Fees and new rebate program #1111
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cdummett
reviewed
Sep 26, 2024
| The amount charged for this fee is set by a network parameter. | ||
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| ### Buyback fee | ||
| The buyback fee is collected from takers and is used to buy governance tokens on a spot market via regular auctions. If there is no relevant spot market, and the fee is set to a value higher than 0, the accrued fee payments are transferred to the [network treasury](../assets/accounts.md#network-treasury-accounts). |
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| The buyback fee is collected from takers and is used to buy governance tokens on a spot market via regular auctions. If there is no relevant spot market, and the fee is set to a value higher than 0, the accrued fee payments are transferred to the [network treasury](../assets/accounts.md#network-treasury-accounts). | |
| The buyback fee is collected from takers and is used to buy specific tokens on a spot market through automated purchase programs. |
The bit about relevant spot markets is not true, if there are no programs active the funds will just sit in the buyback account. They can always be transferred later through govenrance.
| @@ -45,7 +45,10 @@ To end an existing program early, set your proposal up with the exact same param | |||
| | ----------- | ----------- | ----------- | | |||
| | `benefitTiers` | List of values defining the discount factors for the program | Holds the details of each tier of discounts, listed below. Maximum of <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxBenefitTiers" hideName={true}/> tiers | | |||
| | `minimumRunningNotionalTakerVolume` | The notional volume of aggressive trades that a trader is required to have across the aggregation window, to access the discount in this tier | Integer greater than or equal to 1 | | |||
| | `volumeDiscountFactor` | Proportion of each trader's fees to be discounted, will be converted to a percentage | Must be greater than or equal to 0 and less than / equal to <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxVolumeDiscountFactor" hideName={true}/> | | |||
| | `makerVolumeDiscountFactor` | Proportion of each trader's maker fees to be discounted, will be converted to a percentage | Must be greater than or equal to 0 and less than / equal to <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxVolumeDiscountFactor" hideName={true}/> | | |||
| | `lpVolumeDiscountFactor` | Proportion of each trader's liquidity fees to be discounted, will be converted to a percentage | Must be greater than or equal to 0 and less than / equal to <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxVolumeDiscountFactor" hideName={true}/> | | |||
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Needs to be liquidity rather than LP but also see comment above re structure.
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| | `lpVolumeDiscountFactor` | Proportion of each trader's liquidity fees to be discounted, will be converted to a percentage | Must be greater than or equal to 0 and less than / equal to <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxVolumeDiscountFactor" hideName={true}/> | | |
| | `liquidityDiscountFactor` | Proportion of each trader's liquidity fees to be discounted, will be converted to a percentage | Must be greater than or equal to 0 and less than / equal to <NetworkParameter frontMatter={frontMatter} param="volumeDiscountProgram.maxVolumeDiscountFactor" hideName={true}/> | |
cdummett
approved these changes
Sep 30, 2024
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