Fees
Fee Structure within Liquid Earth Contracts
Fees play an essential role in the Liquid Earth ecosystem, serving multiple purposes such as incentivizing platform use, generating revenue, and maintaining a secure and robust network. Here's a breakdown of how fees work within the Liquid Earth contracts deployed on the Fantom blockchain:
Types of Fees
Platform Fee: A percentage fee levied on each transaction, such as Digital Asset sales, auctions, or rentals.
Royalty Fee: A fee paid to the original creator of an Digital Asset each time it's sold or traded.
Listing Fee: A fixed or percentage fee charged when a user lists an asset or Digital Asset for sale.
Auction Fee: A fee incurred when initiating or winning an auction.
Bundle Fee: A special fee for transactions involving multiple Digital Assets bundled together.
Who Sets the Fees?
Platform Fee, Listing Fee, and Auction Fee: Typically set by the contract owner or admin and can be updated as needed.
Royalty Fee: Generally set at the time of Digital Asset creation by the Digital Asset creator.
Bundle Fee: Also set by the contract owner or admin.
Fee Bounds
Platform Fee: Can range from 0% to a maximum of 10%.
Royalty Fee: Usually capped at 5%.
Listing Fee: Fixed fee, can vary based on asset type.
Auction Fee: Percentage-based, capped at 5%.
Bundle Fee: Percentage-based, can range from 0% to 5%.
When Are Fees Paid?
Platform Fee: Paid at the moment of each Digital Asset transaction, automatically deducted from the sale price.
Royalty Fee: Paid at the time of an Digital Asset sale or trade, given to the original creator.
Listing Fee: Paid upfront when listing an asset or Digital Asset for sale.
Auction Fee: Paid by the winner at the end of the auction, or by the auction starter at the time of initiation.
Bundle Fee: Paid at the time of transacting each bundle.
By instituting this fee structure, Liquid Earth creates a balanced ecosystem where creators, buyers, and the platform itself can thrive. The fees also offer an incentive for good behavior within the network, thereby enhancing the overall quality and reliability of the Liquid Earth marketplace on the Fantom blockchain.
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