How Leeqwid’s Transaction-Fee Mining System Works

What is Transaction Fee Mining?

Basically, most of the exchanges provide two different order type for its traders, “taker” and “maker”. Where taker means you will use the last coin price created by the market, and maker means you can use or input the price (that you want to buy/sell) as you wish. You can set the price lower than the current buying or higher than selling price (market price). A few exchanges give 0% trading fee for “maker”, the rest still applied a fee but may be lower than the taker’s fee.

The main concept of the Transaction Fee Mining system is giving back the trader’s transactions fee in the form of exchange’s native token (mostly). The formula for calculating how many tokens each trader will get from Transaction Fee Mining system itself will depend on the exchange’s policy.

How does it work on Leeqwid?

Leeqwid has a flat 0.1% trading fee across every market available. However, with the Transaction Fee Mining system, reimbursement of a trading fee will be given back to our traders in the form of SEA token — the exchange’s native token.

The reimbursement system will be calculated with this formula.

Personal’s trans-fee-mining income:

Total of personal transaction fee on the day means the sum of transactions fee generated by one person as a trader on the day in the form of USDT.

Total of the platform’s transactions fee income on the day means the sum of transactions fee generated by all Leeqwid’s user on the day in the form of USDT.

e.g. today, the sum of transactions fee generated by all Leeqwid’s user is 1.000 USDT. We call it “Total of the platform’s transactions fee income on the day”.

On the same day, one person (trader) been generating 100 USDT personal transactions fee, this one what we called as “Total of personal transactions fee on the day”. That means this person will be rewarded with 10% of SEA token that will be released on the day, with the following calculations:

Last but not least, you will get 20% of your referral’s transaction-fee mining result. You can refer your friends and colleagues to trade on Leeqwid by login to the exchange and visit the referral page where you can get your unique referral code that you can share to people.