Delegate your SWTH Fee Tier to another account without transferring your SWTH easily.
Fee Delegation is a novel feature introduced on Demex, designed to optimize trading fee discounts for users with varying holdings of SWTH tokens. This feature allows users with higher discount tiers to delegate their fee discounts to users with lower tiers.
How Fee Delegation Works
Roles in Fee Delegation
Fee Delegator (aka Owner): Someone who typically holds a significant amount of SWTH tokens and thus falls into a higher discount tier (such as 'Whale'), entitling them to substantial trading fee discounts.
Fee Delegate (aka Delegate): Someone who typically holds little to no SWTH tokens and is thus receiving minimal or no fee discounts.
Delegation can be initiated by either party:
Person A (aka the Owner) sends a delegation request to Person B.
Person B (aka the Delegate) can also request Person A to delegate to him.
The receiving party must accept the delegation request to activate the process.
Upon successful delegation, Person A’s discount tier drops to the lowest tier.
Person B’s tier changes to the Person A's Tier.
Updated Trading Fee Discounts
Following the delegation, both Person A and Person B will have their trading discount fees updated to reflect their new respective tiers.
Benefits of Fee Delegation
For Owners: Allows the utilization of their high-tier benefits, potentially in exchange for other compensations/services from the delegate.
For Delegate: Enables users with lower SWTH holdings to enjoy higher-tier fee discounts, enhancing their trading experience on Demex.
Fee Delegation is a strategic feature that aligns with Demex's vision of fostering an inclusive and flexible trading environment. It not only incentivizes holding SWTH tokens but also provides a platform for beneficial collaborations among different tiers of traders.
At the moment, Fee Delegators can only delegate to one account, but this may change in the future.