Author: Black Mario
Previously, @okx and @Gate successively announced the integration of Robinhood Chain and supported zero Gas transactions, mainly covering Swap scenarios.
I initially thought that these two exchanges were subsidizing with their own money and operating at a loss.
But later I roughly looked into it, and actually the money for Gas subsidies does not have to come from the exchanges themselves, and there is even quite a bit of profit.
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Based on the trading volume, number of trades from both exchanges, and the average Gas fee on Robinhood Chain, estimated roughly by the function going live until the afternoon of September 8:
The total Gas subsidized by both exchanges is approximately around 130,000 to 150,000 USD.
Most of which comes from OKX, while Gate has only been online for about a day, currently accounting for a relatively small portion.
And the main path for Dogecoin does charge a fee.
If calculated at a 0.5% transaction fee, combined with the current trading scale:
The transaction fee income during the same period has likely exceeded 700,000 USD.
In other words, just looking at the transaction fees, it is very likely already sufficient to cover the Gas subsidies.
For example, for a $100 Meme Swap:
The platform collects a $0.5 transaction fee, and the Gas paid on behalf of users might only be $0.1–0.2.
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It seems to be exempting users from Gas fees; in reality, it's just taking a portion from the transaction fees to solve the most troublesome on-chain costs for users.
Moreover, users do not need to withdraw coins and do not need to prepare ETH additionally.
Funds continue to stay in CEX accounts, and may continue to do spot trading, contracts, and wealth management, even bring more deposits and trades.
So OKX and Gate used tens of thousands of dollars in Gas costs
to further obtain the Meme trading entry point on Robinhood Chain, user retention, and capital accumulation.
Looking at this business alone, it can be said to be quite cost-effective.
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