Frequently asked questions: How does the 50% trading fee discount work for NTS holders?

One of the most frequent questions we get from users is about how the 50% trading fee discount will work.

Initially we had discussed limiting the 50% discount to those who use NTS as the intermediary currency when trading between non-paired altcoins.

The White Paper did not make this idea explicit however.

“If a user wants to trade TRON for ZCash for example, they will first need to exchange their TRON for one of the three key cryptocurrencies, and then use that intermediary currency to buy ZCash,” the Nauticus White Paper explains. “Users will buy the Nauticus Coin as the intermediary currency as it provides a 50 percent reduction in trading fees over the other two options. Thus, it will be the preferred medium of exchange.”

We don’t believe the concept was widely understood by NTS backers, and after taking user feedback to the idea, we’ve decided to make the trading fee discount much simpler and fairer.

All users will be able to access 50 percent discount on trading fees simply by paying fees with their NTS balance.

This brings NTS into line with how the discount works with the Binance Coin — although with the BNB discount due to drop to 25% this month, NTS will offer a much greater discount.

We have also come up with a way to further refine the original concept — and we are in the process of developing additional incentives for using NTS coin pairs.

Stay tuned for more announcements on the subject.