QURAS and Token Fee Distribution

Image for post
Image for post

Whenever a token administrator issues tokens in the QURAS blockchain, fees incurred during the transactions of sending/receiving tokens are then distributed. Token administrators who generate tokens using the QURAS blockchain will receive fees their token users pay. One hundred percent of the fees those users pay will not go to token administrators (or token generators); the fees will be divided between token administrators and QURAS consensus nodes. The ratio of the fees paid to token administrators and QURAS consensus is designed to be adjusted automatically between approximately 6:4 and 8:2. When a transaction fee recorded in a block exceeds 10 QurasGas, the fee is converted to 6:4 and distributed to the token administrator and the QURAS consensus. In the case of 15 QurasGas -30 QurasGas, it is converted to 7:3. If less than 15 QurasGas, it is converted to 8:2. For more details, please refer to the following diagrams.

Image for post
Image for post
Image for post
Image for post
Image for post
Image for post

Functions that give token managers an opportunity to select Smart Contract transaction fees within a certain range and the idea behind it.

As explained earlier, the above design allows returning Smart Contract transaction fees to token managers who are issuers of these tokens. In general, Smart Contract transaction fees vary depending on each function. QURAS, on the other hand, shall give an option to determine a set value within a certain range. The reason behind it is that, if fees were set by QURAS, it means token managers’ opportunity to choose fees is being taken away. It is difficult to find an optimal solution to each project and community using a single approach.

That said, if a token manager sets a fee relatively high, it may be a demerit to users, but for the token manager would have a high return on fees, which allows to re-invest in his/her own token economy and return fees to high contributing users or other uses. As a precondition, it should be noted that there are people who are cooperative and simply want to support a project itself. It is also possible to set a fee relatively low within a certain range. In this case, the return to a token manager is low, but the usability for users increases and optimal value for each project and community can be set.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store