This is the agreement that allows reto to offer 0% fees (lemmy.zip)

submitted 1 month ago by shortwavesurfer@lemmy.zip to c/monero@monero.town

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In order to boost Haveno adoption, We propose the following:

RETO lowers its trade fees to 0%

in return:

RETO receives the equivalent of X per year or Y per month with the first 4 months paid up-front, subsequent payments on a monthly basis.
Once monthly RETO volume exceeds 1M fiat and sustains it for 3 months in a row, RETO reintroduces a fee and pays back any fees above X until the total amount paid back is equal to the total amount previously received.

Example:

If RETO earns Z in a month, it pays back Z-Y.

Should volume suddenly be drastically higher than expected, we will not reimburse RETO for “lost” trade fees and assume we have reached our goal in boosting Haveno adoption.

This agreement is initially going to last until 2025-12-31 with the first payment dated back to 2024- 11-01 under the condition that the 0% trade fee goes into effect with the release of Haveno v1.0.13.

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[-] Krugtron9000@monero.town 2 points 3 weeks ago

Are you daft, man? Just remove the absurd trade size limits.

There are multiple professional traders from LocalMonero who won't touch Haveno with a ten-foot pole until you fix this. You're killing your own market. The really good traders' time is valuable; the per-trade overhead is way too high for the limits to make sense, so all you're left with is the clowns.

[-] kevino1@fosstodon.org 0 points 1 month ago

@shortwavesurfer is this a ccs proposal ?

[-] shortwavesurfer@lemmy.zip 2 points 1 month ago

No, this is already going to occur.

[-] kevino1@fosstodon.org 4 points 1 month ago

@shortwavesurfer i meant where are they getting these funds from ? Someone agreed to provide them the funds ?

[-] shortwavesurfer@lemmy.zip 3 points 1 month ago

Unknown to me, when asked about it, they said, people from the Monero community. But I have no idea who. And that's the way they wanted it.

[-] chaser@monero.town 1 points 4 weeks ago

putting the text into quotes would make the context clearer. this way it sounds like you are part of the group that made the offer. without context, it's hard to understand who plays what role here.

interesting move, nevertheless.

[-] shortwavesurfer@lemmy.zip 1 points 4 weeks ago

Yeah, definitely not my doing. I don't have the kind of picos to be throwing around like that.

[-] key_brolin@monero.town 0 points 4 weeks ago

Is Reto connected to some exchanges for people to get Monero?

[-] shortwavesurfer@lemmy.zip 2 points 4 weeks ago* (last edited 4 weeks ago)

No, you have to get your Monero for the security deposit, either by offering a good or service in the Monero economy, or purchasing it in a tiny amount from somebody peer to peer.

Here are some examples. https://xmrbazaar.com/user/AuroraGeneralStore/

https://xmrbazaar.com/user/TheBasicsStall