WOO X will use TWAP (Time-weighted Average Price) to calculate the WOO token price for the commissions and rebates. The system will convert the rewards to WOO at the average market price per minute daily.
WOO TWAP = 1 day line’s amount/1 day line’s volume
- Referral commissions:
- Total commissions in USD value = trading volume * X% referral bps (Based on your staking tier)
- Total commissions of WOO to referrer = Total rebate USD value / WOO TWAP
- (Non-API) Taker Trading volume* Rebate BPs / WOO TWAP
- For example: Your taker trading volume is 1M on Jan 1st, and you are in tier 4 (Taker rebate is 0.15bps). The TWAP price of WOO is $0.9 on Jan 1st. The calculation will be - ($1M*0.000015)/0.9 = 16.67 WOO. That is the rebate you will receive on Jan 2nd.