Try Quests to earn cryptoThorchain Affiliate Fees
Why Affiliate Fees?
This means, anyone can simply interact with THORChain simply by broadcasting a transaction on a connected chain. Interfaces are simply mechanisms for building transactions and displaying data. Indeed, exchanges, wallets, custodial services and more, can all facilitate access to THORChain by simply wrapping the experience in a user-friendly UI.
Thus, it is important that there are incentives to do so — that every wallet, exchange and custodial service provider has clear incentives to integrate THORChain, in addition to the utility of cross-chain swaps.
Affiliate Fees are the solution to this, and THORChain’s solution is non-custodial, decentralised and transparent. A wallet developer simply adds their affiliate address, as well as fee rate, to the transaction before the user signs it. The user can review it, as well as see the fee rate to be taken. When THORChain sees the transaction it will skim off the fee and pay it directly to the affiliate immediately.
In another words, Affiliate Fees are the incentives for crosschain interface providers.
Affiliate Fees. A wallet developer simply adds their affiliate address, as well as fee rate, to the transaction before the user signs it. The user can review it, as well as see the fee rate to be taken. When THORChain sees the transaction it will skim off the fee and pay it directly to the affiliate immediately.
Methodology
Data collected from Thorchain swap events with affiliate fees parsed from tx memo. Typical memo of swap tx has a format SWAP:CHAIN.ASSET:DESTINATION:LIMIT:AFFILIATE:FEE.
Where FEE is affiliate fee in terms of BPS (basis points, or points by 0.01%). All refund transactions (any tx ids from thorchain.refund_events) were ignored.
Data grouped by affiliate fee receiver addresses and by pools. Values are RUNE measured. Total metrics are cumulative sum.
There were no affiliate fees for add_liquidity events.
Conclusion
- Affiliate Fees are 0.3% of all swaps volumes. Totally were paid 230k RUNE fees from beginning of 2022.
- Fees paid inequally, 70% fo all fees were received by THORSwap dex (thor160yye65pf9rzwrgqmtgav69n6zlsyfpgm9a7xk)
- But ThorWallet collect fees from a little bit more pools than ThorSwap.
- BNB.BUSD ETH.ETH BTC.BTC have a big shares of fees cause it have corresponding big share of trading volumes.
- So no some pool-by-pool extraordinary affiliate activity - bigger volume corresponds bigger fees.
- Fees BPS almost equally distributed among pools.