XCM Rebates & Benefits
You’ve likely heard about rebates on CoinMetro and want to learn how it all works. So we’re going to give you a background of XCM, the benefits of the token, and teach you how to earn XCM rebates just for trading cryptocurrency on the platform.
CoinMetro’s native token is known as XCM. This ERC-20 utility token is the lifeblood of the exchange and our entire ecosystem! You can store XCM on the exchange or any ERC-20 compatible digital wallets. It’s a TRUE utility token in that it’s only available at CoinMetro.
All transaction fees on the platform are paid in XCM. Any rewards, from staking for instance, and rebates are all paid in XCM as well. Plus, we’re working to add more use cases and ways to earn XCM everyday. But we will dive deeper into all the XCM utility below.
What Makes XCM Great?
In short, the purpose of XCM is to drive the exchange by offering benefits & value to CoinMetro users. It’s directly tied to nearly every aspect of the platform, which makes for an incredibly strong ecosystem! It can be used on the cryptocurrency exchange, the margin & copy trading platforms, as well as our innovative digital securities marketplace. Users earn rewards paid in XCM through LINK staking, QNT staking, and soon the option to stake XCM itself!
Vaulting, locking, & rebates are also vital aspects to the CoinMetro platform which create utility and drive the value of XCM.
Why Are We Vaulting XCM?
Vaulting slowly & steadily removes XCM from circulation. Simply put – as more people use the CoinMetro platform, the demand for XCM increases. CoinMetro uses 100% of all transaction fees collected to market buy our native token. 50% of this newly purchased XCM is then sent to the vault.
Our goal is to eventually begin burning entirely. As it stands now, the vault has a smart contract to be released to the CoinMetro treasury in early 2024. Check out the XCM Vault here.
What Are XCM Rebates?
Rebates are one of the most unique aspects of Coinmetro. Not only do we have some of the lowest fees in crypto, but users earn back some of those fees through XCM rebates! Joining one of our three rebate tiers unlocks these rewards. The higher the tier, the better the benefits! Users access tiers by “locking” certain amounts of XCM.
Locking 10,000 XCM is required for the first tier. The second tier opens at 25,000. And users access top tier benefits by locking 50,000 XCM. All done with a simple press of a button. You must unlock this XCM in order to sell it, at which point perks will expire.
We’ll take a closer look at the actual benefits below.
Benefits of XCM Rebates
Hold XCM and get amazing discounts! Can it really be that simple? Yes! The benefits vary by tier and service used.
When trading on CoinMetro, makers are NEVER charged a fee. Not only that, but makers can earn up to 50% of the fee that the taker pays for the transaction.
That’s right… you can get paid to trade on CoinMetro!
The only trading fee is paid by takers at the low rate of 0.1%. Takers on the exchange and the margin platform will earn back 5-20% of their transaction fee. On the copy trading platform (TraM), followers will earn rebates up to 20% as well.
A user is also required to be part of these tiers in order to manage a TraM account. Users can open up to three TraMs by getting to the third tier.
Makers & takers refer to “making the market” or taking from it. A maker order is a limit order which rests in the order book. This adds liquidity. On the other hand, a trader becomes a taker when they place an order to be filled immediately, like a market order. They’re taking liquidity from the market.
XCM rebates are an essential part of our financial metropolis! CoinMetro is constantly developing this unique idea as we add more products & services to the ecosystem. Rebates are just one of the many ways we boost adoption and contribute to the growth of XCM.