Description
Rationale
Getting BSQ to pay trading fees has very little friction since BSQ swaps were implemented.
Bisq needs to increase the use of BSQ. Currentlly, only around 30% of trading fees come from BSQ. BSQ is essential for a decentralized distribution of Bisq's revenue.
From January comptroller's data, Bisq collected 0.66% of total trade revenue, which seems ok but not very high. Current BTC trading fee is 0.8%.
The main goal of this proposal is to increase the rate of trading fees paid in BSQ vs paid in BTC to a 50-60% of total volume in the next 3 cycles. If traders keep using BTC to pay their trading fees, total trade revenue will be higher than current 0.66%.
I don't think there is a big risk of traders stop using Bisq due to high trading fees, since swapping BSQ to pay their trading fees is a simple and cheap option.
Proposal
I propose to increase BTC trading fees to 1% total.
Maker trading fee paid in BTC per 1 BTC traded: 0.0012 (0.12%)
Taker trading fee paid in BTC per 1 BTC traded: 0.0088 (0.88%)
This is how the table at the wiki would look like:
Trading fees per 1 BTC
BTC | BSQ | |
---|---|---|
Maker | 0,0012 | 16,8 |
Taker | 0,0088 | 123,2 |
For BSQ, current price is considered: 43000 USD/BTC and 30D WMA is 1.23 USD/BTC.
Paying trading fees in BSQ would suppose a 60% discount, instead of the current 50% as BSQ trading fees would remain at 0.4%.