Kraken Futures will reduce all buyer fees
Kraken Futures announced a new plan to lower buyer fees. The new plan will affect all merchants and will change the flat fee model to one based on volume on the trading platform. They claim that fees will be lowered for all of their clients by at least 33%. The UK regulated cryptocurrency exchange tries to improve user experience and provide more attractive services to win more traders.
The new policy for reduced fees at Kraken Futures will take effect from October 2. You can see the new guidelines in the Kraken blog.
Providing a fair market for all merchants is the main reason why Kraken has decided to lower buyer fees.
“With this new structure, every customer, no matter how big or small, will see dramatically lower buyer fees. Lower fees for both individuals and institutions are expected to stimulate flow and boost volume ”, said Kraken Futures CEO Timo Schlaefer. “Kraken Futures has steadily grown in market share over the past year. Lowering rates is the right thing to do for customers and will help lay the foundation for our next phase of growth. "
After the new volume-based fees are applied, the old Revenue Sharing Program will be discontinued at Kraken Futures. The crypto derivatives exchange distributed 30% fees to active traders through that program. The new program will allow all traders to receive some shares of the economic benefits of the platform.
Kraken says that the platform will calculate the fee levels based on the 30-day rotation. Details the meaning of Maker and Taker on the platform as
“If you submit a market order or limit order that crosses the order book and is immediately matched, you pay the receiver's fee. If you submit a limit order that is first in the order book for a period of time before it is matched, you pay the manufacturer's fee.
Under Kraken Futures' new system, the platform will not charge additional fees. But perpetual positions on the trading platform will have funding rates like unrealized profit / loss, which is a user-to-user transfer and does not include trading.
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