Block DX Fee Structure¶
Block DX is a decentralized exchange dApp powered by the Blocknet Protocol. Unlike centralized exchanges, Block DX has no deposit, withdrawal, or maker fees other than network fees of the asset being traded.
When creating an order on Block DX, there is no fee other than the transaction fee for the network of the asset being sold. This is the same type of fee you would incur if sending this asset to another party.
Having no fee to place an order encourages market makers to add liquidity. This also makes it possible for a user to acquire the BLOCK needed to take orders.
When accepting an order on Block DX, a static fee of 0.015 BLOCK is charged at the time the order is taken. This fee is charged even if a trade is canceled or fails and is meant to discourage malicious behavior on the network.
In addition to the 0.015 BLOCK fee, there is also the transaction fee for the network of the asset being sold. This is the same type of fee you would incur if sending this asset to another party.
If the taker asset is BLOCK, there needs to be at least two UXTOs - one or more to cover the 0.015 BLOCK fee and one or more to cover the traded amount.
In a future update, there will be a percent-based fee that’s charged when accepting an order, but the details of this are not yet finalized.
100% of trade fees are distributed to Service Node operators for supporting the network.