Eterbase has introduced a range of innovatory features, including premium memberships, in order to become one of the most trusted crypto exchanges in the industry. The exchange made an official announcement through a detailed Medium blog post on September 29, 2019. Eterbase, launched in June this year, after conducting its ICO last year in Q4, is the first European digital currency exchange that is regulation-compliant.
— ETERBASE (@ETERBASE) September 29, 2019
The crypto exchange believes that the addition of these new features will help shape the entity moving forward. So, let’s explore what the new features are all about.
Eterbase’s premium memberships will incentivize market participants and token holders to utilize their utility tokens of XBASE/XBASE-B in such a manner that it benefits them in the long-run.
As per the announcement post, any user can avail the Premium Membership by depositing and locking XBASE-B or XBASE on the exchange. The benefit here is that the users will be able to unlock these tokens at any time they please. What that means is, users with Premium Memberships won’t have to lock their tokens for a prolonged duration.
The Premium Membership is divided into 9 tiers, starting with Premium 1 Membership to Premium 9 Membership. While the P1 Membership requires locking of 1,000 XBASE or XBASE-B, the Premium 9 members need to lock 5,000,000 XBASE or XBASE-B. All in all, the number of tokens to be locked varies with the membership tier.
Benefits of Premium Membership:
The Premium Members on the exchange will enjoy certain benefits such as discounted withdrawal fee, the capability of trading with a negative fee, and getting timely airdrops. The entity intends to add more advantages in the future, says the blog.
Negative Trading Fees:
Cited as one of the most significant Premium membership advantages, it will incentivize market makers, heavy traders, and regular users to perform more trades on the platform.
Beginning with its Premium 4 Membership, Eterbase charges nothing as its maker fee. In fact, the market maker actually gets to earn up to 50 percent of the fees which the market taker pays for a particular trade. Eterbase also revealed that it would pay negative trading fees in the trade’s base currency. Thus, users will obtain ETH, BTC, EURBASE, USDT, EUR, and XBASE on a continual basis.
Eterbase has come up with 3 kinds of airdrops that it will be consistently offering its Premium members – EURBASE Airdrops, General and Treasury Airdrops.
The EBASE or EURBASE is the first stablecoin which is anti-inflationary. It has 100 percent backing by EUR deposits and partial by Bitcoin and other cryptos. Eterbase has planned to airdrop EURBASE daily to its Premium members, starting from 0.01 for P2 and leading up to 10 EBASE for P9 Members.
The exchange, along with its partners, would also be conducting airdrops of other coins, notes the post. New projects are mandated to provide a certain amount of their tokens upon their listing on the exchange; this amount would be airdropped to the Premium members.
Eterbase Treasury Gateway partners, on the other hand, would have to provide fees for utilizing the services in their native coins which would again be airdropped to the Premium members.
Withdrawal Limits and Discounts:
Eterbase will provide all the Premium members who have also passed the KYC, with a withdrawal limit of 100,000 EUR each day. For the users without the KYC, the withdrawal limit will be 1,000 EUR each day.
There will be withdrawal discounts as well for the Premium members, ranging from 10 percent for the P4 members to 50 percent for the P9 members.
If that was not all, there is a cost-free deposit, as well as direct fiat withdrawal, for all the users at the fixed fees of 0.8 dollars.
While concluding, the post reveals that Eterbase will release the new dashboard and UI very soon, followed by a video explaining all the advantages of the Premium Memberships.