🔢Fees

Comprehend the fees of BitSwap and discover their advantages.

BitSwap has developed a fee structure that is transparent, accessible, and rewarding, catering to a wide range of users. Over time, changes to this fee system may be proposed through the governance mechanism. Presently, the fees are utilized in several key areas: to fund advancements and innovative projects that advance the industry, to support marketing efforts and strategic partnerships, and to enhance the community's treasury, directly benefiting its members.

In order to maximize the benefits of using the bridge and to reward its users, staking pools and their participants are entitled to the entire fee generated by the bridge on our side. This fee of 0.75% will be directly distributed to the pools and divided among the pool participants. Information on how to stake can be found on the dApp, or right here ⤵️

🔓Staking

Our liquidity providers incur only modest fees, which are determined by our partners based on various elements. These elements include the liquidity of the token, market fluctuations, transaction slippage, and network congestion. Should a transaction seem unusual, we encourage you to contact us via our support channels.

Upon receiving your quote, the cost will be exactly as stated; there will be no additional charges beyond the initial gas fee required for the transfer through the BitSwap protocol.

Once you initiate your transaction, rest assured there are no hidden fees. While the final price might vary upon completion due to the chosen token's volatility, you will receive the amount you entered into the dApp without any undisclosed fees – that's our guarantee.

As part of its tech-focused journey, BitSwap requires funding for new developmental plans and scaling, thus the 1% is being used in this regard. This could involve enhancing our tools through development or introducing innovative concepts to the industry, benefiting BitSwap directly and members of all blockchain communities.

Forging strategic partnerships and engaging in marketing initiatives are crucial for growth and garnering feedback. These efforts increase the usage of our protocol. The allocated 1% is intended to ensure that our marketing activities are effective and timely, and that we can develop partnerships that mutually benefit others and ourselves, leveraging tools that are readily available to us.

The BitSwap community treasury will be a controlled decentralized collaborative decision-making mechanism that is put to use to create a sustainable ecosystem of funding for blockchain development and maintenance, we will implement proposals from participants in the treasury, they will be submitted, discussed and voted for. Find more about the treasury ⤵️

🏴‍☠️Treasury

Revenue from trading fees will be reinvested back into $BITS, utilizing mechanisms like staking pools and strategic buybacks. This portion of revenue, representing 1% of the trading fees, will be distributed as rewards through $BITS staking and other pathways to giving revenue share to participants in the BitSwap ecosystem.

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To gain insight into the decisions shaping our current direction, examine our governance system ⤵️

🏛️Structure of Gov.