How much shoud asset creation cost?

Core Development
#1

Currently asset creation costs 1 waves (~ $5). This fee ensures that nobody will create too many assets he don’t actually need, but still it’s affordable for anyone to create an asset or several ones. Waves is a platform for people to create their assets (tokens), so this is important.

Waves users in average create 40 assets, so 40 ways goes to miners and leasers daily.

Also, new assets and airdrops is useful thing to spam now. For 1 waves one can create new asset with links to scam sites in name or description, and send it to users’ wallets.

So the questions is: How much should asset creation cost?

If we increase fee, let’s say to 5 or 10 waves, it maybe not that attractive for new users to create new assets. Still it maybe profitable for spammers. But on other hand miner’s and leasers may get more fees and we’ll have less needless assets in blockchain.

What’s your opinion? Please write fee value you would set for asset creation and you arguments.

3 Likes
#2

I think we can temporarily increase the asset creation untill the spam issue has been resolved (with voting or another solution). Make it 10 Waves or so untill then. If the project is legit 10 Waves is still not much.

You can lower the asset creation fee to 1 Wave again at a later stage. I’m not sure if it will make much of a difference because as long as people fall for this scam the amount of Waves taken bij scammers will mostly surpass the costs they make for creating assets.

In the long run you could make asset creation 30 Waves (random number). 5 Waves for the miners and 25 Waves locked in a smart contract. Once the community voted the token is not a scam 25 Waves will be returned to you. Just an idea.

5 Likes
#3

Make it 10 or more Waves need to attract serious customers. …

No serious client want to run a project on a chain riddled with spam,scam and jokers.

People pay 1000’s of dollars for a good website name so why not INVEST in a good coin/name.

scrub the chain of all the jokers…pay them back the fee if needed and start acting like a grownup serious chain.

Act on the slogan A Brave New World… get rid of junk and create something durable and sustainable for investors, project developers and the TEC enviroment.

2 Likes
#4

Minimum of 10 waves for now. If your token is good, then 10 waves should be a small fee to pay.

1 Like
#5

Think also the fee of token creation can go up at this moment considering projects who really want to do serious business does not have problems to pay the fee for token creation, and it shall potential reduce the spam/scam tokens. The cons are imo, if waves gains more adoption what potential shall reflect in price (let’s say $50/waves) it can be to expensive for the small businesses to create an token on the wavesplatform.

#6

I think that token creation cost must be >> MassTransfer tx fee (for N=10000 for example). Because if you are just want to have a fun you will not going to sent mass transactions and will not pay significant fees to miners.
So I vote for 5x of the MassTxFee for N10000 = 25 Waves.
If Waves price will grow in the future you will be forced to decrease MassTXFee from 50000*N to much lower.

#7

No it is silly to create barriers for using the platform. Asset creation is fine at 1 WAVES it should be cheap as possible.

The issue isn’t controlling spam but controlling how assets are viewed. There should be better user interfaces overlaying display of Assets. So user can decide how new asset deposits are shown for example it should be similar to email with whitelisting addresses for those happy to get tokens from and have a spam filter for all the others.

This is most practical solution and won’t cause friction in adopting the platform.

2 Likes
#8

I quote my opinion from other topics:

I think that increasing the price would not attract serious customers. It is more important to give value to tokens. And a great problem is the absense of the ticker symbol, because it is not at all easy to convince people of the seriousness of your project without it.

Filters do a good job. I suggest to prevent the creation of coins that contain links in the name, to be more effective.

2 Likes
#9

In my opinion independent of the price the creation of new tokens should have a god KYC of the user to split the god users from spammers and create some basic rules for token creation. Decentralization is god but we have to have some rules otherwise this will be a mess.

#10

I think increasing asset-fees won’t stop scammers, they earn way more then 10 waves, so would still be in profit.

EDIT: increasing won’t hurt a lot tho I think

3 Likes
#11

I agree. The inability to link directly to exchange page for your token in waves wallet is really a problem.

Additionally the fact that there is no verification process also is a problem.

Increasing fees will only decrease users. It will not decrease spam or scams, as spammers have incentive to spend more because even if they are able to scam one person it will pay for everything.

I think that the current token creation price is good if you rectify those problems. If you don’t, then no price will be too high. This will drive away users, and developers.

Personally I like that I can make tokens between friends and use them instead of IOU’s or whatever other methods of accounting. I like that I can make gift cards for a small etsy store or other smb ecommerce and not have to charge them an arm and a leg to pay for this.

Personally I would like to see all fees go down on waves platform to increase the usability of the platform. Otherwise I might as well use ethereum.

#12

there is some good points on both sides. I must say now that the filter is implimented i have not received a notification of a spam airdrop again. not sure if this is a coincidence or not. i think we should give the new spam filter a chance to see if it is deterring scammers. if ppl dont see the scam tokens then they are less likely to click on a link and renders the scam pointless. but of course the mobile update is needed as well as the explorer update to hide scam. posting a warning about a scam transaction is not really atractive either. so perhaps have a seperate tab in explorer to view suspected scams and not show them in main feed. if this is not working then we can explore the increasing of asset creation costs.

1 Like
#13

More then raise the price i would forbid cresting tokens name with a link.

1 Like
#14

I think it’s not possible to permanently remove them from the blockchain technically but I think filtering is also not enough. Check your wallet’s asset on wavesexplorer and you will lose your sight between 50-100 spam tokens. I think there should be a permanent hiding feature for such tokens.

Filter’s main goal is not about hiding spam tokens.

#15

Not have had any into TurtleNodeBot or deepred it’s bot?
That’s because we both implemented filters to filter out most spam assets.

#16

I think it should be 10 waves at least. Because 10 waves not to much for any project even just for own a token. But it can increase sirious profit for nodes. Nodes are really important for a platform like us. (I’m not a node, just leasers)

1 Like
#17

people aren’t just using tokens for projects but also using tokens for other things as well. If I want to create an iou token between friends then I don’t want to spend $30 to do so.

1 Like
#18

But should the network keep track of you and your friends ious for free, forever?

#19

Why for free? There are fees on transactions

#20

I thought there was a process of verifying tokens before?

Why did they remove it?