[bisq-network/bisq] Replace Burning Man with Burning Woman (#5418)

[MwithM]

Burning Man has one function, which is buy and burn BSQ using BTC received from 2 different sources: fees and delayed payouts. Burning Woman would take fees, but not delayed payouts.
Dealing with trading fees it's not a minor issue, and this discussion made me understand better how atomic transactions would work (which would improve a lot BSQ liquidity), but anyway, I wanted to point that this would still leave a big single point of failure, which is dealing with BTC from delayed payouts.

Forcing traders to use BSQ could be achived by using a very high trading fee in BTC or allowing that only to buy BSQ. The best feature BSQ achieves is distributing revenue in a decentralized way and completely removing a SPOF, but this feature it's underused.

> Arbitrator
> Third party that adjudicates trades that go beyond mediation. They receive the trader's locked funds and pay as they see fit.

Arbitrator, as a middleman between DAO and traders, has a right to trade with BM the BSQ from DAO reimbursements with priority while BSQ volume is low, but doesn't receive any locked funds. Once delayed payouts are published, this funds should be considered as destroyed (or donated to the DAO) by the trader who publishes it.

The AMM (Automatic Market Maker) would not remove the arbitrator but the burningman. Traders could still claim to the DAO or the arbitrator to be refunded in BSQ or BTC when funds were sent to the donation address because they disagree with their peer (or is inactive). Funds sent to donation address wouldn't be controlled by an anonymous agent, but a smart contract buying BSQ from the AMM and destroying these BSQ.

-- 
You are receiving this because you are subscribed to this thread.
Reply to this email directly or view it on GitHub:
https://github.com/bisq-network/bisq/discussions/5418#discussioncomment-627210
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.bisq.network/pipermail/bisq-github/attachments/20210418/09160662/attachment.htm>