What to do with Nimiq OASIS fees

The more OASIS is used, the more NIM is used: Every time someone transacts via OASIS a 1% fee applies for the use of the OASIS API. For at least the first 24 months from its official launch, the collected fees are used to buy NIM off the market, which then are held by the Nimiq Foundation to increase scarcity and for the future benefit of the project.

What to do with this FEE? Share your thoughts.

I think it’s important for some part of the fee to go to Nimiq holders as a way to incentivize spending, thus increasing the liquidity in the Nimiq ecosystem. I assume that more shops/projects/services will open up before launch of OASIS, or soon after. People follow money and if OASIS works as well as we think it will work, it will bring a lot of attention to Nimiq.

I think there are an infinite amount of options, here are just a few:

Holders only

1% redistributed to coin holders by % of their holdings

The Nimiq holders will be both rewarded and incentivized to spend the Nimiq that they receive, not only that but I believe that there will be a lot of goodwill from holders towards both the Nimiq developers, and OASIS. Furthermore, it becomes in their interest to promote it, it will be an organic referral system. Think of stimulus cheques and how they spur liquidity in the market, people see it as free money and often spend it as fast as they can.

I do believe there needs to be a way to stop NIM being bought prior to any redistribution, and then instantly dumped, perhaps this can be worked out by a time limit perhaps for NIM which hasn’t changed wallets in a month, a week, a day?

Or maybe with completely random times of redistribution? Maybe between a week or three months? Completely random so it doesn’t affect trading NIM - we don’t want price spikes/dumps every time redistribution’s are made.

There is a lot of potential here, we could even set up a way to have a crowdfunding addon to this redistribution, where the user has an opportunity to put 25% of the 1% into building the network and ecosystem, or let the time lock on it (a year) run out!

50/50 charity/holders

0.5% to the Nimiq charity
0.5% redistributed to coin holders by % of their holdings

Nimiq will be a force for good through the charity, making the world a better place whilst also getting recognition for the charity work it pursues. While the holders and network get the benefits listed above, maybe a little reduced in some areas.

The referral

1% to those who refer others to use OASIS (on whatever basis you choose)

OASIS will receive a lot more instant publicity and usage if this model is enacted, but it will also become quite spammy and might turn people off or represent OASIS as a little dodgy

Perhaps the best of all worlds

0.33333333333% to the Nimiq charity
0.33333333333% redistributed to coin holders by % of their holdings
0.33333333333% to those who refer others to use OASIS (on whatever basis you choose)

  • pretty rough but it’s a start