The WX Network fees
Updated over a week ago

Any transaction within the Waves blockchain demands the network fee payment. Besides, some transactions require the service fees to be paid like transactions of transfers into the different blockchains or suggesting tokens for voting. Some of these fees can be paid with the sponsored tokens. We take a closer look at the different transactions which require the fee payment in this article.

Trading fees

The most common transaction on the Waves blockchain is an exchange transaction (trading transaction). An exchange transaction is a record in the blockchain about two orders matched one with each other by a matcher/exchange. When the user's order is executed, the order creator is charged a trading fee of 0.1% of the order value in highly liquid pairs and pairs with USDC-BEP20, WAVES, USDT, USDC, WX, USDC-ERC20, ETH, USDT-ERC20, WBTC, USDT-BEP20 (but not less than the equivalent of 0.01 WAVES) or 0.01 WAVES in other trading pairs. In addition, in some trading pairs, the commission is reduced to 0.005 WAVES per order. Such trading pairs are located in the "Low Fee" section on the right side of the Spot market. You can check comission in any trading pair on the "Fees Types" tab.

Also, WX Network users can exchange tokens via Swap service. Using it, you pay a protocol's fee 0.4% (for the most pairs) and network's fee 0.005 WAVES.

Transfer fees

In addition to exchange transactions, WX Network users do often make transfer transactions. They can transfer their cryptocurrencies to another Waves address or use a cross-chain service and transfer them outside the Waves blockchain. If the transfer is carried out within the Waves blockchain, the sender should choose whether the tokens are transferred to a single Waves address or several Waves addresses simultaneously. To transfer a token from one Waves address to another Waves address, the network fee in the amount of 0.001 WAVES has to be paid (or it can be paid by a sponsored token). When the token is transferred to multiple addresses the commission is 0.001 WAVES + 0.0005 WAVES for each recipient address. If the cryptocurrency is added to the PepeTeam Bridge, then it can be transferred between the WX Network (which based on the Waves blockchain) and third-party blockchains. For such a transfer, a bridge fee and a network fee are charged.

Fees for investment

WX Network provides its users with the opportunity to earn passive income from investing in a great variety of investment products such as Liquidity Pools, LP Staking, Lambo Investments, WAVES Staking. Since an investment operation is a transaction in the Waves blockchain, a network fee of 0.005 WAVES is charged for each one (or it can be paid by a sponsored token). The only exception is WAVES staking, the commission for investing there is 0.001 WAVES.

The same fees are charged for the token withdrawal from investments as for investment operations being transactions in the Waves blockchain as well.

Some investment operations require two transactions when investing or withdrawing tokens from an investment product, such as Lambo Investments, LP Staking and Liquidity Pools. Each of these transactions require a fee of 0.005 WAVES.

Investing and withdrawing from liquidity pools using one token require to pay an additional fee: 0.15% of the investment transaction amount and 0.25% of the withdrawal transaction amount.

Token management fees

One of the most popular features of the Waves blockchain, which has been supported and significantly developed by WX Network, is the token creation and management. Creating a token with WX Network takes no more than 5 minutes and does not require programming knowledge.

The commission fee for creating a token is only 1 WAVES. The created token can immediately be traded on the internal Spot Exchange market right after its creation. In addition, the token can be verified by voting to increase the trust of other users in the project. To start a verifying process a network fee of just 0.005 WAVES has to be paid (or it can be paid by a sponsored token) as well as a service fee whose depends on the voting perioв (71.43 WX per day). A successful token verification phase will allow the creation of a liquidity pool with this token to attract users' attention to the token and the project behind it. The commission fee for creating a liquidity pool operation with a verified token is 0.005 WAVES (or it can be paid by a sponsored token) and 1000 WX.

In addition, the token can be burned and reissued, its name and description may be changed. Also, you can set a sponsorship on your token. Each of these operations cost 0.001 WAVES.

Alias creation fee

The Waves blockchain provides quite an unusual but useful option of creating an alias. Any WX Network user can create an alias for his account address and provide it to the sender as the recipient address which is easy to remember. An alias can be either the name of the project or the name of the account owner or contain any other information. The fee for creating an alias is 0.001 WAVES.

If you have any questions related to WX Network, feel free to contact us.

tags*: get waves pay trading fee transferring fees investment invest commission

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