NNS motion proposal: variable fees to prevent community destruction

NNS motion proposal: In a bear market or flash crash, increase off chain and out-bound ICP transfer gas fees. We, small fishes need a way to defend our investment against big price movers. Dfinity should understand the importance of protecting a relatively small community that is not growing as fast as necessary. This measure will encourage other small investors to join. Main goal, and how to:

Goal: Prevent unfair community destruction and with it prevent the failure of the Internet Computer:

How to:

  1. Increase off chain outbound ICP transfer gas fees proportional to the percentage of price reduction.
  2. This increment should be sufficient to deter unfair price manipulation by big whales
  3. All gas fees will be burned
  4. This mechanism should disappear in a few years as soon as we reach a critical mass of small investors and big whales (seed investors) are all fully unlocked
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In a bear market or flash crash, increase off chain and out-bound ICP transfer gas fees.

I’m not sure I understand this part but, you want this proposal to only be active during a “bear market or flash crash”? So the proposal is inactive during a bullish market?

Increase off chain outbound ICP transfer gas fees proportional to the percentage of price reduction

  1. I don’t see this as a deterrent for selling.
  2. The transactions aren’t off chain, they’re just being sent to an exchange’s canister. This proposal would affect anyone sending ICP negatively from what I understand.

tl;dr - I believe low fees are good for all on the IC! A large stakeholder doesn’t care if they have to pay a 0.005 cent fee or a $500 fee to move their coins.

Yes, the mechanism would be disabled under bull market, range market or even reasonable bear market. It would only activate when the price has decreased below threshold during the last period having thresholds for 1,2 4,… 12,24, 48 hous

Fees increment would be multiplicative not additive, so the bigger is the expected negative effect the bigger is the multiplicative factor in the fees. Yes, it would affect everyone,

I meant: No, it would not affect buyers (in bound transfers)