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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 flag taker_fee_percent into asset options, assign market_fee_percent to taker_fee_percentage at the consensus upgrade time for existing assets. The new flag can only be set or updated by asset owners after the consensus upgrade.

Before the consensus upgrade, when an order buying that asset got filled, the amount bought_amount * market_fee_percent will go to the asset's accumulated fees.

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

  • if the order is a maker, the amount bought_amount * market_fee_percent will go to the asset's accumulated fees;
  • otherwise (if the order is a taker), the amount bought_amount * taker_fee_percent will go to the asset's accumulated fees.

Copyright

This document is placed in the public domain.