COSS has revealed on its blog that it has introduced a negative maker fee program on its crypto exchange platform.
The Singapore based made the implementation days after it introduced 0% maker fees – erasing all the fees of market makers during the trading process.
COSS has managed to gain popularity due to its attentiveness towards its community. The addition of negative maker fees was made as a result of users requests.
Users are able to claim 50% of all trading fees which are generated on a daily basis by their proprietary Fee Split Allocation program. The platform also offers discounts on trading fees for traders that make payments using the native token of the exchange.
“We are in the process of building the best global trading experience. As part of our continuous feedback-and-action style of working, we gather user feedback and incorporate it into our business and product strategy.
It is important for us to make sure new traders on the exchange get one of the best trading platforms to use. the negative maker fees implementation will allow for enhanced liquidity and better price discovery for assets on our exchange.
We are restructuring our listing processes, and scouting for the best blockchain projects in the world to make COSS their home exchange.” – said Sankalp Shangari, the CEO of COSS, regarding their dedication to a community-focused approach.
The company’s Chief Product and Strategy Officer, Rune Evensen, has stated that their newest implementations are important to their strategy of motivating market makers to trade on their platform.
“Incentivising market makers is an important strategy for us. It is aimed to allow large market makers to trade on our platform. This update has been a long time coming, and we are glad to introduce it as one of the first major updates during our resurgence.” – said Evensen.
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