Fees and Spreads
Current Fees:
Cryptos: 3 basis points opening & 3 basis point closing (charged at opening)
Fees are discounted for frontends via Profit Sharing Model
Market Makers ( Liquidity Providers (Hedgers)) pay 0 spread.
Users can use $SYMM tokens to reduce their Fees. Using $SYMM as a Fee token (similar to Binance $BNB)
Trading fees will be 100% distributed to staked SYMM.
SYMMIO platform fee will be adjusted based on market share, always striving to offer the most competitive rates.
Example
When global SYMMIO daily trading volumes are 100m, platform fees will be reduced by one basis point
when reaching 500m in global daily volume; platform fees will be reduced by one basis point
The long-term strategy is to reduce fees constantly while capturing more market share.
Please also note the SYMMIO platform fees paid are not static and are decreased if a user/hedger/frontend holds SYMM.
Hedger spread
Each hedger can have unique spread already included in the quoted prices, as they can quote any price. They can set their spreads and fees, which are factored into the price you see on the platform. This introduces an element of competition among hedgers, ultimately benefiting the end user. more info about Hedger pricing can be found in the Liquidity Providers (Hedgers) sections.
Frontend Fees
Frontend providers also have the ability to reduce the fees they pay to $SYMM holders and therefore earn themselfs Trading Fees via our Profit Sharing Model, thus creating a competitive and flexible environment. This means that the overall fee a user pays can vary depending on the front end they use, providing a range of options for users with different needs.
Please note frontends also compete with each other, potentially influencing their SYMM holdings and, subsequently, the platform fees.
A Dynamic and Competitive Fee Structure
The SYMMIO fee structure is dynamic and competitive. As hedgers and frontends compete, we anticipate that this will foster healthy competition, leading to better user offerings.
While fees may vary, the ultimate goal is to create a platform that offers users the best possible trading conditions. Platform, hedger, and frontend fees contribute to this objective by creating a diversified ecosystem where each participant plays a crucial role.
For more detailed and frontend-specific fee structures, we recommend checking the information provided by each frontend.
We hope this guide provides clarity on our fee structure. Please feel free to contact us if you have any further queries.
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