Update bsip-0086.md clarity, destination of funds to committee

bsip-0086.md

@@ -1,5 +1,5 @@
     BSIP: 0086
-    Title: Share market fees to the network
+    Title: Share Market Fees with the BitShares Committee
     Author: Abit More <https://github.com/abitmore>
     Status: Approved
     Type: Protocol
@@ -10,26 +10,27 @@
 # Abstract
 
 This BSIP proposes a protocol change: Every time a trade is executed (limit order is filled) and
-if there are market fees generated, a portion of the market fees goes to the network.
+if there are market fees generated, a portion of the market fees goes to the `committee-account`.
 
-Example: The network percent of market fees is set to 50%, and 0.2% of trading volume is the set as market fee. 
-Then 0.1% of trading volume goes to the network.
+Example: The committee percent of market fees is set to 30%, and 0.2% of trading volume is the set as market fee. 
+Then 0.06% of trading volume goes to the `committee-account`.
 
 # Motivation
 
-The network needs more tools to generate income to support its development.
+The BitShares Committee needs more tools to generate income to support development.
 
 # Rationale
 
-A major activity in the network is trading assets. The asset owners make
-profits in the form of market trading fees. Currently, the main tools for the
-network to generate income from asset trading activities are order creation
-fee and order cancellation fee. It seems reasonable that the asset owners
-share some profits (a part of market fees) to the network to support its
-development.
+A major activity in the **network** is trading assets. The asset owners make
+profits in the form of market trading fees. 
 
-The cut of market fees can go to committee-account's vesting balances.
-As a supporting measure, committee-account should be exempted from
+Currently, the main tools for the **network** to generate income from asset 
+trading activities are order flat fill order fee and flat order cancellation fee. 
+
+It seems reasonable that the asset owners share some variable profits 
+(a part of market fees) to the `committee-account`, to support development.
+
+As a supporting measure, `committee-account` should be exempted from
 white-listing restrictions, so that it is able to claim the vesting balances
 and sell them for core token or other tokens to pay for development later.
 
@@ -44,42 +45,46 @@ the scheduled time, at the scheduled time and after the scheduled time.
 
 ## New global parameter
 
-Add a new global parameter `market_fee_network_percent` which can be updated
+Add a new global parameter `market_fee_committee_percent` which can be updated
 by the committee only after the protocol upgrade.
 Initial value of that parameter is `0%`.
 Valid range of that parameter is `[0%, 100%]`.
 
+UPDATE: limit `[0,100%]` to `[0,30%]` see: https://github.com/bitshares/bsips/pull/269
+
 ## When processing market fees
 
+The cut of market fees can go to `committee-account`'s vesting balances.
+
 After the protocol upgrade, when splitting a non-zero market fee, firstly
-split `amount * market_fee_network_percent` (round down) to committee-account,
-then process the remainder as before. The amount split to committee-account
+split `amount * market_fee_committee_percent` (round down) to `committee-account`,
+then process the remainder as before. The amount split to `committee-account`
 should go to the vesting balance object whose type is `market_fee_sharing`.
 
 ## When checking asset authorities
 
 After the protocol upgrade, when checking authorities (E.G. white-lists) of an
-asset on an account, if the account is committee-account, let it pass.
+asset on an account, if the account is `committee-account`, let it pass.
 
 # Discussion
 
 * Other than [the "coin-days as market fees" proposal](
  https://github.com/bitshares/bsips/issues/191) which applies
  a discount to market fees to benefit core token holders directly, this BSIP
- seeks for a mechanism to increase the network's income and benefit core token
+ seeks for a mechanism to increase the committee's income and benefit core token
  holders indirectly.
 
-* Adjusting the fee schedule and network percent in the referral program is
- another option to increase the network's income, and is probably sufficient
+* Adjusting the fee schedule and committee percent in the referral program is
+ another option to increase the committee's income, and is probably sufficient
  for funding development.
 
 * In the original design, the purpose of market fees is to reward asset
  issuers for their work (e.g. gateway providers, or businesses built around
  PMs), while operation fees (`limit_order_create/cancel` in particular) reward
- the network for performing its work. The separation of market/operation fees
+ the committee for performing its work. The separation of market/operation fees
  matches the separation of roles. Changing this may damage existing businesses.
  Thus this BSIP could be a bad idea from this perspective. Also note that the
- network can profit from market fees by setting them on committee-owned tokens.
+ committee can profit from market fees by setting them on committee-owned tokens.
 
 * This would be another motivation for businesses building on top of BitShares
  to get involved in the parameter governance process. The percentage can be
@@ -90,27 +95,27 @@ asset on an account, if the account is committee-account, let it pass.
  It is uncommon nowadays probably because it is less convenient or attractive
  for their customers.
 
-* Another strategy is to charge a network market fee globally, independent of
+* Another strategy is to charge a committe market fee globally, independent of
  what the asset owner decides. It essentially removes the option to not set
  a fee from asset owners, which kills some freedom and would hinder non-profit
  use of the platform.
 
-* It is possible that committee-account would accumulate a lot of tokens with no
+* It is possible that `committee-account` would accumulate a lot of tokens with no
  value and tokens which are unable or hard to be used to pay for development.
  It is a side effect. Hopefully there will be quite some usable tokens.
- The committee will have to do some work to manage the tokens anyway.
+ The Committee will have to do some work to manage the tokens anyway.
 
-* The committee will be accumulating tokens which could potentially be used or
+* The Committee will be accumulating tokens which could potentially be used or
  not used for any purpose. In other words, this BSIP as currently written does
- not stipulate how those tokens will or will not be used by the committee.
+ not stipulate how those tokens will or will not be used by the Committee.
 
 # Non-Technical Summary
 
-This BSIP adds a tool for the committee to impose a fee on market trading
+This BSIP adds a tool for the Committee to impose a fee on market trading
 fees for all assets which enabled market trading fee, thus it can increase income 
-for the network to support its development. It may 
-hinder businesses relying on market fees if the committee-decided fee is high.
-The committee may need some efforts to decide on an appropriate value of the parameter and manage the income.
+for the committee to support development. It may hinder businesses relying on Market 
+Fees if the committee decided fee is high. The committee may need some efforts to 
+decide on an appropriate value of the parameter and manage their income.
 
 # Copyright