Tax and Fee System
In the vibrant world of Grinstep, users are required to pay taxes and fees for certain in-app activities. These charges contribute to the maintenance and development of the platform, ensuring a thriving ecosystem for all participants. Let's explore the tax and fee structure in more detail:
Marketplace Trading Fee:
When users engage in trading activities on the marketplace, a trading fee of 2% is charged on the transaction value.
This fee helps cover the operational costs of facilitating secure and efficient transactions within the marketplace.
Marketplace Royalty Fee:
The marketplace royalty fee is an amount of 4% that is payable to the NFT creators.
This fee is a token of appreciation for the creativity and artistry of the NFT creators whose works are bought and sold on the marketplace.
It supports the NFT ecosystem and encourages further artistic contributions.
Sneaker Minting:
When users mint new sneakers within the game, a minting fee of 6% is levied on the total value of the minted sneakers.
This fee covers the costs associated with the minting process and ensures the integrity of the sneaker creation system.
Sneaker Renting:
Users who engage in the sneaker renting feature are subject to an 8% fee on the rental transaction.
This fee helps manage and maintain the sneaker rental infrastructure, providing a seamless experience for both renters and owners.
Tax and Fee System Table:
Here's an overview of the tax and fee system in Grinstep:
| In-App Activity | Tax (%) |
|---|---|
Marketplace Trading | 2 |
Marketplace Royalty | 4 |
Sneaker Minting | 6 |
Sneaker Renting | 8 |
NFT creators are eligible to receive the royalty fee, which recognizes their creative contributions to the Grinstep universe. This fee is an integral part of supporting and incentivizing the NFT creator community.
Please be aware that the taxes and fees mentioned above are designed to ensure the sustainability and growth of Grinstep, enabling continuous development and opportunities for all participants.
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