Exit Fees
Exit FeesΒΆ
As a final circumspection against bad behavior, exit fees are introduced into the Bancor ecosystem for the first time. The exit fee is designed to temper the profit motive of the imagined exploit vector. Fortuitously, the severity of the speculative attack is fairly minor, and a 0.25% exit fee is sufficient to render it void. The exit fee is treated as a relief mechanism, and allows the pools from which a withdrawal is processed to retain a small amount of residual value, which alleviates the insurance burden by the same amount. It also serves a financial purpose in defining a geometric surface, beneath which users can withdraw their stake entirely in its own denomination, regardless of the relative surplus or deficit state of the network. This point is discussed in detail while addressing the behavior of the withdrawal algorithm.
# Define the global exit fee
withdrawal_fee: Decimal = Decimal("0.002")
The Bancordefault system settings can be viewed or modified via the following usage:
# View or modify the default global settings
from bancor_research.bancor_simulator.v3.spec.state import GlobalSettings
GlobalSettings().withdrawal_fee
Decimal('0.0025')
Each global settings should adhear to the data type as specified above.