update BSQ trading fee for Cycle 15. The 15% cap for BSQ trading fee increase has been used.
New BSQ trading fees
A change parameter request for BSQ trading fees will be submitted to DAO voting:
New BSQ maker fee:
7.6 BSQ
New BSQ taker fee:
53.23BSQ
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