For the first three months of launch, GO.Exchange will use 100% of its trading fees to burn OMG. This OMG burn will last for 3 months from the date of launch, June 25th, 2019. During this three month period, GO.Exchange will also use the OMG token as a discount token. Users who hold more than 500 OMGs in their GO.Exchange account will receive a 50% discount cash back on trading fees.
Example of OMG Discount functionality:
If a user holds at least 500 OMG then the standard fee of 0.1% would be discounted by 50% to 0.05%. If the non discounted fee was, for example, 0.05 ETH, a user who holds at least 500 OMG will only need to pay 0.025 ETH. However, upon trade, the user will still pay the full 0.05 ETH, but will receive the 0.025 ETH (and any other discounted fees) approximately five minutes after the trade is made.
GO.Exchange reserves the right to change this promotion at any time and without notice. Again, this is a temporary 3 month promotional event.