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Question: What minimum fee should be charged for issuance of an asset?  (Voting closed: December 07, 2013, 05:34:12 PM)
1 - 5 (8.5%)
10 - 11 (18.6%)
100 - 10 (16.9%)
1'000 - 19 (32.2%)
10'000 - 11 (18.6%)
100'000 - 0 (0%)
1'000'000 - 3 (5.1%)
Total Voters: 59

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Author Topic: Nxt's Decentralized Exchange / Asset issuance fee  (Read 1117 times)
Come-from-Beyond
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November 30, 2013, 05:34:12 PM
 #1

A question related to Nxt's decentralized exchange.

Most part is already implemented and we expect to get it enabled soon. But there is a problem. If a fee for issuance of an asset (token, bond, whatever) is just 1 NXT (that's how it's done now) then anyone can spam blockchain with thousands of useless assets creating a mess in the interface. We should raise the minimum fee to avoid this problem. Let's vote now.
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November 30, 2013, 05:42:28 PM
 #2

100-500 optimally
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November 30, 2013, 05:44:32 PM
 #3

This fee for initial launch. Later when 1 NXT is worth a lot we can set it lower.
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November 30, 2013, 05:51:09 PM
Last edit: November 30, 2013, 07:43:32 PM by xibeijan
 #4

Maybe you could make it dynamic using a retargeting mechanism.   The network would adjust the cost of adding an asset so that the number of new assets added per day (a.k.a., bloat) is bounded.

This would allow the network to bound/guarantee the maximum amount of bloat allowed over a time period.  Also, it would help increase the amount of NXT in circulation, which would incentivise mining.

The more people are interested in posting assets, the more posting an asset costs.  If there is less demand, then posting an asset gets cheaper.

Or maybe it could also be bound to the value or activity of the asset (class).

Notable projects 2019: Semux, Dero, Wagerr
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November 30, 2013, 06:02:37 PM
 #5

100 min, 1000 max
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December 05, 2013, 04:47:38 PM
 #6

Looks like 1000 NXT is the winner.
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December 05, 2013, 05:16:37 PM
 #7

your title said exchange/asset, but the poll just said asset...surely everyone is not proposing a 1000 fee for an exchange fee? 

That 1000 NXT asset issuance fee seems very excessive, and may cause the feature to not be used frequently (except for very high dollar items, especially if NXT takes off in the future like is hoped).  So the real question is, I think, what kind of assets do we expect to be used here?
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December 05, 2013, 05:24:33 PM
 #8

your title said exchange/asset, but the poll just said asset...surely everyone is not proposing a 1000 fee for an exchange fee? 

That 1000 NXT asset issuance fee seems very excessive, and may cause the feature to not be used frequently (except for very high dollar items, especially if NXT takes off in the future like is hoped).  So the real question is, I think, what kind of assets do we expect to be used here?

Sorry, the title should be read as "Nxt's Decentralized Exchange (Asset issuance fee)".

1000 NXT only in the beginning. Later this can be changed.

Any financial asset.
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December 05, 2013, 06:21:25 PM
 #9

your title said exchange/asset, but the poll just said asset...surely everyone is not proposing a 1000 fee for an exchange fee? 

That 1000 NXT asset issuance fee seems very excessive, and may cause the feature to not be used frequently (except for very high dollar items, especially if NXT takes off in the future like is hoped).  So the real question is, I think, what kind of assets do we expect to be used here?

Sorry, the title should be read as "Nxt's Decentralized Exchange (Asset issuance fee)".

1000 NXT only in the beginning. Later this can be changed.

Any financial asset.

Is is just me, or would changing something of that nature be considered "less de-centralization"?
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December 05, 2013, 06:36:42 PM
 #10

your title said exchange/asset, but the poll just said asset...surely everyone is not proposing a 1000 fee for an exchange fee? 

That 1000 NXT asset issuance fee seems very excessive, and may cause the feature to not be used frequently (except for very high dollar items, especially if NXT takes off in the future like is hoped).  So the real question is, I think, what kind of assets do we expect to be used here?

Sorry, the title should be read as "Nxt's Decentralized Exchange (Asset issuance fee)".

1000 NXT only in the beginning. Later this can be changed.

Any financial asset.

Is is just me, or would changing something of that nature be considered "less de-centralization"?

Sort-of, Bitcoin does this all the time,. Whenever a new version comes out that changes the transaction fee protocol or what not, you vote on it by downloading that client or not.
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