Reduced Fees for PROM Holders

Overview The lower the fees for PROM holders, the higher the platform’s earnings will be because reduced commissions will encourage players to make more transactions.

The Logic To support and upgrade the platform, every platform has to charge commissions. For instance, Prom charges fees for all successful transactions. In most cases, their rates depend on game publishers who can set their own prices. However, Prom can regulate its own fees and reduce them for holders that are loyal members of the Prom community.

Details Reduced fees are available for holders who have at least 500 PROM tokens. Fees should decrease by 0.5%. Other sums to hold and discounts may be proposed in new proposals.

Advantages This approach will:

• Increase the number of PROM holders.
• Help users to save money and use it for other gaming needs.
• Boost NFT sales.

References The reduced fees model is common for blockchain projects of all kinds. Cryptocurrency exchanges launched their own tokens that decreased commissions. For instance, in 2017, Binance introduced its Binance Coin (BNB) to discount trading fees. Meanwhile, such crypto startups as DEXTools also provide users with benefits.