Hi bro, I am Lunc holders and have some experience in

trading.

I understand the frustration of the community.

Let me put myself in the shoe of as a CEO of binance, traders and holders.

For example:

As a CEO of an exchanges, I earn a lot from trading fees.

And trading fee in binance is about between 0.02% to 0.1% per trade. (The higher the tier the lower the fees).

If I were to suddenly increase the trading fee from 0.1% to 1.2%.

Now, my traders would need to pay 10 times from fees alone.

Would the trader still trade at a fee like that?

Most of the time, the market is moving sideways, after trending upwards or downwards.

So most of the traders are actually scalpers which aims for profit of maybe 0.2% to 1% on a ranging market.

And Binance would probably have their own traders who trade manually or on a robot.

Although in crypto trading 95% will lose money in trading.

100% of them still need to pay trading fee, no matter what is the outcome.

If most traders aim for average 1% profit per trade,

They will definitely go another trading pairs with the lower fees.

Then volume will drop drastically.

However, these scalpers can have anywhere between 20-100 trades per day.

Let say, we reduce the burn tax to say about 0.02% per trade, since the actual trading fee is between (0.02%- 0.1%).

It is still within the traders capability to pay the trading fee.

So, if the scalpers open 20-100 trades per day.

20 trades x 0.02%= 0.4%
100 trades x 0.02% = 2%

We will get about average 1.2% burn tax per day which is awesome.

Of course as a holder, we want CZ to implement those tax to reduce our supply rapidly.

So my take is, we have to make it into a win-win situation.

Maybe for on chain tax of 1.2% is fine.

But for spot trading even a tax of 0.02% can have huge impact due to the high number of trades executed.

Yes, it seems scheming to impose the 3 steps for the voting and 50% volume trade and so on.

I think the underlying message that CZ wants to tell us is to let us have a taste of being a trader.

And put ourselves in his shoe and the traders.

And also, in a way to tell us to lower the tax such that it is beneficial for him, traders and the community.

tooooo lazy to read all of that ! come on its 4:22 am here

All true. However CZ can make his own decision to reduce tax %. Doesn’t need vote from us. He has data on average trade volumes per user type so he could impose an appropriate % tax.

Good opinions, I agree