Hello JOYSO, I've read your introduction and white paper.
I'm confused about how do you generate profit?
Exchange that offers free transaction fees exists, why should customers choose JOYSO since that free transaction fee exchange exists?
JOYSO generates income from transactions fees, approximately 0.1% commission for the order maker and 0.2% for the order taker. Our price strategy is to attract users with a 50% discount for JOY token use. JOYSO also generates transactions and advertising by offering free and frictionless listings to ICOs.
I don't understand the idea of "a 50% discount for JOY token use". Lets suppose my transaction fee is 1 Ether, how much will I pay if I payed by JOY? How do you transfer the numbers from Ether to JOY?
The fees a buyer or seller pay us include two parts, trading fee and transaction fee (gas fee).
The trading fee is the amount you pay to us for using JOYSOs service, which is set around 0.1% from order makers and 0.2% from order takers. The transaction fee (gas fee) is the fee we pay to miners. Transaction fee fluctuates accordingly to the degree of internet congestion.
Discounts from JOY only applies to trading fee, but not to transaction fee. So if gas fee is what you mean by transaction fee. There will not be a discount. However, there will be a 50% on your trading fee.
To make it clearer, lets set up an example:
If you are the taker and you took a order of [1A (token) for 1,000 Ether], you pay [1,002 Ether + transaction fee (gas fee) ] in sum. The 2 coins out of the 1,002 coins is the trading fee paid to us. If you pay the 2 Ether trading fee in JOY, assuming the market price is 1Ether to 1JOY, you will only need to pay a total of [1,000 Ether + 1 JOY + transaction fee (gas fee) ]. Hope this makes things clearer!