Ola guys,
I have the feeling we are missing out on fees becouse of the timed limits (afaik the trading limit on each pool currently is a daily limit of 15% of the total pool).
Especially in times of higher volatility i believe this limits our fees in an unessecary manner, while not giving maximum security.
If we would be able to change the limit to say 10% per hour, this would still give us reaction time in case of a hack or an exploit, while allowing way more trading.
@Andell: Am I correct? & How much work would it be to set an hourly limit?
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Yeah its just a vote, but the only problem we have is the sICX/ICX. I could also be abord on a slighlt tighter limit but lower timeframe. But we could also consider setting a limit on the sICX/ICX pool. So that when it goes below for example 800k it has no limit. Then we would still protect it when the volume on it is very low
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I think the best way would be a dynamic fee, where the fee rises when the pool size shrinks, and lowers when the pool grows, stabilizing around current levels when the pool size is reasonably constant.
That would Optimise fees while at the same time protect against hackers and exploits
Thinking about this some more… considering the importance of the icx/sicx queue for arbitrage purposes… lower fees could actually help the bnUSD peg. So that’s another incentive to lower fees in times of low volatility
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I feel like this would not really solve the issue, and as you mention below is probably bad for the peg. A hacker would not care about fees and just dump all straight into that pool diluting the hack between whoever that reward is given to. All extra reward could be given to daofund but still, not sure if it would be good for bnUSD peg.
Better limits and lower fee might be the way to go.
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Definitely agree we need to do something about the ICX-queue. I think I lean toward adding a threshold in which the protection turns off. 800k sounds good like @Andell suggested.
It doesn’t necessarily solve the problem when the total liquidity is just above 800k. I think we could do better, but open to this short-term solution for time’s sake.