Refund agent reimbursement leak

[refund-agent2]

Abstract

I'm having considerable loses because of the way reimbursements work, which I didn't notice until now. This reimbursement would put me into small positive balance since I started as Refund Agent in Cycle 20.

Reimbursement leak due to BSQ generation cost

Every reimbursement request needs 100 sat for every BSQ generated. As the amount to be reimbursed is equal to the refunds, this "tax" puts me into losses for most cycles, unless the compensation amount is higher than the cost. That only happens eventually, when there's many cases for small amounts.
For example, at this cycle, I had to spend 0.0762 BTC to get the 76256 BSQ to be reimbursed. The compensation was 1446.61 BSQ, which is about 0.044 BTC; I lost around 0.03 BTC.

BSQ generation cost has side effects relevant to the DAO and traders which should be discussed further, but I'll leave my opinion here:

1. @burningman3 might have been keeping non-BSQ funds after burning BSQ: I would not find that wrong, as the most Bisq critical role just ask for 1000USD as compensation, but this point needs to be clarified and reflected.
2. Reimbursed traders are not being completely reimbursed: they should, as well as me, be reimbursed completely, correctly calculating the reimbursements to compensate this cost. The difference is that I have to ask to be retroactively reimbursed, while I think they shouldn't. I consider it as an arbitration fee, which won't be charged anymore.
3. Contributors might be already considering the cost in their compensation request: they just get a little bit less from their request so I don't think it's necessary to specify this cost.

Reimbursement request

Since I started as RA, total amount of BSQ reimbursed was 339372.52 (see table below).

For every BSQ created 100 sats are spent. At 0.00003000 BSQ/BTC, that's a 100/3000=3.3% BSQ generation cost.
Every extra BSQ that I ask generates another 3.3% cost, so: 0.033+0.033²+0.033³+0.033⁴=0.034126

To get the total Total BSQ generated and * generation cost* is multiplied:
339372.52*0.0341 = 11581.43 BSQ which equals to 0.347 BTC.

I'll ask as a reimbursement for these costs 11581.43BSQ.

Cycle	BSQ reimbursement
21	43413.34
22	35468.71
23	16963.21
24	35387.23
25	0
26	46291.69
27	9518.87
28	36054.07
29	25904.41
30	14114.99
31	76256
Total BSQ	339372.52

[chimp1984]

I would not use the negatively coloured term tax as it is not a tax which collects someone but is a cost for utilizing the Bitcoin blockchain which also is not lost but gets converted back to BTC when the BSQ gets burned. If paid in trade fee we use it as miner fee and therefor reducing the required miner fee, so the BSQ owner who burned BSQ benefits directly from getting the initial "cost" back.
As you mentioned above we should make it more explicit that the burningman collects back those BTC and at larger amounts of 10000 BSQ it can be a substantial amount we should track more transparentaly.

When the DAO started the Bitcoin price was much lower so that factor of the "printing cost" was much lower as well. Unfortunately the BSQ price did not follow the BTC and stayed rather stable in the 0.5-2 USD range, so the printing cost in % of the issues BSQ have increased. I think the currently 3.3% is still not a problem and people have to factor them into their compensation requests. For reimbursement requests I consider it fair to add those 3.3% so that the requester does not carry the burden of it. It should get burned anyway afterwards and thus flows via BM back to the DAO.

[refund-agent2]

I have edited the first post to substitute tax for costs.

[refund-agent2]

txid is:
3082f0ac2198f4955ee10e833388c8e866288149cec7bec8bad834ceddb746d2

[refund-agent2]

Reimbursement was approved on cycle 32.