The Polynomial Chain VIP Program is designed to reward high-volume traders by providing them with discounts on maker and taker fees.
The standard trading fees on the Polynomial Chain are:
The VIP Program consists of 10 levels, each offering progressively greater fee discounts. These levels are designated as VIP 0 (standard fees) through VIP IX. Traders are assigned a level based on their average daily trading volume over the previous 30 days on a rolling basis.
| Level | 30d volume | Maker Fee | Taker Fee |
|---|---|---|---|
| VIP 0 | < 10M | 5 bps | 8 bps |
| VIP I | ≥ 10M | 3 bps | 7 bps |
| VIP II | ≥ 25M | 2.75 bps | 6.5 bps |
| VIP III | ≥ 50M | 2.5 bps | 6 bps |
| VIP IV | ≥ 100M | 2 bps | 5 bps |
| VIP V | ≥ 250M | 1.5 bps | 4.5 bps |
| VIP VI | ≥ 500M | 1.25 bps | 4 bps |
| VIP VII | ≥ 1B | 1 bps | 3 bps |
| VIP VIII | ≥ 2.5B | 0.5 bps | 2.5 bps |
| VIP IX | ≥ 5B | 0 bps | 2 bps |
Note: The specific trading volume thresholds (X1, X2, ..., X9) and exact fee structure will be determined and communicated separately.
To implement the VIP Program, modifications are needed in the way trading fees are calculated and applied across the Polynomial Chain. This involves updating the PerpsMarketConfiguration for each marketId, creating a helper function to retrieve fees, and integrating a fee calculator contract to manage VIP statuses.
PerpsMarketConfiguration to use a helper function that dynamically adjusts maker and taker fees based on the trader's VIP status.accountId to their VIP status. This contract will also handle updates to VIP statuses.orderFees struct is used to call the new helper function, ensuring that the correct fees are applied based on the trader’s VIP level.