# Fees & Loyalty Program

<details>

<summary>What is the Loyalty Program?</summary>

Please note: Loyalty Program will be available post V2 MEF Smart Contract Update, coming later in October 2023.

Transactions through the bot incur a fee of 5% by default.\
We offer a reduced fee schedule for users that support FrenBot in the following ways:

* Active (high volume) traders
* Holders of the $MEF token
* Optionally: Holding FrenBot Friend Tech Key or using a referral link of a person that holds FrenBot Keys&#x20;

The fee reduction applies to any trades made through FrenBot.

</details>

<details>

<summary>How is my final fee % determined?</summary>

If you qualify for a fee reduction from both [Transaction Volume](#user-volume-fees-discount) and being a [Token Holder](#token-holders-fees-discount), then whichever fee discount is greater will be applied to your trades.

</details>

<details>

<summary>Why doesn't my Loyalty Program tier correctly reflect my MEF balance?</summary>

If you have recently performed the Link Wallet procedure then it will take a short amount of time for your Loyalty Program tier to be updated. Try checking again after 10-15 minutes.

</details>

<details>

<summary>What happens when someone uses my referral link?</summary>

The referral reward system allocates a portion of the referee's fees, up to 25%, to the owner of the referral link. The distribution is determined by the amount of MEF holdings:

* 10% when MEF holdings are less than 1500 MEF
* 20% if more than 1500 MEF is found in the wallet
* 25% when it's more than 1500 MEF in the wallet + 1 FrenBot key



</details>

### Loyalty Program Tier System

{% hint style="info" %}
You can gain additional % bonus perks while holding FrenBot's Friend Tech key. Owning FrenBot keys is optional.&#x20;
{% endhint %}

{% hint style="success" %}
**Friend System**

While holding a minimum of 1 FrenBot key makes you eligible for an additional % off, any higher number than that can be held by the person that referral link you have used to boost your % off. \
\
**Example:** User A owns 4 FrenBot Keys; User B owns 1 FrenBot Key.

If user B uses a referral link from User A, in total they have 5 FrenBot Keys which gives both of them perks as if holding a total of 5 FrenBot Keys.&#x20;
{% endhint %}

#### **Transaction Volume**

<table><thead><tr><th width="288.3333333333333">Tier</th><th>Fee Reduction</th><th>FrenBot Keys # (Total %)</th></tr></thead><tbody><tr><td>Tier 0: Ref Link</td><td>5% off</td><td>0</td></tr><tr><td>Tier 1: Ref Link + 1 FrenBot Key</td><td>10% off</td><td>1 to gain 5% off (10%)</td></tr><tr><td>Tier 2: $2.5k Volume Traded</td><td>20% off</td><td>2 to gain 5% off (25%)</td></tr><tr><td>Tier 3: $5k Volume Traded</td><td>30% off</td><td>3 to gain 5% off (35%)</td></tr><tr><td>Tier 4: $20k Volume Traded</td><td>40% off</td><td>4 to gain 5% off (45%)</td></tr><tr><td>Tier 5: $50k Volume Traded</td><td>50% off</td><td>5 to gain 5% off (55%)</td></tr></tbody></table>

#### **Token Holders**

<table><thead><tr><th>Tier</th><th width="216.33333333333331">Fee Reduction</th><th>FrenBot Keys # (Total %)</th></tr></thead><tbody><tr><td>Tier 0: Ref Link</td><td>5% off</td><td>0</td></tr><tr><td>Tier 1: Ref Link + 1 FrenBot Key</td><td>10% off</td><td>1 to gain 5% off (10%)</td></tr><tr><td>Tier 2: 1500 $MEF</td><td>20% off</td><td>2 to gain 5% off (25%)</td></tr><tr><td>Tier 3: 15000 $MEF</td><td>30% off</td><td>3 to gain 5% off (35%)</td></tr><tr><td>Tier 4: 75000 $MEF</td><td>40% off</td><td>4 to gain 5% off (45%)</td></tr><tr><td>Tier 5: 150000 $MEF</td><td>50% off</td><td>5 to gain 5% off (55%)</td></tr></tbody></table>



{% hint style="info" %}
Referral systems will be enabled alongside V2 MEF Smart Contract Upgrade
{% endhint %}

The required rates and tiers are subject to change based on the dynamic economic conditions surrounding FrenBot's growth. The FrenBot Team will continuously assess token and volume rates to ensure they align with practical accessibility criteria.
