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RE: BSIP-020 Draft - "Introducing profit-sharing/dividends to Bitshares (UIA only)" - Input would be massively appreciated!

in #bitshares7 years ago (edited)

The problems of EBAs and max coin supply can be covered simply by requiring the dividends to exist before they are paid out.

Good point, I could add this as a per-requisite to the distribution of a dividend.

The problem of decimal places does not exist, due to the way amounts are handled internally. Payouts are always rounded (down) according to the number of decimals configured for the asset. Micro-payouts are rounded to zero.

That's good to know, so think it's safe to entirely remove the sections regarding the decimal places?

Coin-age and market-making incentives require statistics that we (currently) don't have, so you should leave them out of the proposal.

I agree regarding market-making incentives (because it's largely a last minute addition & just a topic of discussion rather than a core proposal), however coin-age is featured in both BSIP-019 and this BSIP, without it how would we prevent users from buying immediately before the scheduled dividend then selling immediately after?

Would you propose that I create an additional BSIP specifically for tracking the 'coin-age' of BTS assets then reference said BSIP from within these two BSIPs?


Edit: Ok, writing up a draft coin-age BSIP since it's referenced by two BSIPs thus far.

Double edit: Perhaps an alternative idea to coin-age could be taking a random date within the time period set for the snapshot, then performing the sharedrop at a later date so as to encourage holding the assets throughout the month, though you could potentially hold the assets for the majority of the month and not be eligible for a dividend because you missed the snapshot..

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If coin-age is essential to both, and avoids the gaming/timing problem, then it would seem to merit its adoption. Although it is possible that its technical implementation might either be tricky and/or computationally expensive. However, it merits its own elaboration.

without it how would we prevent users from buying immediately before the scheduled dividend then selling immediately after?

I wouldn't even try to prevent that. Happens all the time in traditional stock markets. A well-functioning market will take the sharedrop into account during price discovery.

It'd be great to offer the option though, since we want long term asset holders (at least for MPA) and we want to discourage 'yield-harvesting' that similarly troubled 'socialized-yield'.

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