Premium Memberships for Eterbase are not necessarily a new concept, however, we feel it’s important to understand how they function. They play an essential role in our exchange by incentivising token holders and market participants to use their XBASE/XBASE-B utility tokens in a way that benefits them long-term.
So how do they work?
The concept is simple — any user can deposit XBASE or XBASE-B on the exchange and lock them to become a Premium Member. The tokens can be unlocked at any point in time, meaning that if you do choose to become a Premium Member, you won’t be forced to hold your tokens locked for an extended period of time.
The number of tokens you have to lock varies from 1,000 XBASE / XBASE-B for our Premium 1 Membership, all the way to 5,000,000 XBASE / XBASE-B for our Premium 9 Membership.
The table below shows the membership levels in detail:
These memberships allow users to trade with negative fees, get timely airdrops and have discounted withdrawal fees. At the same time, projects that use some of Eterbase’s services (such as the treasury gateway) are required to become Premium Members.
In the long-run, we expect these membership models to contribute to a large percentage of the circulating supply being locked on the exchange since every individual Premium 8 and Premium 9 membership requires 0.1% and 0.5% respectively of our total token supply to be locked.
We are constantly working on business development with the aim where possible to create further utility for our token and increased benefits to our Premium Members.