Fees | Royalties
Stripto offers 'the lowest service fee in the space'. Additionally, Stripto offers a wide range of royalties* based on the user levels.
> Fee [Lowest in the space]
Minting/Listing
Trading Fee
Positive Stripping Pricing Model (PSPM)
Negative Stripping Pricing Model (NSPM)
Network Fee
Network fees are charged by the blockchain network that the NFT contract is deployed on when traders execute transactions on the network. The amount of these fees is both network and load-dependent and is outside of the control of Stripto.
Stripto has nothing to do with the Network fee. Stripto can not collect the Network fee in full or partial payments. This fee goes to node providers verifying transaction(s) on the respective blockchain.
Smart Contracts & Fees
On EVM chains, the fees payable are added to the sale price before sending to the buyer's connected wallet for authorization and signing. On Ethereum and BSC, the fee is not included in the amount signed for but is charged within the smart contract.
In both cases, the price paid by the buyer includes all fees, and they are detailed at the time of purchase.
> Royalties
Basic User: 0-5%
Advanced User: 0-10%
Super User: 0-20%
The user levels are assigned based on several factors, including the user's weekly volume, KYC status, exclusive access to popular artists/projects, etc.
These numbers can vary depending on the traction in the marketplace and community feedback.
> Refund
Stripto takes the transparency of the trading engine seriously. The following sections detail our refund policy to offer complete transparency to our users.
Refund of STRIP tokens during simultaneous stripping (two or more than two participants at a given time):
In this situation, there are multiple users participating in a process called "Stripping or Strip the price" which involves buying an NFT with a collective mass price reduction mechanism. These users are able to see the price of the NFT going down over a period of 15 seconds, and the price will continue to drop at a faster rate as more users enter the process. However, only one of the users will be able to quickly make a decision and complete the transaction before the price drops any further.
Assuming:
NFT Listed Price: $1,000
STRIP token market price: $1
Required token per Stripping action: 1% of the listed price (i.e., STRIP tokens worth $10)
Sold Price: The price at which the trade was concluded on the blockchain.
Here, three different scenarios are mentioned that make the user(s) eligible for a refund.
~ If User A completes the transaction at $990 (Sold price) before everyone else, all the following users (B to J) will get a 100% refund of their tokens spent on the stripping. This is because the number of tokens they spent to lower the price was actually NOT consumed since the 'Sold Price' was higher.
~ If User E completes the transaction at $950 (Sold price) before everyone else, all the following users (F to J) will get a 100% refund of their tokens spent on the stripping. However, users (A to D) will not be eligible for any refund since their tokens have been consumed in the process of dropping the price to $995.
~ If User J completes the transaction at $900 (Sold price) before everyone else, users (A to I) will not be eligible for any refund since their tokens have been consumed in the process of dropping the price to $900.
To sum up, all of the following users who spent tokens via stripping after the trade concluded at the 'Sold Price', should receive a refund of their tokens. This is because the number of tokens they spent to lower the price was actually NOT consumed since the 'Sold Price' was higher. Also, they were not able to complete the transaction, so they did not actually buy the NFT. Instead, they will get their 100% tokens back and have to wait for another opportunity to buy another NFT if they are still interested. This makes the whole stripping experience fair and transparent.
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