Flat fee¶
When a swap is traded on the DEX, a flat fee will is charged by the DEX that is fully covered by the swap taker.
Per default the flat fee is 0.001 Ether per trade on Ethereum and [TBD] Matic per trade on Polygon.
Fee discount¶
A swap taker can reduce or even bypass the fee entirely by owning NFT.org tokens ($NFT). The contract maintains a fee bypass low threshold felo and a fee bypass high threshold fehi.
If the taker owns less than felo $NFT tokens, the full flat fee will be charged.
If the taker owns equal to felo $NFT tokens, then they receive a 10% discount and have to pay only 90% of the flat fee.
If the taker owns more than felo and less than fehi $NFT tokens, then the discount scales linearly from 10% to 100%, respectively.
The following list shows examples for fee discounts based on the taker’s $NFT token balance:
full flat fee below a 10,000 $NFT token balance,
90% of flat fee at a 10,000 $NFT token balance,
80% of flat fee at a 20,000 $NFT token balance,
70% of flat fee at a 30,000 $NFT token balance,
60% of flat fee at a 40,000 $NFT token balance,
50% of flat fee at a 50,000 $NFT token balance,
40% of flat fee at a 60,000 $NFT token balance,
30% of flat fee at a 70,000 $NFT token balance,
20% of flat fee at a 80,000 $NFT token balance,
10% of flat fee at a 90,000 $NFT token balance,
no fee at a 100,000 or higher $NFT token balance.
The felo and fehi thresholds can be changed by the multisig account.
If the taker sends more Ether than was required as a fee, then the excess amount will be returned to the taker by booking a refund to their account on the DEX. The refund can be withdrawn using the pull function in the contract.
A user can inspect the available withdrawal balance using the contract’s pend function.
Paying the fee¶
The swap is paid by the swap taker, and the amount of Wei of Ether to be paid can be queried using the fees function in the contract. This function will inspect the balance of NFT.org tokens of the taker account and applies the discount accordingly.