Hey Team - Thanks for setting up the AMA and making some time for questions. I'll likely have more, but for now:
- Has there been any consideration in lowering the cross-chain withdrawal fees for outflow from the exchange?
I realize there is some benefit to drive users to convert to vite in order to reduce the cost of outflow. However, with withdraw fees being so high, many people may see that and avoid Vitex altogether. When you have exchanges such as Binance that charge 0.005 to withdraw ETH and Vitex sits at 0.015 it gets a little absurd. I understand gas prices get high, and an increase could be justified. But on a regular basis it's just ridiculously/unnecessarily high.
Same goes for BTC. And Same for USDT, etc. If I'm an EPIC holder (just a hypothetical) and it only trades in BTC; or if I'm a BAN holder and it only trades in ETH ... and I am considering using Vitex ... I'd definitely FIRST look at the withdraw fees before I move funds into Vitex. And if I didn't look, and then saw that, I'd be shocked at how cost-prohibitive the withdraw would be, and avoid in future.
My point is, there is little upside (revenue) for high fees and significant downside. Perhaps you see it differently.