Enhance the market competitiveness of FCoin Main Board to build a solid foundation for ecological expansion.
Resolution 1: Plan of Main Board A fee adjustment
The transaction fee of all trading pairs on Main Board A is adjusted to 0.
Resolution 2: Optimization and upgrading plan of Sorting Mining rules
Buy 1: allocate 1/4 of the Sorting Mining return amount in this term by the user's pending order amount proportion
Sell 1: allocate 1/4 of the Sorting Mining return amount in this term by the user's pending order amount proportion
Buy 2 to buy 11: these 10 different leveled pending orders will allocate 1/40 of the Sorting Mining return amount in this term by user's pending order amount proportion to each level;
Sell 2 to sell 11: these 10 different leveled pending orders will allocate 1/40 of the Sorting Mining return amount in this term by user's pending order amount proportion to each level;
Resolution 3: Adjustment of the mining quota allocation on Main Board A
Reduce the mining quota of each trading pair on Main Board A promptly, and increase the quota of Sorting Mining and Limit-order Mining.
The specific implementation time of the above resolutions shall be subject to the platform announcement.
Consensus Resolution: PASS
Support: 麻久熙, 鉴湖飞雨, 洪森, chanew程威, 周安, 巴菲特, 沈飞, 布局圣手, 杨益挺Frank, yuefeng
The following are the interpretations of the above resolutions by all members:
With the in-depth development of the blockchain industry, the spot market fee rate has gradually decreased until the trend of free, to attract liquidity and cultivate user habits, while the main revenue is from various financial derivatives tradings, public chains, and a new business model derived from traffic.
Support 1, Free on Main Board A. The current fee module is almost the same as free, so why not free directly to attract more frequent traders and makers.
Support 2, Adjust the order, let each level have its value, strengthen the near-end depth, and allocate effective funds more reasonably.
Support 3, reduce the mining quota of Main Board A as appropriate, because of the free-fee policy and more rewards of the near-end sorting, supporting the appropriate reduction of mining quota on Main Board A, assign more mining quota to the Sorting Mining, and a small amount of Limit-order Mining.
Finally, I hope that there will be a certain amount of space for the destruction mechanism during adjusting mechanisms and rules.
FT will focus on providing liquidity for various ecological projects, while the profits are provided by sub-ecology such as FMEX to reward ecology development.
麻久熙 supported the resolutions for the following reasons: From the short-term perspective, zero-fee on the exchange's Main Board will inevitably reduce the income, because Fcoin is already a public chain, and the biggest value of the public chain lies in the size of the community. Expanding the FT community and benefiting the users by free-fee policy, in line with the long-term interests of the public chain, it will allow our exchange to stand out during the competition. So I choose long-term interest compare with short-term interests, I support the resolution!
Referring to the development of traditional financial securities trading, the lower fee rate will continue to decline to attract more users, and future eco-business such as contract trading, derivatives, asset management, and margin business will feedback the FT community.
At present, the fee charged by the platform is only 1/ 100,000, which is very small. And a large amount of FT is allocated to Trading as Mining. Therefore by allocating the mining quota to Sorting Mining to increase the depth of the market, and FT will profit module in the future is like the Internet model we are familiar with, which is value-added service fees, such as FMEX, financial products, and leverage.
Support the free-fee on Main Board, because for the sustainable development of exchange, it is necessary to abandon the illusion of relying on transaction fees from spot trading while to attract traffic is the core of the current stage, whether it is quantitative trading team or individual investors, to create a full-fledged, active Main Board trading market, to provide protection for future margin trading and contract trading, because the leveraged loans and contract trading are the main sources of income.
The emergence of blockchain technology is to change existing financial efficiency. The free-fee for the Main Board trading will be the general trend. The revenue from other businesses or value-added services is in line with sustainable development.
A free fee-assisted mechanism allows more people to come into the industry, a revenue model in the later public chain can be expected.
Support Main Board A fee free mechanism and new sort mining mechanism. With the development of digital currency trading, the transaction will no longer be the main competitiveness. First, form the funnel principle, technical services and financial derivatives are the main direction based on future transactions, and there is also FT ecology.
FT Community Committee Secretariat
July 21, 2019