[bisq-network/bisq] Should we use the custom withdrawal transaction fee value for DAO governance transaction mining fees? (#5269)

Chris Beams notifications at github.com
Wed Mar 3 08:20:57 CET 2021


Currently, DAO governance transactions like submitting compensation requests and voting require the user to pay the mining fee rate reported by pricenodes.

With high fee rates, this poses a big disincentive to voting in particular.

I think we should prefer using the custom withdrawal fee rate (if it has been set). This would allow users to exercise their own judgement about how much they're willing to spend to ensure that their proposals and votes get in on time.

If we don't do this, then it's very likely that people will just stop voting because it's uneconomical to do so. That may have already started happening, I don't know.

For a concrete example, as I write this, I am trying to submit [my compensation request for Cycle 22](bisq-network/compensation#794). I am requesting only 42 BSQ there, equivalent to 50 USD. The current fee rate reported by my pricenode is 70 sat/byte, meaning that I would pay ~10 USD to submit a 50 USD proposal. That doesn't make any sense, so I'm now forced to periodically check my Bisq client to see when the fee rate drops to an acceptable level for me (which would be around 30 sat/byte). There is a real risk that I will just forget about this, and that my compensation request won't get submitted at all. And in any case, it represents annoying busy work for me that's not really worth the 50 bucks I'm trying to get in the first place. The situation will be even worse when it comes to voting, because that's pure cost; I won't directly "get anything back" for submitting my (probably expensive) vote.

I would much rather be able to just set my custom withdrawal fee at 30 sat/byte and submit my compensation request using that value. I have a high degree of confidence based on recent mempool dynamics that this value will be high enough to get my compensation request into a block before the submission phase deadline. Why not let contributors and stakeholders make that choice for themselves?

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