Introducing Maker Taker Model: Zero Fee trading + 0.20% extra bonus

Namaste Tribe! We’ve been running ZERO FEE Trading on WazirX for a month now. This has helped us quickly increase our volumes despite the bear market.

We believe it’s now time for us to take the next step in our fee structure. We’re introducing an innovative Maker Taker model where Makers earn a BONUS! This will help us bring in more volumes to WazirX and enhance the trading experience further for our tribe.

What is Maker Taker fee structure?

Starting 6PM, April 10, 2018 we’ll be distributing trading bonus OR charging trading fees as follows:

Maker Bonus: 0.20% (You Earn) + Zero Trading Fees

Taker Fees: 0.25% (You Pay)

YES! Makers not only get ZERO FEE trading, they get an EXTRA 0.20% on every trade!

Why reward market makers?

Since we’re a new exchange, we need market makers to help us build liquidity. And if the market makers are going to help us build liquidity, we want to reward them for their efforts.

How do you become a Maker?

If your order (buy or sell) enters the market order book so that someone else has to match it, then you are a Maker.

To simplify this even further, we have introduced the Order Book indicator last week. If you see the GREEN or RED dot on the order book for your orders, then you’re a potential Maker. You earn Maker bonus when such an order executes.

Who is a Taker?

If your order (buy or sell) matches an existing order in the order book, then you are a Taker.

Everything explained with an example

Gauri and Aamir decide to trade on WazirX.

Let’s assume the current price of 1 BTC is Rs. 5,10,000.

Calculations for Gauri

Gauri places a buy order for 2 BTC at Rs. 5,08,000. However, since the current price is Rs. 5,10,000 Gauri’s order does not immediately execute and instead goes into the order book. Gauri is now a Maker.

Base price is Rs. 5,08,000 X 2 = Rs. 10,16,000

Trade fees (0%) = Rs. 0

GST (18% on fees) = Rs. 0

Maker Bonus (0.20%) = 10,16,000 X 0.002 = Rs. 2,032

Gauri would get 2 BTC + Rs. 2,032 extra in this trade

Calculations for Aamir

Aamir decided to sell 2 BTC at Rs. 5,08,000. Since there’s Gauri’s order of Rs. 5,08,000, Aamir’s order immediately executes. In this case Aamir would be a taker and would pay 0.25% as trading fees.

Base price is 5,08,000 X 2 = Rs. 10,16,000

Trade fees (0.25%) = Rs. 2540

GST(18% on fees) = 2,540 X 0.18 = Rs. 457.2

Aamir pays total = 10,16,000 + 2,540 + 457.2 = Rs. 10,18,997.2

You can see from the above example that Gauri makes an extra Rs. 2,032 for being a Maker. At the same time, we’ve made sure that Aamir has to pay fees that is affordable since it’s very low at 0.25% only. It’s a win-win to be both, Maker and Taker on WazirX.

The Maker bonus will be valid for a limited time period. We’ll be tweaking this based on the outcome every week. So start taking advantage of the Maker bonus right away. We’ll always announce changes in fee structure with an intimation of minimum 24 hours. Be rest assured, the fees we charge won’t go above 0.25%. That’s our commitment to you.

Jai Hind!

Nischal Shetty, CEO — WazirX. On a mission to involve every Indian in the blockchain revolution! Follow me on Twitter

WazirX

Building India's Most Trusted Bitcoin Cryptocurrency…

WazirX Bitcoin Exchange

Written by

Building India’s most trusted cryptocurrency exchange. Twitter: https://twitter.com/wazirxindia WazirX website: https://wazirx.com

WazirX

WazirX

Building India's Most Trusted Bitcoin Cryptocurrency Exchange

WazirX Bitcoin Exchange

Written by

Building India’s most trusted cryptocurrency exchange. Twitter: https://twitter.com/wazirxindia WazirX website: https://wazirx.com

WazirX

WazirX

Building India's Most Trusted Bitcoin Cryptocurrency Exchange

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