Fees

To understand how Pheasant cross-chain swap works, it’s necessary to be familiar with the roles fees play. In Pheasant cross-chain swap, there are three types of fees levied on participants.

Swap Fee

Swap fees are set by the external DEX protocols integrated with Pheasant Network and reflect the cost of their services. Each protocol determines its own fee structure independently, and Pheasant Network has no control over these rates. Consequently, the swap fee you encounter depends on the specific token pair being exchanged and the networks involved.

Relayer Fee

Relayer fees refer to the fees paid to relayers by users for accepting their swap requests. These fees include a reward for the relayer, as well as compensation for the gas fees that relayer needs to pay when transferring users’ assets between networks. Relayers have the authority to set their own rates, and users can choose the lowest fee from among all the offers.

While the Pheasant Network is currently the only relayer, we anticipate that once the protocol is ready to accommodate multiple relayers in the future, relayers will naturally determine the best rates based on the principles of market competition.

Protocol Fee

Protocol Fees are paid to the protocol by users, sent to and stored in our treasury and used to achieve the network’s sustainable development. The community has the right to decide where and how to spend the accumulated fees in the treasury. Although this rate has yet to be determined, we plan to set it in the future as the project moves ahead.