No trading fees update 5 May 2020

[Kelsomatic]

What are the details on the no trading fees update today?

Some members in the Telegram group were wondering since this is part of how nodes currently earn.

[Gold]

Good question! Liquidity providers also earn fees.

[ning]

hey - thanks for the question.

node owners don’t earn trading fees, they earn transaction fees (on top of block rewards). the removal of trading fees will not affect their earnings.

@andrey will be able to share more about plans for the Incognito DEX going forward.

[Kelsomatic]

Were those trading fees going to pdex liquidity pool stakers before? Does this mean the only source of interest being provided to the pdex liquidity pool is coming from the DAO Percentage earned from each block?

[andrey]

Re plans for the Incognito DEX, it may be helpful to refer to this proposal thread:

Launch pDEX v2 & hit 650k In trading volume.

@ELDAD thanks for the feedback on how to craft our messaging and positioning! i guess the point here is not to be better than other exchanges, because each exchange offers a different set of benefits to users. so if you want large liquidity, for now, go to binance or coinbase. if you want decentralization & trading ethereum assets, go to kyber and uniswap. these are fantastic products. incognito dex is designed to offer another choice. it is designed from ground up as something entirely diffe…

Essentially, we are trying to build a different type of exchange, and to do that, we need to experiment with different structures. If you check the proposal above, you will see that we will try to onboard more projects this month to list their tokens on the Incognito DEX. This brings them several advantages in comparison to centralized exchanges or other DEXs.

Zero trading fees is one of the options. There is also discussion around the idea of allowing liquidity providers to vote on trading fees for their pools. As always, feel free to open up a wider discussion on this. More opinions, more ideas, are always better.

@Kelsomatic

Were those trading fees going to pdex liquidity pool stakers before? Does this mean the only source of interest being provided to the pdex liquidity pool is coming from the DAO Percentage earned from each block?

For the past period yes. Trading fees went to liquidity providers, but those were significantly low. For the current liquidity rewards initiative which pays interest on certain pairs, yes, those are paid out of the DAO fund.

[Bakedshibe]

Are there any issues with this update? Some of us are having deposits not show up.