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71 sats \ 3 replies \ @Undisciplined 14 Jul \ on: Predyx fees adjustment - feedback requested. oracle
I think it's fine to have that small of a fee on the total winnings, especially with it being lower than the sell fee.
Also, since you're currently running at a loss the higher buy fee makes sense. Ultimately, I think you want to be incentivizing people to park their sats with you (at least relatively).
The other suggestion I had a while ago was to do favorable rounding. There's no reason to carry around so many extra digits. When sales are calculated round down to the sat and when purchases are made round up.
I imagine you'll continue running at a loss for a bit, but you want to get to where you're at least making a profit on each additional transaction after the market's up. Then you can start working on strategies to recoup the subsidy. I discussed some on the pod last week.
Ultimately, I think you want to be incentivizing people to park their sats with you (at least relatively).
Yes I have that in the mind. We'll try to reduce it slowly as we gain more volume.
The other suggestion I had a while ago was to do favorable rounding. There's no reason to carry around so many extra digits. When sales are calculated round down to the sat and when purchases are made round up.
Yeah - there was some changes, earlier when we started - I think we were using native lnd wallets; where we were able to generate invoice with milisats(msat) precision. Then we switched to lnbits for wallet management - by default lnbits only generates invoices with sats precision (not msat) - since then we've also been loosing on the rounding. I really like ability to charge users with msat precision - that's the beauty of lightning. But if we can achieve that with lnbits, then we'll switch to favorable rounding. I'm in close touch with one of the core lnbits dev, hopefully he'll be able to shed some light on msat precison issue.
I'll re-listen to the podcast again. Thanks for all your support and feedback.
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I really like ability to charge users with msat precision
Whichever level of precision you like, just make sure you aren't rounding against yourself.
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yes for sure :)
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