UPDATE: A new simplified FSA is now in place on COSS. The same great 50% fee split you know, but no more dust, just ETH, COS and DAI. Read more about the simplified FSA (sFSA).
COSS.io is now paying out the 50% fee split allocation (FSA) on a daily basis. Previously, the FSA had been paid to users every Monday, but it will now be distributed every weekday.
The Fee Split Allocation (FSA) is the 50% share of all exchange fees distributed to COSS token holders. The distribution is performed by an automated script that typically completes around 16:00 Singapore time. This script calculates what fees taken from the exchange should be paid to COSS token holders, depending on the number of tokens held and the total number of COSS tokens included in the snapshot.
Although the move to daily FSA was announced in the previous medium. Today’s FSA came as a surprise, without additional announcement. Today’s distribution was quickly reported in the COSS Telegram group, where a number of users confirmed they had also received an additional FSA distribution for today. Your FSA wallet on COSS.io now has the new heading ‘Your Estimated Daily FSA (USD)’.
New Daily FSA Structure
The FSA will only be distributed on weekdays, so Saturday and Sunday’s fee split will be included in Monday’s FSA. This means a larger FSA on a Monday.
The estimated dollar values are now shown for the day, so they will display less than what we have grown used too. For example, 10,000 COSS today earned FSA worth $0.42.
Saturday and Sunday will show the USD value from Friday, until Monday’s FSA takes place. As Monday will be three day’s worth of FSA, it will be around three times the value.
Is Daily FSA a Good Thing?
In the announcement post for daily FSA, I mentioned a few reasons why daily FSA will have a positive impact on the exchange. Below is a quick recap of the main points.
The estimated dollar value given on the FSA page for the distribution will be more accurate. As the majority of the FSA is paid in CFT, if the price fluctuated, the FSA estimated dollar value became inaccurate. Now that FSA is daily, this number will be up-to-date more often, so fewer people will be left puzzled when the numbers don’t add up.
No weekly dumps of COSS and CFT. With FSA being distributed every Monday, the COSS token value would fluctuate a lot after distribution. Then people would look to sell or reinvest their CFT received in the FSA, causing the price to drop. With distribution daily, this will spread this effect out over the week, minimising its impact on the prices of these tokens.
Another benefit of a daily FSA distribution is a psychological one. Something that pays out a real value, everyday, sounds more appealing to investors. There is less of an apparent risk if the FSA can be collected whenever the user desires.
FSA Update Series Will Continue
The FSA update series will still continue, but will analyse the FSA on a weekly basis. Each Monday, I will summarise the data created throughout the week from the tokens given in the FSA and use the snapshot figures that were released on the Monday.
Do You Prefer Daily FSA?
Do you think that moving to a daily FSA payout is a good idea? Do you think it’s a bad idea? Does moving to a daily payout affect how you will use the exchange?
Share your ideas in the comments section below.