VUB (Virtual UB)
Last updated
Last updated
VUB is a Virtual Currency which allows gasless* transactions to take place at a click of a button. Example 1: 1% Trading Fee on 79 trades totalling $70,000 = $700 (1% of the 10k) to pay in ETH (+ charge for process, in peak market conditions this could easily be an additional $750-$1,000 on top, 79 transactions x $10-25 Gas Fees Each) Total $700 (1% Trading Fee) + $790 (Gas Fees) = $1,490 (Approx. 0.60 ETH) Example 2: 1% Trading Fee on trades totalling $70,000 = $700 to pay in VUB (No worry of high gas fees, regardless of market conditions this will not change and remain $0) ā ļø A note for Example 2, even though you wont be hit with gas charges for paying trading fees vs competitors as shown above in Example 1, this does not exclude the standard gas charges to buy/sell the actual tokens. VUB cannot not be used to cover this process *Trades will still incur blockchain fees which are outside the control of any project owner, in this case UTOPIA, competitor trading tools typically charge ETH direct when making your trades. This system using VUB allows you to pay these without the need for high gas charges, some examples are as follows: