Switcheo Exchange, a Singapore-based decentralized exchange offering markets on the Neo, Ethereum, and EOS blockchains, has announced a negative trading fee system meant to encourage market-making on selected pairs. The program will be available to holders of Switcheo’s SWTH token, with trading rebates payable in SWTH.
Switcheo’s negative fee program is available to traders with a 30-day trading volume of over US $10,000 and at least 300,000 SWTH locked in the Switcheo Chest smart contract.
Rebates increase from a 0.05% maker trading fee rebate for those who meet the minimum requirements, up to a 0.4% maker trading fee rebate for users with 40,000,000 SWTH locked and US $2.5 million of 30-day trading volume.
Users must create a Switcheo Portfolio or a Switcheo Account to participate in the rebates. The rebates are awarded in the form of Switcheo’s SWTH token and can be traded or withdrawn after a six-month holding period.
Eligible pairs for Switcheo’s rebate program currently include its ETH/DAI, LINK/ETH, CEL/ETH, SNX/ETH, and MKR/ETH markets.
The program will run from February 19th, 2020, to June 30th, 2020.
Further information on Switcheo Exchange’s negative trading fee announcement can be viewed at the following link: