For a while there's been something annoying about FTX referral accounting.
All of the ref fees are paid out, but it often takes a day to do so.
That means that they will sometimes show up in the next day's bucket.
2) Going forward, this should be cleaner; each day's referral fees should correspond exactly to trades that happened on that (previous) day.
This should make it easier to track what's going on.
We're also considering changing the interaction of FTT with fee tier 6.
3) Fee tier is is capped at 3bps taker post-referral; this means if someone was fee tier 6, and had $5k of FTT making their actual fees ~3.5bps, then they would only give ~0.5bps of ref fees.
We're considering changing this to be a 3bp min pre-FTT.
4) We're also working on a referral system for Blockfolio; thoughts welcome!
5) Again, the actual payments have always been correct; but now they'll hopefully show up on the intuitive day as well.
Note that it might still take a day or so to generate them!
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"Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets, including Bitcoin, on the GDAX electronic trading platform it operated."
If Nomi hadn't fucked up, maybe SUSHI would be at $100.
If the team hadn't built, maybe it would be at $1.
But it had a shot, because much of what we thought was sacred was in fact chasing yield.
3) There are people whose beliefs in a product or a chain will always dominate other factors.
But most of the people you see using something aren't trying to express their faith. Most people are still searching, and using whatever seems best for them at the time.