From a trader’s perspective, I think the 0.1% flat opening and closing fees are not competitive compared to other CEX’s and DEX’s. I think a much better system would be to incentivize traders based on the volume they trade over a certain time period. For example, the fees could look something like this:
I think implementing a system like this could promote more growth and volume and entice more new traders to join the platform. Additionally, I think an interesting idea may be to have owning a GBC NFT bump you up a fee tier. DyDx does this with their Hedgies NFT and I think it could be good for the GMX ecosystem.
Thank you for the suggestion, I think such a system makes sense.
Since the referral program just launched and some fees will be distributed to referrers and as discounts for traders, and the esGMX emissions for GLP will be decreasing soon, it might be good to implement this after the changes so that we can observe the impact of each change.
Would love to add a base of amount of staked GMX owned as well (maybe MP points percentage as well) + the amount of volumes to be the criteria, thought. But if people don’t like this, I am open for discussions.
It’s beneficial for the trader as well, because the more GMX they own, the more fees they get the more they trade. See as it some extra rebates for GMX supportive traders.
Absolutely support this idea. Long tern viability is in getting more traders on the system. For that the cost, speed of execution, UI and Slippage should be better or comparable to major cex’s.
Keep the trader incentives separate from investor incentives. Mixing them makes it difficult to understand benefits.
Referral program has the potential to bump up the number.