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Main => General Discussion => Topic started by: gn1 on December 04, 2015, 03:19:33 am

Title: Question about Market Fee for UIA/UIA Market
Post by: gn1 on December 04, 2015, 03:19:33 am
Suppose, I set the market fee for MyUIA/BTS market at 0.1%.

Let's say you set the market fee for YourUIA/BTS market at 0.3%.

When trading YourUIA/MyUIA (or MyUIA/YourUIA), what will the market fee for trading this market? Also, who gets to control the market fee?
Title: Re: Question about Market Fee for UIA/UIA Market
Post by: Tuck Fheman on December 04, 2015, 03:34:02 am
Quote from: funnybear on December 04, 2015, 03:19:33 am
Suppose, I set the market fee for MyUIA/BTS market at 0.1%.

Let's say you set the market fee for YourUIA/BTS market at 0.3%.

When trading YourUIA/MyUIA (or MyUIA/YourUIA), what will the market fee for trading this market? Also, who gets to control the market fee?

All I know is, if you set it to 50% you're going to piss someone off. ;)
Title: Re: Question about Market Fee for UIA/UIA Market
Post by: xeroc on December 04, 2015, 07:11:41 am
That actually is an excellent questions .. @bytemaster @theoretical could either of you both please carify?
Title: Re: Question about Market Fee for UIA/UIA Market
Post by: roadscape on December 04, 2015, 08:06:47 pm
Quote from: xeroc on December 04, 2015, 07:11:41 am
That actually is an excellent questions .. @bytemaster @theoretical could either of you both please carify?

Should have mentioned this in the mumble, it slipped my mind.. I was wondering the same thing
Title: Re: Question about Market Fee for UIA/UIA Market
Post by: bytemaster on December 04, 2015, 08:18:57 pm
You pay the fee upon receiving an asset.  One side will pay 0.3% the other will pay 0.1%. 
Title: Re: Question about Market Fee for UIA/UIA Market
Post by: gn1 on December 05, 2015, 02:33:45 am
Quote from: bytemaster on December 04, 2015, 08:18:57 pm
You pay the fee upon receiving an asset.  One side will pay 0.3% the other will pay 0.1%.

Ah, that sounds legit.

If I have MyUIA, and if want to trade it for YourUIA, I will pay a 0.3% fee from the receiving asset (YourUIA) because you are setting 0.3% market fee on your UIA.

If you have YourUIA, and if want to trade it for MyUIA, you will have to pay a 0.1% fee from the receiving asset (MyUIA) because I am setting 0.1% market fee on my UIA.

Thank you for the clarification.