I think that adding the referral system to the trading fees is a good idea, so the referral can earn money when one of their referred users trades. However, in the realworld only maybe 1-2% of all users are active traders, the rest are casual users.
Please tell me, if the transfer fee is set to next to zero - what is the incentive for a wallet/payment provider to refer new users?
Casual users (98% of the userbase) are only interested in using their wallet to transfer money around, much like Paypal. They use their wallet to pay Merchants.
Under the new system, it's almost impossible to sustain a wallet/payment provider business. Only 2% of all referred users by this wallet provider are traders, the rest will only use the "money transfer" option.
In my opinion, we still need a sizeable transfer fees, not nescessary 20 cents, but it should be at least 5-10 cents so a wallet provider has an incentive to run its business.
Also, under the current system, people have an incentive to buy a lifetime upgrade, and the referral gets parts of this too. The fee must be high enough that the user is still incentivized to buy their LT upgrade.
How will we get main stream users when there's no incentive to run a wallet/payment service for the common users? I'm not talking about traders.