neonewstoday.com
Switcheo Exchange, a Singapore-based decentralized exchange offering markets on the Neo, Ethereum, and EOS blockchains, has announced a negative trading fee system meant to encourage market-making on selected pairs. The program will be available to holders of Switcheo’s SWTH token, with trading rebates payable in SWTH.
Negative Fees
Switcheo’s negative fee program is available to traders with a 30-day trading volume of over US $10,000 and at least 300,000 SWTH locked in the Switcheo Chest smart contract.
Rebates increase from a 0.05% maker trading fee rebate for those who meet the minimum requirements, up to a 0.4% maker trading fee rebate for users with 40,000,000 SWTH locked and US $2.5 million of 30-day trading volume.
Users must create a Switcheo Portfolio or a Switcheo Account to participate in the rebates. The rebates are awarded in the form of Switcheo’s SWTH token and can be traded or withdrawn after a six-month holding period.
Eligible pairs for Switcheo’s rebate program currently include its ETH/DAI, LINK/ETH, CEL/ETH, SNX/ETH, and MKR/ETH markets.
The program will run from February 19th, 2020, to June 30th, 2020.
Further information on Switcheo Exchange’s negative trading fee announcement can be viewed at the following link:
https://blog.switcheo.network/trade-with-negative-fees-on-switcheo/