🏪Platform Fees
Creation Fees on Mint Club
To prevent front-running attacks, a nominal fee is required for creating bonding curve-backed tokens or NFT contracts on Mint.club. This fee is implemented as a safeguard against front-runners who might attempt to steal a chosen token symbol, and to minimize abusive attempts. The exact creation fees per chain are as follows:
Ethereum: 0.002 ETH
Optimism: 0.0007 ETH
Arbitrum: 0.0007 ETH
Base: 0.0007 ETH
Polygon: 2.5 MATIC
BSC: 0.005 BNB
Avalanche: 0.05 AVAX
Blast: 0.0007 ETH
Degen L3: 50 DEGEN
Zora: 0.0007 ETH
Klaytn: 8 KLAY
Please note that gas fees for launching, minting, burning, or updating information of bonding assets will also need to be covered.
Trading Fees on Mint Club
Trading fees, in the form of minting (buying) and burning (selling) fees, are applicable ONLY if the bonding asset creator has set Creator Royalties for their asset. In such cases, the collected fees are distributed in an 8:2 ratio between the bonding asset creator and the protocol as Platform Fees. For instance, setting the Creator Royalty percentage at 0.3% means the creator receives 0.24% and the protocol gets 0.06%. If the Creator Royalties are not set (i.e., set at 0%), then there are no trading fees incurred on Mint Club as well. For more information about Creator Royalties, please refer to the document linked below.
Usage of Platform Fees
Mint.club collects Platform Fees to enhance the platform's ecosystem, strategically reinvesting them into Platform Utility Tokens. Presently, all platform fees are accumulated in the treasury wallet - 0x82CA6d313BffE56E9096b16633dfD414148D66b1. These fees are utilized for key ecosystem activities as follows:
50% of the Platform Fees are dedicated to purchasing and burning MINTDAO tokens. This action strengthens MINTDAO's role in governance.
The remaining 50% is allocated for acquiring GRANT tokens. These tokens are used to establish a sustainable marketing and corporate fund and support the Grant Reward Program (GRP).
It's crucial to recognize that currently, a significant portion of the Platform Fees collected by Mint.club is reinvested into the MINT ecosystem, rather than being retained as corporate profit. This decision is aimed at prioritizing the growth of the platform, maximizing the use of available resources to benefit the ecosystem. To learn more about the Buy-Back from Platform Revenue program, please see the detailed documentation at the following link:
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