A new way to distribute DEX fees without Governance
Dear 0x1 Community and BIN HODLers, we’ve developed a new mechanism to distribute DEX fees among BIN holders. At the time of writing, all the existing AMM DEXs use governance and more complicated stuffs to distribute their DEX fees to the community. But 0x1 team has made an easier and simpler way to distribute the fees using Reflection.
0x1 EXCHANGE charges 0.30% fee from each an every trade from which 0.25% fee goes to Liquidity Providers and 0.05% goes to a treasury address. From Q2 the 0.05% will be split among 0x1 team and BIN holders (ratio will be announced later). BIN will be bought at market price and will be distributed among all holders using Reflection. So no one will have to participate in Governance and go through complicated stuffs to get DEX fees, all they will have to do is holding BIN in their wallet at the time of distribution. We will be the FIRST to distribute DEX fees using Reflection and not Governance.
FYI: This distribution mechanism has been successfully tested under testnet today.