BSQ tokenomics etc. key numbers, where best to look?

sprks · May 17, 2019, 10:07am

Hi guys, can anyone direct me to the key numbers ref. the BSQ distribution ? how many have been issued to contributors, how many are in the bank to fund dev, what is total cap etc and how the tokens work within DAO etc.

Also I understand that a target income for the DAO ref. trades on Bisq is 0.4% of volume.

i was looking for the econ paper of post or discussion. If anyone can help.
many thanks!

alexej996 · May 17, 2019, 10:33am

You can find the numbers in the frist, facts & figures, screen in the app under DAO. There you will find how many BSQ were issued, burned and etc.

BSQ issuance isn’t limited, so there can always be more BSQ printed to fund the devs. The price of those BSQ is another topic.

sprks · May 17, 2019, 4:38pm

thanks, yep I saw this info… so:
3,657,480 BSQ in genesis block (were all these distributed to the key founders?)
69,318.63 BSQ for ‘compensation requests’ distributed in 16 transactions (16 people we assume)
-1,398.49 burnt in fees.

so are the 3,725,398.85 BSQ ‘available’ all in the distributed BSQ as compensation etc.?
And BSQ can be issued in addition, as work is done/ proposals approved and realized etc ?
Is the new BSQ issued expected to be greater than the BSQ burnt in fees ?
I assume this info is in a paper or github page somewhere… would be good to know where if anyone has the info.
thanks!

Homard · May 17, 2019, 4:50pm

To the 1st phase(s) contributors afaik (~150 peoples).

No. I think it’s 16 months.
See the slack channel #compensation , which links to a recap excel file.
See also https://docs.bisq.network/

sprks · May 17, 2019, 5:18pm

great, many thanks

sprks · May 17, 2019, 10:27pm

FYI I think this is he best resource I’ve found so far:

github.com

bisq-network/bisq-docs/blob/master/dao/phase-zero.adoc#Part-I

= Phase Zero: A Plan for Bootstrapping the Bisq DAO
:sectanchors:
:stylesdir: ../css
:docinfodir: ../

Chris Beams <chris@beams.io>; Manfred Karrer <mk@nucleo.io>
2017-10-19

[abstract]
*Abstract.* We present an overview of Bisq, a peer-to-peer exchange network designed for secure, private and censorship-resistant trading of bitcoin for national currencies and other cryptocurrencies. We demonstrate that while Bisq already provides users with a high degree of security and privacy through decentralized architecture and other protections, the project cannot achieve the degree of censorship resistance it requires without first decentralizing its funding and governance. We review the Bisq DAO and BSQ token that have been designed to achieve this goal and we analyze the risks inherent to rolling them out. We conclude by presenting the _Phase Zero_ plan for a pre-release period in which each aspect of the Bisq DAO is operationalized in an incremental and risk-mitigating fashion. Compensation, voting, bonding and other DAO use cases commence immediately as high-trust operations in a testing environment and iterate toward trust-minimized operations in production. BSQ stake is tracked on Bitcoin testnet during Phase Zero such that BSQ may be earned but not traded or spent. Completion of Phase Zero is marked by a BSQ genesis distribution on Bitcoin mainnet and a Bisq application release supporting BSQ trading and other key DAO use cases.


= Introduction

Bisq's peer-to-peer bitcoin exchange network has been in operation for 18 months now. Exchange volumes have grown along the way, and now is the time for Bisq's community of contributors to grow along with them. We have designed the Bisq DAO, a _decentralized autonomous organization_,footnote:[Wikipedia, "Decentralized autonomous organization", https://en.wikipedia.org/wiki/Decentralized_autonomous_organization, October 2017] to support that growth by decentralizing the funding and governance aspects of the project. This document is written to provide a clear understanding of both Bisq and the Bisq DAO, and then to lay out a specific plan for bootstrapping the Bisq DAO into operation.

*Audience.* This document is intended primarily for current and future Bisq contributors, but has been written to be understood by anyone familiar with the Bitcoin ecosystem. If you are interested in working to improve Bisq, or simply interested in where the project is going, read on.

*Organization.* This document is divided into two major parts followed by several appendices:

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Homard · May 18, 2019, 5:58am

From the website side, it’s at: https://docs.bisq.network/#archive

sprks · May 28, 2019, 11:21pm

Great info there.
i see the stated 2,500,000 BSQ Genesis issuance seems to later have been modified to : 3,657,480.00 BSQ - do we know why this was changed ?

With now 3,724,593.36 BSQ currently ‘in circulation’ … 70K BSQ issued for comp requests so far…

sprks · May 28, 2019, 11:23pm

Anyone had thoughts on equations for possible / probable future value of 1 BSQ? assuming say , a uniform increase in BTC/USD to keep that a more constant value…

huey · May 29, 2019, 12:34am

I’ve come to Bisq way past its inception so I’m not an expert in its history. But from my understanding the 2.5m BSQ were distributed among 144 Bisq contributors for their work between 2014 and 2017. The amount on top of that is the BSQ minted between 2017 and now.

1 BSQ = 100 sats so 1 BSQ is at least worth bitcoin price/1 000 000. That’s the only axiom that we can start with. I have yet to think about Bisq economics deeply, but my first thoughts are that there will be a strong deflationary pressure in its first stages as the Compensation Requests will outweigh the BSQ burnt + BSQ locked in bonds.

m52go · May 29, 2019, 11:05pm

@sprks you can see an explanation of the genesis distribution here:

https://docs.bisq.network/dao-user-reference.html#bsq-genesis-distribution

alexej996 · May 30, 2019, 12:13pm

I would say it will likely stay at 1 USD or more for a while.
Contributors asked for compensation with this value in mind so most are unwilling to sell it below.

For now it seems that when the demand is low, the spread is the only thing that changes. The price usually keeps above 1 USD no matter what, simply due to limited supply.

ManfredKarrer · May 30, 2019, 12:55pm

All BSQ from the genesis was distributed to 192 contributors.

https://docs.google.com/spreadsheets/d/1mtAHxNyu5i5WM--ZvJjDSx0az-mlIYYnxtJ4hPpQKg4

It is the sum of the genesis distribution + BSQ issues for compensations - burned fee.

Yes every cycle (roughly 1 month) copngributors make requests for compensations and stakeholder vote on it if it should be accepted or not. In the past we issued about 60 000 BSQ/ months in average.

In the first months we discounted the trade fee when paid in BSQ to about 90% to the normal fee, so atm the revenue from trade fee in BSQ is very low. This will likely be adjusted over the next months. There is a proposal in discussion and BSQ stakeholders can vote on changing the BTC and BSQ fees to adjust that. General goal is to have an averge trade fee of 0.4% (buyer+seller).

So for the next months it can be assumed that issues BSQ is larger than BSQ burned.

2.5M BSQ was planned initially for past contributors for a launch we planned 1.5 years ago with a reduced version of the DAO (no voting, no issuance). We decided then to not launch before the DAO was developed with its full feature set. In the meantime BSQ has been issued to contributors who worked in the past 1.5 years so that got added to teh 2.5M and resulted in the amount of the genesis distribution.

sprks · May 30, 2019, 5:15pm

great, many thanks!

sprks · May 30, 2019, 5:17pm

thank you, much appreciated.