STAX Holders VIP Program and Withdrawal Fee Discounts
As the release of our DEX gets closer we wanted to share some details with you guys regarding the Holders VIP Program and Withdrawal Fee Discounts.
Withdrawal fees program
Holding a given amount of STAX based on a 30 days average will enable our users to benefits from those VIP tiers and save on withdrawal fees as shown below. This was super important for us in designing this, because we felt that VIP tier programs are not very fair for regular users on centralised exchanges
1. We want every users to have >0 STAX in their wallet, so $600 today would get you all the way to a VIP4 level
2. It’s not transparent on centralised exchanges who gets fee rebates or who got the top vip tiers — there could be insiders who get better rates, etc. Here, everything is onchain, so if one dont maintain the necessary average balance of STAX to reach a tier, one will not be able to get the top rebates. That if one are a high frequency trader, they also know how many other accounts have the same or better fee rebate tier as another, and can adjust their strategies accordingly. This is super super important for attracting the large volume to come over to StableXswap.
3. As always, these parameters are subject to change, but we welcome feedback and input from the community and hope to hear from you guys as we roll this out.
VIP 1 1000 STAX = 20% off withdrawal fees
VIP 2 2,500 STAX = 30% off withdrawal fees
VIP 3 5,000 STAX = 40% off withdrawal fees
VIP 4 10,000 STAX = 50% off withdrawal fees
VIP 5 50,000 STAX = 60% off withdrawal fees
VIP 6 100,000 STAX = 75% off withdrawal Fees
VIP 7 250,000 STAX = 88% off withdrawal fees
VIP 8 500,000 STAX = 100% off withdrawal fees
Why this withdrawal fees program?
Simply to incentivize users to stay as Liquidity providers in our new DEX pools, as too many people switching to chase the highest short term yields leads to unstable liquidity for our users. We specifically will structure this as a withdrawal fee, rather than a deposit fee (which is how some other projects do it), because someone who comes in and deposits for one year only pays the fee once, someone that hops in and out of pools 10 or 20 times would face the fee, unless they hold STAX and are a VIP tier that would give the 100% off fees!
Trading fees rebates
Then those tiers will enable our users to access to trading fees rebates:
VIP 4: 5% Fee Rebate
VIP 5: 10% Fee Rebate
VIP 6: 15% Fee Rebate
VIP 7: 20% Fee Rebate
VIP 8: 25% Fee Rebate
We will continue working on bringing the best positive user experience for traders and liquidity providers. Even though stable pairs lowers drastically impermanent losses we want to do more to attract capitals and making StableXswap the most secure and attractive platform on the Binance Smart Chain.
Let’s keep building STAX together!
Website | Telegram | Announcements | Twitter | Github
