chore: 0.1% variable rate #11073
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chore: 0.1% variable rate #11073
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dckc
reviewed
Mar 3, 2025
Comment on lines
-522
to
+527
| const ContractFee = 152_000n; // see split above | ||
| t.is(((ContractFee - 60_000n) * 5n) / 10n, 46_000n); | ||
| const ContractFee = 32000n; // see split above | ||
| t.is(((ContractFee - 16_000n) * 5n) / 10n, 8_000n); | ||
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| const cases = [ | ||
| { dest: 'agoric1a', args: ['--fixedFees', '0.06'], rxd: '60000' }, | ||
| { dest: 'agoric1b', args: ['--feePortion', '0.5'], rxd: '46000' }, | ||
| { dest: 'agoric1a', args: ['--fixedFees', '0.016'], rxd: '16000' }, | ||
| { dest: 'agoric1b', args: ['--feePortion', '0.5'], rxd: '8000' }, |
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you asked about this one... yes, it looks right.
When the ContractFee from above goes down, there isn't as much in fees available to distribute, so these numbers have to be tweaked.
The --fixedFees choice is some arbitrary number below the ContractFee. Then the 2nd rxd is determined by half of what's left over.
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Cool thanks for explaining here
dckc
approved these changes
Mar 3, 2025
| @@ -28,7 +28,7 @@ const makeRatio = (numerator, numeratorBrand, denominator = 100n) => | |||
| */ | |||
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| /** | |||
| * Update feeConfig.variableRate to 0.5%, i.e. 5n/1000n | |||
| * Update feeConfig.variableRate to 0.1%, i.e. 1n/1000n | |||
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I wonder if we want to phrase this exactly as the request was made to us:
Suggested change
| * Update feeConfig.variableRate to 0.1%, i.e. 1n/1000n | |
| * Update feeConfig.variableRate to 10 basis points, i.e. 10n/10_000n |
or with a BASIS_POINTS constant, just:
Suggested change
| * Update feeConfig.variableRate to 0.1%, i.e. 1n/1000n | |
| * Update feeConfig.variableRate to 10 basis points |
probably not worth another ci spin
| @@ -38,7 +38,7 @@ const makeRatio = (numerator, numeratorBrand, denominator = 100n) => | |||
| const updateFeeConfig = ( | |||
| feeConfigPre, | |||
| usdcBrand, | |||
| variableRate = makeRatio(5n, usdcBrand, 1000n), | |||
| variableRate = makeRatio(1n, usdcBrand, 1000n), | |||
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this could be:
Suggested change
| variableRate = makeRatio(1n, usdcBrand, 1000n), | |
| variableRate = makeRatio(10n, usdcBrand, BASIS_POINTS), |
with
const BASIS_POINTS = 100n * 100n;or:
const PERCENT = 100n;
const BASIS_POINTS = PERCENT * 100n;above somewhere.
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Description
Changes fee from 0.5% to 0.1% per product request
Security / Scaling / Documentation Considerations
lowering the rate changes the incentives a bit: it encourages users while rewarding liquidity providers less on each tx
The fees and such should be discussed in the community governance thread.
Testing Considerations
Updates existing tests
Upgrade Considerations
None if part of the second FUSDC CE