Exchange Params
The exchange module params dictate how much of the fees (collected by markets) go to the exchange/chain.
The split values are in basis points and are limited to between 0 and 10,000 (both inclusive).
The default_split is used when a specific DenomSplit does not exist for a given denom.
- A split of
0is 0% and would mean that the exchange receives none of the fees (of the applicable denom), and the market keeps all of it. - A split of
500is 5%, and would mean that the exchange receives 5% of the fees (of the applicable denom) collected by any market, and the market keeps 95%. - A split of
10,000is 100% and would mean that the exchange receives all of the fees (of the applicable denom) and the market gets nothing.
The exchange module params also dictate the fees associated with payments.
The fee_create_payment_flat is assessed as a msg fee when creating a payment (paid by the caller/source).
The fee_accept_payment_flat is assessed as a msg fee when accepting a payment (paid by the caller/target).
The default Params have a default_split of 500 and no DenomSplits.
The default fee_create_payment_flat and fee_accept_payment_flat are each 100,000,000 nhash (0.1 hash).
Params are set using the GovUpdateParams governance proposal endpoint.
The current params can be looked up using the Params query.
See also: Exchange Fees.