Exchange Fee And Fee Distribution

Exchange Fee

uint public constant INVERSE_BASIS_POINT = 10000;
uint public exchangeFeeRate = 0;

The exchange fee rate is predefined in the protocol. Users can't specify this in their orders. Once an order is taken by someone, the exchange fee will be deducted automatically.

exchangeFeeAmount = exchangePrice * exchangeFeeRate / INVERSE_BASIS_POINT

Initially, the exchangeFeeRate will be set to zero. Later, we will import governance mechanism to modify the exchange fee rate.

Fee Distribution

Order Maker Relayer Benefit

uint public constant INVERSE_BASIS_POINT = 10000;
uint public makerRelayerFeeShare = 8000;

Order maker relayers are the tools which facilitate users to make buy/sell orders on the protocol. These tools can specify their own addresses to gain the benefit.

orderMakerRelayerBenefitAmount = exchangeFeeAmount * makerRelayerFeeShare / INVERSE_BASIS_POINT

Order Taker Relayer Benefit

uint public constant INVERSE_BASIS_POINT = 10000;
uint public takerRelayerFeeShare = 1500;

Order taker relayers are the tools which facilitate users to take buy/sell orders on the protocol. These tools can specify their own addresses to gain the benefit.

orderTakerRelayerBenefitAmount = exchangeFeeAmount * takerRelayerFeeShare / INVERSE_BASIS_POINT

Protocol Fund

uint public constant INVERSE_BASIS_POINT = 10000;
uint public protocolFeeShare = 500;
address public protocolFeeRecipient;

The protocolFeeRecipient is an address owned by the protocol developer team. They can gain benefit from the exchange fee.

protocolBenefitAmount = exchangeFeeAmount * protocolFeeShare / INVERSE_BASIS_POINT

Governance

uint public exchangeFeeRate = 0;
uint public makerRelayerFeeShare = 8000;
uint public takerRelayerFeeShare = 1500;
uint public protocolFeeShare = 500;

The above parameters in the protocol will be modified by on-chain governance.