SCCP 24: Setting initial differential fee levels Source

AuthorSpreek
Discussions-To<https://discordapp.com/invite/AEdUHzt>
StatusImplemented
Created2020-06-04
Requires SIP-56

Simple Summary

Per SIP-56, each synth can now have its own fee levels. In this SCCP, we set initial fee levels based on which category a synth belongs to.

Abstract

Old fees: 30 bps (0.3%) for all synths

New fees:

  • Forex synths: 5bps (0.05%)
  • Commodity synths: 5bps (0.05%)
  • Equity synths: 5bps (0.05%)
  • Crypto synths: 30bps (0.3%)
  • Inverse crypto synths: 30bps (0.3%)

Motivation

Fees chosen by vote in discord. Crypto synths were deemed to be riskier/less efficient as well as having relatively high fees on other exchanges. We chose to lower fees on forex/commodity/equities synths in recognition of the lower spreads/fees in those markets and in hopes of spurring more adoption/trading volume on those synths.

Copyright and related rights waived via CC0.