Reduce Futures transaction fees with NAO payment

As stated in the Whitepaper, the NAO token of the Nami Frame Futures project is designed to bring benefits to holders such as reducing Futures transaction fees, receiving project revenue sharing, participating in the governance pool, etc…

Starting today, July 01, the first benefit for NAO holders will be launched: Reduced Futures transaction fees for investors who choose to pay fees with NAO tokens.

NAO payment mechanism

Normally, Futures users need to pay a transaction fee of 0.06% trading volume when opening and closing orders. Fees are calculated in VNDC by default. Starting from July 1, users will receive a 40% discount when paying with NAO (0.06% fee reduced to 0.036%).

Example: You create a Buy/Long BTC position with a volume of 5,000,000 VNDC

  • Order opening fee if paid in VNDC: 5,000,000 x 0.06% = 3,000 VNDC
  • Order opening fee if paid in NAO: 5,000,000 x 0.036% = 1,800 VNDC (40% discount); With the exchange rate of NAO/VNDC at the time of charging is 1 NAO = 1000 VNDC, you need to pay 1800 / 1000 = 1.8 NAO.

Note: 

  • The amount of NAO fee to be paid is calculated according to the VNDC/NAO conversion rate at the time of charging.
  • Liquidation premium and order maintenance fee are still calculated in VNDC according to the old fee schedule.

Detailed instructions

1. Instructions to deposit/withdraw NAO to Futures wallet

At the Futures screen, select the Wallet icon

Click Deposit. 

Select the asset you want to deposit (NAO)

Enter the amount 

Click Deposit and verify to complete the transaction.

At the Futures screen, select the Wallet icon

Click Withdraw. 

Select the asset you want to withdraw (NAO)

Enter the amount 

Click Withdraw and verify to complete the transaction.

2. How to choose NAO as payment

At the Futures screen, select the Wallet icon

Select the Settings icon

Select NAO. Click Confirm to finish.