FEES AND REWARDS
FEES AND REWARDS
Rewards
The holders of tokens can register their wallet into the rewards program. Registered addresses will accumulate EQT over time, based on their balance, time and current % reward. Reward percentage in the graph is on annual basis.
The calculation of the reward:
Reward = (((balance * time in seconds) / 31557600) * (10^16 - ((total supply / 10^18)^2))) / (665 * 10^14)
Note:
31557600 is number of seconds per year (365.25 days)
10^16 is result of (intended supply / 10^18)^2
Mint Fee
The mint fee applies when "externalMint" function (or any function depending on it) is used while the total supply is above the intended supply. The calculation of this fee is based on the difference between the total supply and the intended supply. This fee exist to ensure the supply will not rise too much above the intended.
The calculation of the fee:
Fee = amount * (total supply - intended supply) / (99 * intended supply - 9 * total supply)
Wrapping fee and Unwrapping bonus
Wrapping the EQT (turning EQT into WEQT) is usually free of any fees, however in the unlikely case when "EquivalenceTokenWrapper" would be running out of WEQT tokens (there is less that 1 billion tokens held by the contract), the fee starts to apply.
When the amount of tokens drop below 900 million, the bonus for unwrapping the EQT (turning WEQT into EQT) starts to apply as well.
Bonus and fee both exist to motivate users to supply WEQT to the smart contract, rather that withdraw it and ensure this way there would never be 0 tokens available for wrapping.
Bonus is flat value of 0.1%
The fee is dynamic, based on amount of held tokens, calculation of the fee:
Fee = amount * (10**27 - balance of contract) / (10**27 + (100 * balance of contract))
Gas fee
All transactions on the blockchain require “gas”, the price of gas changes over time depending on the usage of network. On most blockchain explorer you can check the current gas price.
The gas cost is not charged by us, it is a fee for using the blockchain itself.
On some blockchains the gas cost can be insignificant, while on others it may add up to large cost when making multiple transactions, please make sure you understand how gas works before you start trading.
Fee for checking the code of submitted smart-contract
This fee is related only to the developers and is charged for reviewing the code of smart-contract, before our team will add it to the whitelist.
Details can be found in the Basic Information of the section "For Developers".