Transaction fees are a fraction of the notional value of each trade (price of token x amount of tokens traded). We use units of basis points (“bps”) which represent 1/100th of a percent of notional value. For example, a fee of 5bps means we charge 0.05% of the value of the trade.
Gas fees are paid to Ethereum miners to confirm and settle your trade. On The Ocean, we set a fixed fee per trade to cover gas based on the state of the Ethereum blockchain.
A discount on total fees—the transaction fee plus the gas fee—is provided to makers and OCEAN token holders. Fees can be paid in either ZRX (the 0x protocol token) or the native token.
Max OCEAN Token Discount
If you hold OCEAN tokens in your Ethereum address, you will automatically pay lower fees on our platform. The more tokens you hold, the greater the discount.
For more details on how the OCEAN token works, please read our accompanying blog post.
Dedicated market makers receive extra incentives (starting with zero trading fees) to trade on our platform, so long as they meet certain volume and performance requirements. If you’d like to be considered for this program, please send us a message at firstname.lastname@example.org.