Fee to commission

Web3 Staking
1

I propose a language change from fee to commission. I believe one4all validator came up with the idea.

Fee has a negative connotation as if we’re penalizing the delegators, whereas commission says we are providing a service.

Thoughts?

Jim

9 Likes
2

We’re certainly in favor of this proposal as banks have fees that are often associated with negative things so I believe many delegators feel the same towards the word on our staking portal and applications.

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3

Wonderful idea. Sounds like a simple change as well

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4

That sounds better, I agree.

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5

I like this idea.

Another thing I was wondering that may help the confusion over fees is for the expected returns for both the average and previous epoch that appear on staking.harmony.one should show the net returns ( after fee ). Then do away with the fee % column. In my opinion this causes so many misconceptions. People assume a 11% return and 5% fee will equal 6% returns - as we all know this is completely incorrect.

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Commission sounds “White Collar”, stable, responsible (of the service provider’s character and knowledge), and injects the understanding that you [the service recipient] are getting “This, this, and that” from me [the service provider], in exchange for “some of those” (i.e. ONE tokens).

The word “fee” reminds me of two things that happen to be amongst my least favorite things; banks, and government agencies. I have zero desire to be confused with either.

I would support a vote in favor of a language change as mentioned by the topic author.

“Music moves the soul while literature excites the mind.”
Both, by the way, are forms of communication and therefore are a language of sorts. Language is unimaginably powerful.

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7

I can see how this would happen. Not to a… person that likes math, but to… non-math people… maybe. Furthermore, a mathematician may come along and wonder if we know how to do the math properly (in written form not numerical). So the confusion is possible and more likely, even probable. One thing I try to remember when writing is that I, the writer, must ensure that the reader, once having finished reading the document, should have fewer questions, not more, than before they began. This super important when time and/or space for explanations are limited.

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8

Please write a HIP proposal in the Governance section on this change. Thanks.

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9

Done Leo,

Thanks,

Jim

1 Like
10

You took the words right off of my keyboard!

3 Likes