This article introduces some key concepts and parameters of MemeX. Understanding such terms could facilitate your trading journey.
Fee
Trading fee of MemeX has two components:
-
Gas fee: This is used to cover the on-chain transaction cost. Such a fee varies per network activity and could be high due to network congestion.
-
Service fee: This is 1% of the trading value before the fee.
When you buy assets, the fee is deducted upfront from your USDT payment. When you sell assets, the fee is deducted from your USDT proceedings.
Slippage
Slippage is the difference between the amount expected and the amount you actually get. Such a difference happens because other trades could change prices before your trade is finalized.
For example, you have submitted your order and another person may have finalized a buy order before your trade gets finalized which pushes the asset price higher.
The slippage is on auto mode, which sets the slippage per market conditions. The minimum slippage under auto mode is currently 5%. You may also manually change the slippage per your judgements.
Trading Limit
Trading limit per order is between $1 and $10,000. Daily trading limit is $50,000. Such parameters may change per market conditions and our judgements.
