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BSIP: 0081
Title: Simple Maker-Taker Market Fees
Author: Abit More <https://github.com/abitmore>
Status: Draft
Type: Protocol
Created: 2019-10-02
Discussion: https://github.com/bitshares/bsips/issues/229
Obsoletes: BSIP-0003
Worker: TBD

Abstract

BSIP67 proposed a mechanism which has maker-taker fees in consideration, but it's relatively complex.

This BSIP proposes a protocol change to enable asset owners to specify different market fee rate for maker orders and taker orders.

Motivation

Asset owners need tools to incentivize trading of their assets.

Rationale

Maker-taker fee model is adopted widely in centralized exchanges and helped them to attract trading activities.

Specification

There is already a flag market_fee_percent in asset options.

Add a new optional flag taker_fee_percent into asset options, which can only be set or updated by asset owners after the consensus upgrade. The valid range of the new flag is [0%, 100%].

Before the consensus upgrade, when an order buying that asset got filled, the amount bought_amount * market_fee_percent (capped by max_market_fee) will enter the asset's market fee sharing process.

After the consensus upgrade, when an order buying the asset got filled,

  • if the order is a maker, or the taker_fee_percent flag is not set in the asset, the amount bought_amount * market_fee_percent (capped by max_market_fee) will enter the asset's market fee sharing process;
  • otherwise (if the order is a taker and the taker_fee_percent is set in the asset), the amount bought_amount * taker_fee_percent (capped by max_market_fee) will enter the asset's market fee sharing process.

Copyright

This document is placed in the public domain.