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Calculate fees on Marsbase

In this article, we will explain the way we apply fees to all transactions on Marsbase dOTC desk.
At the moment, there are 2 types of fees on the platform: Platform fee Network or Gas fee.
The platform fee equals 1% of the total transaction, but is divided between the offermaker and the bidder in half as follows.
  • The offer maker gets a fixed fee of 0.5% of the size of the closed transaction in the same tokens as the offer itself.
  • The bidder gets a fixed fee of 0.5% of the bid size. It is paid in tokens chosen to make the bid itself.
In case the offer or the bid was canceled, no commission is charged.
Network fees are set within the blockchain independently of the Marsbase platform. At the moment, the platform can only conduct transactions with the Ethereum network, which means that network fees are set by this blockchain. In the future, there will be a cross-chain bridge for transactions with other blockchains.
On regular crypto OTC desks, the commission can exceed 3-5%, OTC managers can charge even more, depending on how difficult it is to aggregate a large volume of a rare coin.
For example, you want to sell $100,000 worth of PROM tokens. The commission of an OTC manager can be $10,000. On a regular OTC desk the loss will be from 3 to 5 thousand dollars. And by selling a large amount of assets on Marsbase, you will save most of these funds by paying only $500 as an offermaker.
In addition, right now there are 30 days without fees available on Marsbase. Within a month of the launch of the mainnet, Marsbase provides all users with the opportunity to trade absolutely free of charge.
In different times the following fees apply.
Offermaker fee
The offer maker gets a fixed fee of 0.5% of the size of the closed transaction in the same tokens as the offer itself.
For example:
User 1 creates an Offer for 100 ETH at a market price of 2500 USDT and sells the asset for USDT without a discount and a minimum bid.
As a result, 99.5 ETH will be available for exchange, and the platform commission will be 0.5% = 0.5 ETH
Additionally, the user pays network fees in ETH, depending on the speed of the transaction.
If the offer is not completely closed, e.g. only 50% of the size (49.75 ETH) is sold, then the user will be returned 49.75 ETH (the remaining part of the offer) +0.25 ETH (the remaining part of the fee). In case the offer was canceled, no commission is charged.
Bidder fee
The bidder gets a fixed fee of 0.5% of the bid size. It is paid in tokens chosen to make the bid itself.
In case the bid was canceled, no commission is charged.
For example:
User 2 opens the Marsbase dOTC platform and finds a very advantageous offer for themself. They want to buy 10 ETH for 25,000 USDT from User 1.
The generated offer will indicate: From - 25 000 USDT To - 9.95 ETH Platform fee 0.5% = 125 USDT
After the transaction is available for exchange 99.5 - 9.95 = 89.55 ETH
User 1, the offermaker, will receive 25,000 USDT.
User 3 also saw a good offer from user 1 and decided to buy out the rest of the 89.55 ETH. In this case, the created rate will indicate:
From - (89.552500+89.552500*0.005)= 224,994, 375 USDT To - 89.55
Platform fee 0.5% = 1,119.375 USDT