# Rebates

**Trading Rebates in USDC & The VIP tier for MMF holders**

<figure><img src="https://2838788767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FUIMfgqUwG7v2zXo4zZDC%2Fuploads%2FzyYGgg9uomoHschGEtZr%2Fimage.png?alt=media&#x26;token=2e5b9f2c-d414-4da1-804a-11cab71b00ad" alt=""><figcaption></figcaption></figure>

Receive up to 50% trading fee rebates in the form of USDC when you stake MMF into the rebate funding wallet.

Receive to 100% trading fee rebates in the form of USDC when you qualify for the highest tier & have enabled deduction of MMF.

Purchase MMF tokens here: <https://polymm.finance/swap>\\

## How it works?

Simply put, traders will be required to buy and hold MMF tokens when they trade on our perpetual exchange. They will then receive trading fee rebates in the form of USDC based on the VIP tier they have. In short, trading fees are heavily subsidized even when you open leveraged positions with us.

**≥** 10,000 MMF — additional 5% discount for traders (via trading rebates in the form of USDC)

**≥** 20,000 MMF — additional 15% discount for traders (via trading rebates in the form of USDC)

**≥** 50,000 MMF — additional 30% discount for traders (via trading rebates in the form of USDC)

**≥** 100,000 MMF — additional 50% discount for traders (via trading rebates in the form of USDC)

\*These additional fee rebates are on top of the tiered rebates above. Eg, if you are tier 3 and you also hold 100,000 MMF, you will get the maximum possible trading rebates.

Discount for traders: 10% (discount from referrals) + 50% (rebates from VIP tier) = 60% lowered fees from discount + rebates

This brings the effective trading fees down to 0.04% 🔥 (this makes MadMex the lowest fees leverage dex on entire defi space!)

## When and how do i get trading fee rebates?

Trading fees rebates are calculated and a snapshot is taken weekly on every Wednesday — might vary due to timezone) and rebates are distributed every Thursday.\
\
Do ensure that you need to have your MMF in your funding wallet by Wednesday (before the snapshot).\
\
And also, you will need to have MMF amounts in your funding wallet on Thursday (when we distribute the rebates so we can process the deductions and rebate accordingly).

You will be required to deposit your MMF into our trading rebates funding wallet. Remember to toggle on "Enable Fee Rebates" to get your rebates in USDC. This enabling will allow us to track onchain who opted in for this USDC rebate program.\\

<figure><img src="https://2838788767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FUIMfgqUwG7v2zXo4zZDC%2Fuploads%2FciO9C72pe8ghn2rd8cb4%2FScreenshot%202022-09-08%20at%2011.56.51%20AM.png?alt=media&#x26;token=9cdd9ed6-59cb-40d6-a1a2-84d161121f0e" alt=""><figcaption></figcaption></figure>

## What does 'enable deduct MMF' do?

When you toggle that on, MMF will be deducted from your wallet and you will receive equivalent amount in USDC!\
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Heres some example:\
\
Trader Alpha incurred $100 in trading fees this week\
He staked 100,000 MMF on MadMex funding wallet and qualify for 50% trade rebates\
He will receive $50 back in trading fees in the form of USDC\
\
Trader Utan incurred $100 in trading fees this week\
He staked 100,000 MMF on MadMex funding wallet and qualify for 50% trade rebates\
He also enabled deducting of MMF\
He will receive 2x$50 = $100 back in trading fees in the form of USDC\
However, $50 of MMF will be deducted from his funding wallet\
\
Trader Canva incurred $100 in trading fees this week\
He staked 50,000 MMF on MadMex funding wallet and qualify for 30% trade rebates\
He will receive $30 back in trading fees in the form of USDC\
\
Trader Sequence incurred $100 in trading fees this week\
He staked 50,000 MMF on MadMex funding wallet and qualify for 30% trade rebates\
He also enabled deducting of MMF\
He will receive 2x$30 = $60 back in trading fees in the form of USDC\
However, $30 of MMF will be deducted from his funding wallet\\

<figure><img src="https://2838788767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FUIMfgqUwG7v2zXo4zZDC%2Fuploads%2FCm6uRjmPrvCPamUXrySs%2FScreenshot%202022-09-08%20at%2011.51.57%20AM.png?alt=media&#x26;token=b66d74fa-09d0-41f8-acac-d440210164ea" alt=""><figcaption></figcaption></figure>

## What will your team do with the MMF tokens? <a href="#d4ba" id="d4ba"></a>

These MMF tokens that are being taken as trading fees by our team will be sent to our DSF DAO to reinforce the DSF peg.

Sometimes, our team will perform discretionary burns of these MMF fees to lower its supply if we chance upon certain months with abnormally high trading volume.
