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Is it possible to setup a Gateway with IOU fees based on time?  Example, the fee of The IOU is 1% per year.  If the IOU is owned for 6 months then sold, the fee would .5%.  This would be the case on calculating the fee on days too. Every time the IOU is sold, the fee would be the total time owned.  Would this be within the Transfer fee and the transaction time stamp of each IOU coin when it is sold?

 

 

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Time based IOUs, similar to LETs systems have been put forward as a ripple use case for years now. In fact the original RipplePay network closely mirrored the idea.

I know interest and revers interest (demurrage) were part of ripple, not sure if they are still supported though. @JoelKatz or @nikb might have the answer to that.

 

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10 hours ago, Mercury said:

Time based IOUs, similar to LETs systems have been put forward as a ripple use case for years now. In fact the original RipplePay network closely mirrored the idea.

I know interest and revers interest (demurrage) were part of ripple, not sure if they are still supported though. @JoelKatz or @nikb might have the answer to that.

 

Yea, basically like a management fee similar to etf's or managed money.  

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Clients can support demurrage by decreasing the presented value based on the ledger date. The gateway can support demurrage by adjusting the ratio of amounts on the ledger to amounts off the ledger at issue/redeem time based on the date. Supporting such a thing on the ledger is extremely complicated. We considered it and couldn't find a scheme that was reasonable to implement.

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