'''Updating BSQ fees''' takes place every cycle to keep the BSQ [[trading fees]] at a 50% discount to BTC trading fees. The [[Compensation Maintainer]] takes the following steps to update BSQ trading fees. __TOC__ == Determine new BSQ fees == Three days before the end of proposal phase, the [[Compensation Maintainer]] shall: * Calculate BSQ trading fee discount [https://cryptpad.fr/sheet/#/2/sheet/view/khBDMTPxN9GkLPNYaLtyWFDmdXTnDygFeYZ--qngS1o/ on this spreadsheet] using the 30-day weighted average USD/BSQ price and live USD/BTC price at the time. ** If existing BSQ discount is under 40% or over 60%, calculate new BSQ trading fees to restore a 50% discount. ** Update spreadsheet with new proposed fees. If there is no need for an update, leave the "New Fees" section blank. == Submit DAO parameter proposals == Upon calculating the new BSQ fees, the [[Compensation Maintainer]] shall: * Create a new post on [https://github.com/bisq-network/proposals/ github proposals] with the title BSQ trading fee update for Cycle X indicating the new proposed trading fees and close the old post (or indicate in a comment at the already opened post if there will be no changes). * Submit DAO change parameter proposals for new BSQ trading fees and comment the corresponding TXIDs (if necessary). == Communicate changes == Once DAO results are available, the [[Compensation Maintainer]] shall: * Update the [[trading fees]] page with new BSQ trading fees. == Reference == Proposals [https://github.com/bisq-network/proposals/issues/173 #173] and [https://github.com/bisq-network/proposals/issues/365 #365] led to the development of this procedure. [[Category:Processes]]