Dear BitZ users:

In order to reduce users' transaction costs, improve the trading experience and enrich the BZ ecosystem, BitZ exchange will come online the tiered fee and offline market maker plan synchronously.

 

What is tiered fee of exchange transaction?

In the tiered fee, the concept of user level is introduced. The higher the user's level, the better the exchange transaction fee rate and more benefits. Users can upgrade the level by increasing the transaction volume in the past 30 days or holding more BZ.


The detailed rules of tiered fee are as follows:

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* You can get a discount on the transaction commission fee when using BZ to pay. Real commission fee = Basic commission fee * BZ discount rate

* At 00:05 A.M. every day, the system calculates users’ trading volume for the past 30 days ( Add up the volume of each completed transaction which convert into BTC according to the exchange rate of the transaction currency and BTC at the moment of transaction.)

* At 00:05 A.M. every day, the system calculates BZ holdings captured by the random snapshot on the previous day. (The sum of the available BZ amount of account and sub-account at that time)

* System automatically updates the user's tiered fee related parameters based on the user's trading volume for the past 30 days and the BZ holdings of the previous day.

* If the fee rate is negative, it means that user will get the fee refund without paying any fee. The refunded fee will be issued to the exchange account at 16:00 the next day.

* The parameters in the table may be adjusted at any time. Please refer to the project page for reference after the event going online.

 


Protection Period Description :

After completing the calculation of the user's trading volume for the last 30 days and the BZ holdings of the previous day are completed at 00:05 daily, if user has been downgraded, and the user's current level is its highest historical level, the user will be given days of protection period corresponding to the current level. During the protection period, the user's level only goes up. Even if the user's trading volume in the past 30 days and the previous day's BZ holdings do not meet the requirements of the current level, the user will not be downgraded. If the user upgrades during the protection period, the protection period ends automatically. The number of protection period triggers within 30 days varies according to the user's current level. When the remaining number is 0, the protection period is no longer triggered.



Effective time of tiered fee:

At 0 o'clock on January 12, 2020, the system will define an initial level for each user based on the accumulated trading volume in the past 30 days( including margin trading, converted into BTC) and average daily BZ holdings (calculated based on the sum of the available BZ amount of account and sub-account at 00:00 per day). Tiered fee will come into foce officially at 15 o'clock on January 12, 2020. 


The relevant issues of the offline market maker plan are as follows:

1. The market maker plans will go offline at 15 o'clock on January 12, 2020, and the market maker fee refund for January 12, 2020 00:00~15:00 will be issued normally at 6 o'clock on January 13, 2020.

2. Existing market maker will maintain a fee rate corresponding to the market maker level at 11:00 on January 12, 2020 for 30 days (from 15 o'clock on January 12, 2020 to 15 o'clock on February 11, 2020). After 30 days, users will follow the normal tiered fee.

3. Mainstream tokens and innovation tokens are adjusted as follows:

Mainstream Tokens:

BTCXRPETHXLMBCHABCEOSUSDTNEOLTCBCHSVTRXDASHETCONTZECDOGEBTGQTUMTUSDBNBBZPAXATOMALGOHTIOST

Innovation Tokens:Non-mainstream tokens

4. From the moment of this announcement, no new market maker applications for existing market maker plans will be accepted.



The time zone of times mentioned in this announcement are all  UTC + 8.



BitZ recommends Features:

BitZ Margin Trading: https://www.bitz.top/marginExchange/btc_usdt?margin=open

BitZ Leverage Financing:https://www.bitz.top/lend

BitZ Coin Pocket: https://www.bitz.top/lend

National Partner: https://help.bitz.top/article/100001817



BitZ China(Telegram):https://t.me/bitzCN

BitZ China(BiYong):https://0.plus/bitzCN

BitZ Community(Telegram):https://t.me/bitzEN

BitZ official WeChat:

image1578452556890.png

Risk reminder: Cryptocurrency asset is a kind of innovative investment product with volatile prices. BitZ serves as a neutral trading platform, established only for providing convenience for cryptocurrency enthusiasts trading cryptocurrencies, and assumes no liability or guarantee of or compensation for the investment value of coins. Please make a rational estimation of your investment ability and make prudent investment decisions.


Thank you for your support!

BitZ Team

Jan 8, 2020






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