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Ithaca Docs
  • Overview
    • Ithaca Overview
    • Official Links
  • Architecture
    • Pre-Match Processing
      • Frequent Batch Auctions (FBA)
        • Auction Specifications
        • Common Product Specifications
        • Orders
      • Risk Sharing Building Blocks (RSBB)
      • Mixed Integer Linear Programming (MILP) Optimization
      • Portfolio Dominance
      • Matching Process Summary
    • Post-Match Processing
      • Settlement
      • User Funds
      • Collateral Optimization Engine
        • Trade Collateralization
        • Portfolio Collateralization
          • Example 1
          • Example 2
  • Ithaca App
    • Get Started
      • Connect to the Ithaca App
      • Depositing Arbitrum USDC and WETH
      • Depositing Other Funds and Funds From Other Chains
      • Choose Your Journey and Get Started
    • App Overview
    • Dashboard
    • Trading
      • Market
        • Options
        • Digital Options
        • Forwards
      • Stories
        • Bet
        • Risky Earn
        • Riskless Earn
        • No Gain, No Payin’
        • Bonus | Twin-Win
        • Barriers
          • Up-and-In Call Option
          • Up-and-Out Call Option
          • Down-and-In Put Option
          • Down-and-Out Put Option
      • Position Builder
      • Dynamic Option Strategies
        • Spreads
        • Risk Reversal
        • Ladders
        • Straddles & Strangles
        • Condors
        • Butterflies
    • Analytics
    • Staking
  • Ecosystem
    • Progressive Decentralization
    • Airdrops
      • Season One
        • Earning Points
        • Trading Points
          • Fills
          • Orders
          • Bespoke Trading Incentives
        • Engagement Points
          • Social Engagement
          • Referrals
        • Badges and Special Points
        • Point Activation - Sybil Resistance
        • Halvings
        • Get Started - Points
      • $ITHACA Airdrop Claim Instructions
    • Fees
  • Agents
    • Agents Overview
    • Fee System
    • FAQ
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  • Basic Fee Structure
  • Conditional Order Multi-Leg Discount
  • Fee Caps

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  1. Ecosystem

Fees

The fees payable by users to the protocol will be proportional to the notional of filled orders. Fees will be settled in stablecoin posted together with collateral at time of pre-auction order submission.

Fees are determined at the risk sharing building block level.

The notional referenced for fee calculations is based on the median strike offered by the protocol at relevant expiry, which is designed to be the closest to prevalent spot.

Basic Fee Structure

Forward fee: 0.01% of notional

Option fee: 0.04% of notional

Digital Option fee: 1% of notional

Conditional Order Multi-Leg Discount

Further, all conditional orders benefit for fee discounting based on the number of legs included.

This discount parameter is biased towards encouraging experimentation with the multi-legged conditional order Ithaca framework.

Discount parameter 1 (d1): 80%

Discount parameter 2 (d2): 5%

Discount formula: additive fees x [ d1 - ( { # legs ( ex forwards ) - 2 } x d2 ]

Fee Caps

Fees are capped at 12.5% of option premia and 25% of digital option premia.

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Last updated 9 months ago

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