| sip | title | description | author | status | type | categroy | requires | created |
|---|---|---|---|---|---|---|---|---|
15 |
RWFDS-enabled FEE_QUANT introspection and adjustment |
RWFDS-enabled FEE_QUANT introspection and adjustment |
frank_the_tank |
Draft |
Standard |
Core |
SIP-10 |
2018-09-30 |
Signum shall provide a favourable transaction fee irrespective of its performance. A favourable price here is less than one USD-cent per payment/multi-out.
With implementation of the SIP-10 it will be possible for the chain to determine the value of Signa in USD and to set the cheapest slot Tx fee to one USD-cent.
This guarantees that Signa payments will be unrivalled in terms of price, regardless of the value development of Signa payments, which will enable Signa to establish itself as a global payment network.
With introduction of SIP-10 we could automated calculate the current maximal min-fee in relation to the Signa USD value.
So at the moment we have a fee of 0.00735 Signa (FEE_QUANT) which is less than one USD-cent.
The chain would calculate from the last 360 blocks (= 1 day), the average exchange-rate Signa/USD.
If 0.00735 Signa would be more value than one USD-cent we should adjust the min fee to the equivalent of max one USD-cent. With a RWFDS, the wallet could do so automatically.
if (trade-rate * 0.01 < 0.00735 Signa)
then FEE_QUANT = round(trade-rate * 0.01)
FEE_QUANT can be rounded to a 8 decimal places precision
This is a hard forking change, thus breaks compatibility with old fully-validating node. It should not be deployed without widespread consensus.
Copyright and related rights waived via CC0.