[bisq-network/proposals] Fee model for Asset listing (#42)

Manfred Karrer notifications at github.com
Thu Nov 8 01:49:49 UTC 2018


Here is a more detailed version of the proposal:

## Overview

We want to introduce a small fee for listing an asset. As we have seen from our past assets >90% never gets traded and the effort it causes on our side is not worth the value added to Bisq.
The fee in BSQ will be initially very low but can be changed via DAO voting.

After listing has started there is a trial period where the asset is not checked for trading activity. After that it must have been traded at least 3 times with a volume of at least 0.001 BTC. Those paramets can be changed as well by voting. If an asset gets delisted due inactivity it will be hidden from the UI. If anyone wants to get the asset re-listed he can pay a BSQ fee. Once paid the asset get re-activated for another trial period and then the activity check starts again. It can be de-listed again if not traded in the trial period. The trial period lenght is defined by the amount of fee paid. Initially 1 BSQ/day (144 blocks) is set. So with a 90 BSQ fee payment the trail period is 3 months. The trial period is also the time frame used to look back for trading activity. E.g. 3 months trial means the first 3 months there is no activity check, and after that there have to at least 3 trades and a volume of 0.001 BTC reached. 

In case an asset gets removed by a remove asset proposal which got accepted at the DAO voting it will be delisted forever and cannot be added again. 

Once the delisting got triggered trade activity is not checked anymore and only fee payment for re-listing will trigger that an asset becomes visible again.

With the initial parmeters the costs for re-listing is higher then the costs for making a self trade to avoid delisting, but we prefer to not disrupt the current unrestricted model too much by requiring a big amount of trades as well we don't want to set the re-listing fee too low. We also want to avoid too much discussion and friction, so we prefer to be on the very moderate side.
The fees are intentionally set so low so that it should not be an argument that a coin project cannot afford to pay that (they also have to pay for web hosting,...). Once listed they can proof by activity that the asset is relevant, if not there is no reason to keep it listed. Even with a short trial period they can succeed to motivate their community to trade on Bisq. 

### Technical impelmentation 
The 'Remove asset  proposal' is already implemented as well as the code for checking for trade activity. What is missing is the fee payment and the check for the fee payment as well as the automated de-listing and option for re-listing by paying a fee again.
We will introduce 5 new DAO parameters for managing the fee listing:
- ASSET_LISTING_FEE ("1") 	      // 1 BSQ per 144 blocks/1 day trial phase. E..g 90 BSQ for 3 months
- ASSET_MIN_VOLUME("0.001")  // 0.001 BTC
- ASSET_MIN_TRADES(3)	      // 3 trades

We will add a new feature for burning BSQ and adding a hash to the opReturn to that tx. There will be a new tx type for that (PROOF_OF_BURN_TX). The hash is created from a marker string + the ticker symbol ("listingFeeFor-"+tickerSymbol).

There will be a whitelist for already added coins which will be exlcuded from that check. Thought those can be delsited duw inactivity as well and then can be re-listed by fee payment. Only the initial listing fee is not required. Default trial period for those whitlisted assets is 4 months.

Once an asset is added to a new release they need to pay the listing fee, only then the asset will be visible and from that moment on the asset will start it's trial period.
Once an asset gets delisted due inactivity anyonce can make another payment for re-listing the asset. As soon the tx is confirmed the asset is visible again and another trial period starts.
If there is any fee payment in between it will be added to the last fee payment and can extend the trial period. 

Here are the possible states:
- State 1: Not listed
- State 2: Added to code base and released. Asset is not visible
- State 3: Added to code base and released and listing fee paid. Asset is visible. Amount of fee determines trial and check period. Now trial period starts.
- State 4: After we exceed trial period we check if the asset was traded sufficeintly. If so, nothing happen. If not the asset gets delisted.
- State 5: If anyone pays the re-listing fee the asset get listed again with a new trial and check period derived from the fee payment.
- State 6: If the asset gets an accepted 'Remove asset proposal" voting it will be removed forever independent of the fee payments or trade activity.

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https://github.com/bisq-network/proposals/issues/42#issuecomment-436844072
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