Introduction

Equation V3: Zero Trading Fee Perpetual Protocol

May 2024

Equation v2 marked a pivotal technical upgrade that established a solid foundation for the BRMM algorithm’s stable and efficient performance. Equation v3, however, represents an upgrade in the business model with the aim to fully leverage the advantages of the BRMM algorithm, enhance the trading experience for users, and fundamentally alter the widespread issue of excessive fees within the Perpetual DEXs.

The upgrade includes the following key changes:

• The permanent elimination of trading fees for all trading pairs.

• The introduction of Protocol Funding Fees as a new source of protocol revenue, with funding fees being paid or collected in real-time.