Fees and Commissions
Intotes applies a percentage-based fee on every trade. Fees are charged to both the buyer and the seller at the time of execution.
Fee Calculation​
The fee percentage is configured at the platform level (the lmsr.FeePercent setting) and applies uniformly to all trades on both orderbook and LMSR AMM markets.
Buying​
When you buy tokens, the fee is added on top of the execution price:
cost = price * (1 + fee%)
Example: You buy YES tokens at a price of 6000 (60%) with a 2% fee:
cost = 6000 * (1 + 0.02) = 6000 * 1.02 = 6120 per share
You pay 6120 cents per share. Of that, 6000 goes to the seller (or AMM) and 120 is the fee.
Selling​
When you sell tokens, the fee is deducted from the execution price:
payout = price * (1 - fee%)
Example: You sell YES tokens at a price of 6000 (60%) with a 2% fee:
payout = 6000 * (1 - 0.02) = 6000 * 0.98 = 5880 per share
You receive 5880 cents per share. The remaining 120 is the fee.
Fee Summary Table​
| Action | Formula | You Pay / Receive |
|---|---|---|
| Buy | price * (1 + fee%) | You pay more than the raw price |
| Sell | price * (1 - fee%) | You receive less than the raw price |
Referral Fee Distribution​
A portion of every collected fee is distributed to users who referred the trader, across three levels of the referral chain:
| Level | Relationship | Share of Fee |
|---|---|---|
| Level 1 | Direct referrer | 15% of the fee |
| Level 2 | Referrer's referrer | 4% of the fee |
| Level 3 | Three levels up | 1% of the fee |
| Platform | Remainder | 80% of the fee |
Referral Example​
A trade generates a fee of 120 cents. The trader was referred by User A, who was referred by User B, who was referred by User C:
| Recipient | Calculation | Amount |
|---|---|---|
| User A (L1) | 120 * 15% | 18 cents |
| User B (L2) | 120 * 4% | 4.8 cents |
| User C (L3) | 120 * 1% | 1.2 cents |
| Platform | 120 * 80% | 96 cents |
If any referral level is missing (e.g., the trader has no referrer), that portion stays with the platform.
Key Points​
- Fees are applied per trade, not per order. A single order that fills in multiple trades incurs fees on each individual trade.
- Both sides of a trade pay fees independently. The buyer pays
price * (1 + fee%)and the seller receivesprice * (1 - fee%). - The fee percentage is the same for orderbook trades and LMSR AMM trades.
- Referral payouts are credited to referrers' balances automatically after each trade.
See Also​
- Placing Orders -- How to submit orders
- AMM Trading -- Fees in the context of LMSR trades
- Matching Engine -- How trades are executed in orderbook markets