Exchange fees

fees
matching-engine

(EC) #1

The matching engine collects fees based on the pairs traded. The more volume, the greater the proportion of fees collected on that pair that is then distributed to stakers. Given that USDC trading will not be available to European customers how will fees collected on USDC trading pairs be handed out?

Going forward, there are bound to be some markets that are not available in certain regions. In these cases how are fees from these markets distributed to stakers in restricted regions?


(FCC) #2

Great question!

Listing strictly != dividend payout
i.e. EU will receive USDC as dividends


(Trust Yourselves ) #3

So to clarify, those who Stake will receive revenue from fees collected on every traded coin on Nash, regardless if those coins will be traded in their jurisdiction?


(FCC) #4

@Trust_Yourselves yes, there is currently no planned ticker that would change it. If that turns out to not be the case in some future scenario we will communicate.


(CryptoUK1) #5

Good to know. When dividend choice becomes available, will EU users be able to select USDC? If it is indeed not possible for EU users to trade the token themselves, will it be possible for Nash to do the token conversion on their behalf?


(Trust Yourselves ) #6

Great to know. But after all, its everything that passes through the matching engine. So I guess it would be strange if this wasn’t the case :wink:


(EC) #7

Good to know, thanks for clarifying. This means that European customers would need to transfer these assets to another exchange e.g. USDC to Coinbase if they wanted to convert to fiat. As @CryptoUK1 said, maybe in future there will be the option to do a conversion in the cases where a particular asset cannot be paid out to stakers in a particular jurisdiction.


(Nick) #8

@elliptic.curve maybe the fiat gateway partners will accept USDC… No need for Coinbase :innocent:


(CryptoUK1) #9

@Nick Yeah would expect so although would imagine fees via the partners will be pretty significant compared to Coinbase Pro where trade fees are 0% for makers


(Peter) #10

Great to know. Thanks Fabio.

So all the fees collected will be forcefed back through the matching engine to convert back to USDC when dividends are claimed?

Also, will there be a dust conversion function similar to binance? I believe this would add even more to the reported volume as it would also go through the matching engine.


(EC) #11

I think Fabio means that EU users will get USDC as part of the dividends that are distributed, not that all fees will be converted to USDC automatically.
+1 for the dust conversion idea!


(CryptoUK1) #12

Yeah. Hoping to find out if that will be possible…would be ideal to not have to move dividends to other exchanges to trade to USDC/other stablecoins.

The dividend token choice conversion is done around the time of fee collection I believe. For EU users wanting to guarantee their dividends and protect from any token value drop by using USDC, Nash doing the conversion on our behalf is the only way it would work


(Nick) #13

Yes please :blush:


(Trust Yourselves ) #14

can you please explain what you mean by the dust conversion?


(Alex Forward) #15

(Peter) #16

Yeah I believe I understood that part.

So with EU users, their dividends will need to be converted into USDC. This means that the trading fees collected in multiple tokens will need to be fed back into the matching engine for the conversion, resulting in more trade volume. I understand that this will be automatic for EU residents only.

Please correct me if I’m wrong, anyone.

On that note, it would be great if the function for selecting the token you wish to receive dividends in, would be available at launch. Things like this and a potential dust sweep function will compound the volume and thus dividends.


(EC) #17

No there’s no automatic conversion at all for anyone. Maybe in the future we will be able to select what we receive dividends in, but this doesn’t exist right now


(Neogasrpx) #18

Would be great if we could opt for dividends to be payed out in NEX with an auto-restake function


(Nick) #19

Fabio means that not having the USDC market for EU users doesn’t mean that the fees collected from non-EU users’ trades in USDC isn’t collected and distributed to all users. So, if you’re a EU user you’ll still get the USDC portions of the fees. Even though you can’t trade them.