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Fee structure

Tonic charges fees for taker orders, and offers a percentage of taker fees to makers as an incentive. The current fee and rebate rates are as follows.

Stable pairs (e.g. USN/USDC)

Fee tierTaker fee (bps)Maker rebate (bps)

All others (e.g. NEAR/USDC)

Fee tierTaker fee (bps)Maker rebate (bps)

For example, in a trade using the base normal fee tier with 1000 USDC volume, the taker fee is 1 USDC, and the maker rebate is 0.50 USDC.

When released, one function of the Tonic token (TONIC) will be to decrease taker fees and increase maker rebates. The proposed fee and rebate rates are as follows.

Fee tierTaker fee (bps)Maker rebate (bps)

Referrer Rebates

Tonic as a referral program to encourage developers to build their own frontends on top of the platform. Frontends or smart contracts programatically trading can pass a referrer_id when placing an order. The referrer account ID receives 20% of net trade fees to their exchange balance. The calculation is as follows:

(taker fee - maker rebate) * 0.2