2.5. Fee Backed Asset¶
Existing core features of the LocalCoin protocol are Market Pegged Assets (MPA) and issuer backed User Issued Assets (UIA). In this proposal, we introduce another type of asset: Fee Backed Assets (FBA).
Feed backed assets allow to propose and fund market based innovation by sharing a cut of future profits generated by this particular innovation with the people that helped fund it. Think of it as a Kickstarter for features. Hence, if people can profit from successful features in the form of fees then it can help the LocalCoin ecosystem to become more adaptable over time as it promotes innovation and can pay for its development.
If you have any features in mind that require new kind of transaction on the blockchain, you can code that feature and fund it with an FBA.
Feed Backed Assets have been proposed in BSIP-0007.