We are excited to get utilities live on BitBns. We have been working hard on building things to ensure you guys can utilise BNS in different ways. 30% of your tokens can start getting used in utilities starting from tomorrow. A lot of you have been excited about this and had been eagerly awaiting the launch for this.
- The first utility is trading fees. This goes live from today. So all trades of 1st August from 00:00:00 to 23:59:59 would get refunded on 2nd August 12:15 in your wallet.
Users now can pay their fees with BNS and get discounts. Users would have a toggle in the wallet section which would say pay fee via BNS.
All your tokens including your locked tokens would be counted for BNS slab.
You can find the fee structure here:
The fee refund would be processed at 12 noon everyday. The price of BNS would at that time would be used for calculations ( INR market of BNS for INR market trading and USDT market price price of BNS for USDT market trading fee refund) . The fees discount would be an integral part of the BNS ecosystem. This is one feature that exchanges who have tokens have had and contributes a major utility point. This is something we are introducing from today the first day after BNS has gone live.
As an example if you have traded
For 100000 INR your fees would be 250 INR (100000*0.25% fees)
For 1000 USD your fees would be 2.5 USDT ( 1000*0.25% fees)
Now if you are in VIP 2 (Check VIP slabs here) so your average traded volume for last 30 days is greater than 80K USDT and BNS holding value is greater than 250 USD and you have enabled pay with bns your fees is 40% lesser. So your fees is just 0.15%
We have received tremendous support from users over the last few days and we would continue to work towards ensuring we build amazing things overtime.
BNS has just gotten started.
This marks the DAY 1 of #100Days100Annoucements