There is no Anthic token planned. Instead Anthic will launch using XRD as a core part of its economic model on Radix. It details a fee model that focuses on a collaborative approach for XRD token holders and Radix DEXs, where 100% of the fees earned go into buying XRD, and 70% are either shared with Anthic integrated DEXs or locked from the circulating XRD supply.
All details in this blog post are provisional, but it outlines the target launch economics of Anthic.
Anthic Revenue Model
Anthic operates with a maker-taker fee model:
- Maker Fees: At launch, there is no fee for makers. This aims to quickly build market depth and improve pricing for end users.
- Taker Fees: A standard fee of 0.1% is applied to trades via the Taker API, subject to the discounts and incentives outlined below.
- Fee Discounts: Anthic offers a progressive fee discount structure based on holdings of staked Radix tokens (LSUs) and monthly traded volume.
Fees are either paid in XRD or paid from the balance of tokens being traded.
Supporting the Radix Ecosystem
Anthic’s economic model at launch is aimed at supporting Radix ecosystem growth.
In accordance with this model 100% of Anthic fees will be periodically converted into XRD via direct market purchases. Once purchased, this XRD will be split in the following way:
- Circulation Lock: 40% will be locked away and removed from circulating XRD supply.
- DEX Integrations: 30% will be paid to DEXs; paid out in proportion to the monthly trade volume they bring to Anthic.
- Development Fund: 30% will go towards supporting Anthic’s development, marketing, business development and operations.
User Incentive Structure
Anthic rewards Radix ecosystem loyalty by providing fee reductions based on trading volume and the XRD value of Staked Radix (LSU) holdings:
| Level | 30 Day $ Volume* | and/or | XRD in LSU | Maker/Taker Fee |
|----------|------------------|--------|-------------|-----------------|
| Standard | < $10,000 | or | < 75,000 | 0.00% / 0.10% |
| VIP 1 | ≥ $25,000 | and | ≥ 75,000 | 0.00% / 0.09% |
| VIP 2 | ≥ $200,000 | and | ≥ 300,000 | 0.00% / 0.08% |
| VIP 3 | ≥ $1,000,000 | and | ≥ 750,000 | 0.00% / 0.07% |
| VIP 4 | ≥ $5,000,000 | and | ≥ 1,500,000 | 0.00% / 0.06% |
| VIP 5 | ≥ $10,000,000 | and | ≥ 3,000,000 | 0.00% / 0.05% |*At launch, traded volume is measured in dollar equivalent traded value and applied per account interacting with Anthic. Each account is measured separately. The account must also hold the relevant LSU Balance for the discount to apply.
This fee table will be adjusted over time as more usage information is gathered once Anthic is live. Any changes will generally be made with at least 1 month’s notice.
Fee Share Distribution to DEXs
Since Anthic does not have its own trading front end, it depends on integrations with DEXs to drive user trading volume. To reward DEXs that actively bring users to trade through Anthic and expand the Radix trading community, Anthic will share 30% of all trading fees with integrated* DEXs.
At launch, the fee share will be distributed proportionally based on the taker trading volume each DEX contributes. For example, if the total DEX-driven taker volume on Anthic in a given month is $100 million, and one DEX accounts for $50 million of that, then that DEX would receive 50% of the monthly DEX fee share.
These fees will be paid in XRD and may be used however the DEX team wishes. The Anthic goal is to provide DEXs with more fire power to keep building great products that engage and grow their user base on Radix.
*To be included as an integrated DEX, DEXs must register with Anthic to receive an authenticated API. Calls via the open Anthic API will not be counted towards DEX-driven taker volume.
Conclusion
The Anthic economics are designed to align Radix community incentives with Anthic’s use and ecosystem growth. It does this by supporting XRD holders, Radix dApps and their users.
