Orders — Fees
Orders — Fees
Clear, plain‑English explanation of fees for escrowed buy and sell orders on PINX — what’s charged on fills, cancels, and expiries, and how your net is calculated before you confirm.
Successful trade fill
2.00% of the filled notional (USDC value), applied per filled slice.
User cancel
0.10% of the remaining unfilled escrow (USDC for buys, asset for sells).
Order expiry
0.10% of the remaining unfilled escrow at the time limit.
| Action | Side | Fee | Base | When it applies | What you receive |
|---|---|---|---|---|---|
| Successful Trade Fill | Buy & Sell | 2.00% | Trade notional (USDC value) | At the moment an order (or slice) fills | Buy: net assets; Sell: net USDC |
| User Cancel | Buy & Sell | 0.10% | Remaining unfilled amount | When you cancel an open/partial order | Buy: USDC refund minus 0.10%; Sell: asset refund minus 0.10% |
| Order Expiry | Buy & Sell | 0.10% | Remaining unfilled amount | Automatically at time limit | Buy: unfilled USDC minus 0.10%; Sell: unfilled asset minus 0.10% |
- Buy orders — the unused USDC still held in escrow.
- Sell orders — the unsold asset still held in escrow.
All fees are shown up front. You’ll always see gross vs. net before signing.
Fee timeline
Place Order → Funds held in escrow ├─ If Filled: ► 2.00% trade fee on filled notional ├─ If Cancelled: ► 0.10% on remaining unfilled (USDC for buys, asset for sells) └─ If Expired: ► 0.10% on remaining unfilled (USDC for buys, asset for sells)
Buy orders
- You escrow USDC.
- On each filled slice, a 2.00% fee is charged on the filled notional.
- If you cancel or the order expires, 0.10% is applied to the unused USDC still in escrow; you receive the net refund.
Sell orders
- You escrow the asset (e.g., TSLA token).
- On each filled slice, a 2.00% fee is charged on the USDC notional; you receive net USDC.
- If you cancel or the order expires, 0.10% is deducted in‑kind from the unsold asset; you receive the net asset back.
Worked examples
Numbers below are illustrative. The app always shows exact amounts before you sign.
Example A — Buy order you cancel before any fill
- You place a $10,000 buy.
- No matches occur. You cancel.
- Cancel fee (0.10%) = $10 on the unused $10,000.
- Refund to you = $9,990 USDC.
Example B — Buy order with partial fill, then cancel
- You place a $10,000 buy.
- $6,000 fills over time. Trade fees (2.00%) charged on each filled slice (total $120).
- You cancel the remaining $4,000.
- Cancel fee (0.10%) = $4 on that remaining escrow.
- Net refund = $3,996 USDC. Net of filled part: you received assets worth $6,000 minus $120 fee.
Example C — Sell order you cancel before any fill
- You place a sell for 10.0000 TSLA.
- No matches occur. You cancel.
- Cancel fee (0.10%) = 0.0100 TSLA.
- Asset returned = 9.9900 TSLA.
Example D — Sell order with partial fill, then expiry
- You place a sell for 10.0000 TSLA.
- 6.0000 TSLA fills. Trade fees (2.00%) charged on the USDC notional of that 6.0000 filled.
- 4.0000 TSLA remains when the order expires.
- Expiry fee (0.10%) = 0.0040 TSLA on the remaining 4.0000.
- Asset returned = 3.9960 TSLA; plus you already received net USDC for the filled portion.
Partial fills & slices
- Orders can fill in multiple slices. The 2.00% trade fee is applied per filled slice (on its notional), so the math stays exact.
- If you cancel after partial fills, the 0.10% applies only to what remains in escrow at that moment.
- If the order expires, the 0.10% applies to the remaining unfilled amount at expiry.
Fee math
F_trade = 2.00%(0.02) on filled notional (USDC value)F_cancel = F_expire = 0.10%(0.001) on remaining unfilled escrow at cancel/expiry
- Per filled slice with notional
N_i: trade_fee_i = N_i × 0.02 - On cancel/expiry with unused escrow
E: fee = E × 0.001 - Refund (buy) =
E − (E × 0.001)
- Per filled slice with notional
N_i: trade_fee_i = N_i × 0.02 (deducted from USDC proceeds) - On cancel/expiry with remaining asset
A: fee = A × 0.001 (deducted in‑kind) - Refund (sell) =
A − (A × 0.001)(in the asset)
We show these values in your confirmation before you sign, and they settle on‑chain automatically.
Transparency & disclosure
- Fees are programmatically enforced on‑chain; no off‑ledger adjustments.
- The ticket and confirmation always show gross vs. net.
- Your order history and transaction receipts match exactly what settled.
Why fees at all?
Fees fund network operations (security, audits, infrastructure) and help sustain healthy liquidity. A portion of collected fees supports platform development and long‑term tokenholder value.