Nothing is engraved in stone, especially when you are a user-focused product.
Our team has listened closely and consequently decided to change our fees to make them more equitable and incentivize our users to operate on the platform we have built for them.
This comes as we have understood that indiscriminately implementing 1% fees on every transaction did not send the right message to our community and goes against democratization.
We wish our users to be rewarded and even favored for furthering our product and the ideals of Social Finance that we champion.
The idea is simple: we now make a difference between actions that add to what we do, and those that take away.
Nested now counts two categories of actions that define the fees paid upon transacting.
If you operate in a way that adds or maintains total value locked [TVL] on our platform, the fee drops to 0.3%.
In other words, Nested charges a 0.3% fee on each operation that doesn’t reduce our TVL — instead of the previous 1%.
These include the following functions:
- The creation of portfolios
- The replication of portfolios
- Add tokens
- Swap tokens
- Sell tokens — if the user wants to receive the output of the sale in a NestedNFT.
Now, if you operate in a way that takes away from our TVL, you will still pay a smaller fee than you used to — 0.8% instead of 1% — but you will pay consequently more than for the aforementioned operations.
You will pay an 0.8% fee for each of the following operations:
- Sell all
- Sell tokens — if the user wants to receive the output of the sale in a web3 wallet (Metamask, Coinbase Wallet, etc.).
Here with and for you
The whole of the Nested team is devoted to one thing: our users.
This can certainly not be repeated enough and we will not shy away from insisting on it.
Those deaf and impermeable to change are by essence incapable of instigating any change. We intend to lead a true DeFi revolution and we know that we cannot achieve this on our own.
Our primary partners are our users, who keep on testing the limits of our platform and who keep spreading the good word about a visionary startup that wishes to democratize web3 investment.
This is why, ultimately, once Nested’s Decentralized Autonomous Organization [DAO] is live, these decisions will be made collectively by the DAO members.
In the meantime, this move benefits all Nested current and future users.
Everyone pays less fees than before.
Our TVL has risen ten folds since the Avalanche Summit, and our sustained launching of new networks — from Ethereum to Optimism — reinforces this upgoing trend.
Let’s get after it.
As usual, don’t forget to follow-us.