Injective

*Published on November 15,2021: https://bit.ly/30vvozCThe VIP Fee Discount Program is now live on the Injective mainnet. This will be the first fully decentralized VIP fee Discount Program in the entire crypto industry!View the Fees Page <a href="https://injective.exchange/fee-discounts" rel="noopener noreferrer nofollow">here</a>. You can also find the link to the page on the footer of the Injective Pro page <a href="https://injective.exchange/" rel="noopener noreferrer nofollow">here</a>.<h2 id="header-0">The VIP Fees Program</h2>Governance Proposal #69 was voted on by the community in order to enact the fee program on chain.The Canonical Chain upgrade last week included a modular architecture that could host an on-chain Fee Discount Program. In essence, the Injective VIP Fee Discount Program is the first ever fully on-chain fee discount program rewarding traders and market makers who make a long-term commitment to Injective Protocol.The program provides network participants with trading fee discounts based on their Tier which is determined by the trailing 30-day trading fee contribution as well as staked INJ amount.Staking and fees generated are both vital for the growth and security of the protocol. This is exactly why these two parameters were selected for determining the fee tiers. Users are thus incentivized to contribute to the protocol via both staking and fee generation on the exchange in order to earn the lower fee tiers which can be quite lucrative especially for high volume or institutional traders.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/207741c4f9e243fa9be0a3a9484dc90d.png" /> A Display of the Newly Released Fees PageThe program is designed to enable everyday users to attain the first few ranks rather quickly. The basic requirement to achieve Tier 1 to stake 1 or more INJ which already provides traders with a 10% discount across both maker and taker fees. Of course, the tiers become increasingly harder to achieve in order to incentivize larger traders, holders and institutions to contribute more to the protocol.The initial idea of the program was inspired by our friends and backers at Binance. However, it was iterated upon further by the larger Injective community through both discussions in the governance forum and other channels such as Discord.The fully on-chain VIP Fee Program brings Injective one step closer to building the most powerful exchange infrastructure in the industry today while also incentivizing volume growth and overall protocol adoption.<img src="https://miro.medium.com/proxy/0*Upomcnow1POOKn3C" /><h2 id="header-1">About Injective</h2>Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives &amp; Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.<a href="https://injectiveprotocol.com/" rel="noopener noreferrer nofollow">Website</a> |<a href="https://t.me/joininjective" rel="noopener noreferrer nofollow"> Telegram</a> |<a href="https://discord.gg/injective" rel="noopener noreferrer nofollow"> Discord</a> |<a href="https://blog.injectiveprotocol.com/" rel="noopener noreferrer nofollow"> Blog</a> |<a href="https://www.twitter.com/&#64;InjectiveLabs" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://blog.injectiveprotocol.com/tag/learn/" rel="noopener noreferrer nofollow"> Learn</a> |<a href="https://www.youtube.com/channel/UCN99m0dicoMjNmJV9mxioqQ" rel="noopener noreferrer nofollow"> Youtube</a> |<a href="https://www.facebook.com/injectiveprotocol" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.linkedin.com/company/injective-protocol/" rel="noopener noreferrer nofollow"> LinkedIn</a> |<a href="https://www.reddit.com/r/injective/" rel="noopener noreferrer nofollow"> Reddit</a> |<a href="https://www.instagram.com/injectivelabs/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://weibo.com/7452104340/profile?rightmod&#61;1&amp;wvr&#61;6&amp;mod&#61;personnumber&amp;is_all&#61;1&amp;ssl_rnd&#61;1612829152.4355" rel="noopener noreferrer nofollow">Weibo</a> | Orbit Newsletter

Injective VIP Fee Discount Program Launch

Table of Contents

Injective

Other articles published on Feb 8, 2022

UniLend V2.0 OMNIS Protocol Whitepaper

Strategic Partnership Announcement: FOTA x Merit Circle

AnchorSwap Brings ‘Crypto For Everyone’ Through Inclusive DeFi Ecosystem

How Cryptex Is Going From Grassroots Idea To Global Solution

INJ-ETH Bridge Release: Seamless Cross-Chain Interoperability

Injective is Set to Launch the World’s First Fully Decentralized Derivatives Markets with the Ban...

Join our free newsletter for daily crypto updates!