Future Fee Structure

Currently being updated.

Fees are a critical lever for building alignment with all parties in the Immutable X ecosystem. We actively want users and developers to sustainably build tools on top of our protocol - improving the liquidity of our ecosystem will make Immutable X more useful for everyone.

At the moment, there is substantial misalignment between users and developers. This limits developers' incentive to innovate on behalf of users - we actively want developers to be able to guarantee a fee from secondary trading: this encourages them to create features and mechanics that a) increase the price of user assets and b) encourage turnover on user assets.

Our goal is to develop a fee structure which aligns the incentives of users and all the other parties in the ecosystem. In particular, Immutable X offers a guaranteed fee to "application developers" (the original minters of the NFT).

It is important to note that the first versions of Immutable X will not support fee capture (either by Immutable or by third party marketplaces). If you're building a marketplace, and want to use this functionality as soon as it's available, please reach out!

Future Fee Structure

Fees on Immutable X are calculated according to the following parameters, which are subject to change at any time:

Fee Parameter

Description

Current Value

Immutable Fee

The fee which Immutable receives for providing and improving the protocol. This fee is paid by the seller.

1-2%

Default Application Fee

The fee application developers receive from trades of assets in their application. This fee is paid by the seller.

0.5%

Minimum Application Fee

The enforced minimum applicationFee.

N/A

Maximum Application Fee

The enforced maximum applicationFee.

N/A

Minimum Maker Order Creator Fee

The enforced minimum fee an order creator can take from the trade's maker.

N/A

Maximum Maker Order Creator Fee

The enforced maximum fee an order creator can take from the trade's maker.

N/A

Minimum Taker Order Creator Fee

The enforced minimum fee an order creator can take from the trade's taker.

N/A

Maximum Taker Order Creator Fee

The enforced maximum fee an order creator can take from the trade's taker.

N/A

To understand this model, consider a quick example. A user goes to a private marketplace for assets from Gods Unchained, and lists their Demogorgon card for 1 ETH on Marketplace A. Another user finds this card on Marketplace B and buys the card. The fee on this transaction (with example numbers - and likely too high) will be:

  • Immutable's immutableFee on the seller (1%)
  • Gods Unchained's applicationFee on the seller (0.5%)
  • Marketplace A's makerFee on the seller (0.5%)
  • Marketplace A's takerFee on the buyer (0.5%)
  • Marketplace B's makerFee on the buyer (0.5%)
  • Marketplace B's takerFee on the seller (0.5%)

In this case, the seller's total fee is 2.5% and the buyer's fee is 1%. This means that the buyer of the NFT would pay 1.01 ETH (101% of 1 ETH) and the seller would receive 0.975 ETH (97.5% of 1 ETH). The total amount of fees collected would be 0.035 ETH (3.5% of the overall transaction's value).

Immutable X will pay out these fees immediately after each transaction is confirmed. This means that each party hoping to collect fees must have registered an Immutable X account, but it allows the settlement of fees to also be gasless.

Taking Marketplace Fees

To take a fee from an order at the time of submission, add a fees object when submitting the order (either to the orderbook or as a completed trade). Any fees will be calculated in addition to the base Immutable and application fees. You can specify multiple Ethereum addresses which should receive the fees. Fees should be specified as exact numbers, in the base unit of the token in which they are taken.

{
 // ^^ regular order parameters ^^
 "fees": {
   "maker": {
     "0x...": "100000",
     "0x...": "400000"
   },
   "taker": {
    "0x...": "100000",
    "0x...": "400000"
   }
 }
}

We recommend not using low fees as the only differentiator for your marketplace - more nuanced fees, however, could be appropriate to your marketplace's strategy.

Taking Application Fees

By default, every application on Immutable X will receive a 0.5% fee from trades. Applications are able to customise this if desired by contacting Immutable directly. However, we again recommend you do not use this as a point of differentiation against other applications - our experience shows that users are willing to pay higher fees for a better product, and that this won't factor significantly into their usage choices.

In future, Immutable X will allow applications to customise the fee they receive on a per-order basis.


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