The Open Network (TON) Foundation has formed a partnership with the BIT exchange to enable traders to pay their trading fees in Toncoin, the TON Network’s native token. For a limited time, BIT is offering a discount of 10% on trading costs to traders who use the “Deduct with TON” option.
Toncoin holders can now use BIT’s “Deduct with TON” feature. This marks the first time an exchange has accepted tokens that are not native to the platform as payment for trading fees (without the token being a stablecoin). This is a direct result of the strategic partnership agreement between TON and BIT in an effort to help onboard the next 100 million people into Web3.
The innovative nature of this alliance is a reflection of TON Foundation and BIT’s strong strategic partnership, which dates back to January 2022, when TON token was initially listed by BIT. From launch, BIT users who pay using Toncoin will receive a considerable discount of 10% off trading fees. Furthermore, this will be applicable to all trading types, including options and futures.
Sub-accounts can now enable the TON deduction fee option on their own, a feature made possible by BIT to accommodate users with varying preferences. The ability to customise fees to each sub-account’s needs and preferences is made possible by this feature. This will ensure that the partnership accommodates many different types of traders.
BIT is a regulated exchange for buying and selling cryptocurrency and other crypto-related derivatives, with a focus on options trading. In addition, Portfolio Margin and Unified Margin are two of the many features that set BIT apart as a full-featured exchange. To make crypto derivatives available to a wider variety of institutional investors, the exchange is a market leader in the facilitation of USD-margin options trading.
This post was last modified on Aug 02, 2023, 14:56 BST 14:56