Bargaining Protocol
This methodology is still being updated and implemented
The main transaction type on the network is customer paying for data feeds. There are two types of data feeds transactions.
Subscriptions
Pay per Call
Data providers can setup a subscription this is subject to the feed providers decision. However, for most feeds, customer will generally be on a pay per call model. The pay per call model allows light users of the protocol to keep their costs low, while power users are able to take advantage of the speed and throughput of the system.
A baseline for establishing an initial value for a data request may be to use the maximum number of calls a smart contract can make.
On Algorand, this would be about once every 3 seconds. That would equate to about 20 Calls per minute, 1200 calls per hour and 28,800 calls per day 864,000 per month
GoraNetwork will kick off the protocol with a fixed price of .002 per API call in GORA value at launch, once the product launches, it switches to a dynamic pricing model. The goal is to continually update pricing until an equilibrium is found.
Consumer fee model
The basic model consists of Node runners/Validators declaring their minimum fee for answering a request. It is possible that the market (i.e. consumers paying vs node runners/validators fee) is not efficient at the beginning where the optimal price is still finding itself. There is also an issue when it comes to volatility - consumers may pay 1 GORA for a request at one point in time but 0.001/10 in another time point (values declared here are extreme but mentioned to demonstrate a point). One way of overcoming this is to set a fixed fee at the beginning for all data requests and create a smoothing model whereby the next fee a consumer pays will be an averaged amount based on historical GORA prices for those data requests. This allows for more predictable fees in GORA from a consumer's perspective, provides an early discount on data requests while the rewards model is active which may attract a large base of consumers and helps node runners/validators to easily set a price.
A more detailed and comprehensive consumer fee model will be shown as we continue to work with customer, node runners and data provider partners.
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