DIP-2: 0 Fees & HFT Mode

1. Overview

DIP-2 makes trading free across the platform.

This proposal introduces 0 maker and taker fees for all customers, venue wide. The goal is simple: deeper liquidity, tighter spreads, and better execution - especially on market orders by removing the single biggest friction for active traders.

Alongside 0-fee trading, DIP-2 also introduces HFT Mode: a performance-focused tier for latency-sensitive, high-throughput traders. HFT Mode is how we push the ceiling on throughput and latency while keeping the protocol fair, safe, and stable.

2. What Traders Face Today

Traders today deal with:

• Inconsistent depth and meaningful slippage, especially on market orders.

• Makers and takers paying fees that make it harder to:

  • Quote tight spreads consistently

  • Replenish the book aggressively

  • Run high-churn strategies without bleeding edge

• API/systematic traders often self-throttle due to conservative limits and microstructure uncertainty.

Net effect: execution quality suffers, and liquidity doesn’t compound the way it should.

3. What Changes with DIP-2?

A) 0 Maker + 0 Taker Fees For Everyone

DIP-2 sets:

• Maker fee: 0

• Taker fee: 0

  for all customers and all markets.

What this unlocks:

• More displayed liquidity (makers can quote tighter without paying to participate).

• Higher quote competition (more participants, faster replenishment).

• Better market order execution (depth improves as activity scales).

• Cleaner incentives for systematic flow (no fee drag for high-turnover strategies).

This is a clear statement: Defx wants to be the easiest venue to trade on and the easiest venue to provide liquidity on.

B) HFT Mode

HFT Mode is an account-level configuration that complements 0 fee trading by pushing infra performance further for eligible accounts:

• Higher throughput limits (orders/sec, cancels/sec, open orders)

• Early access to latency improvements

• Direct line to the Defx dev team for feedback + incident response

HFT Mode exists to ensure Defx can become the best venue for HFT-style strategies without compromising fairness or chain health.

4. What Does Not Change

Fees & Pricing

• Trading fees are 0/0 for everyone under DIP-2.

• HFT Mode is also 0 fee during rollout.

We also want to set expectations early: once HFT Mode is rolled out broadly, it will become a paid feature. It bundles dedicated infra, higher limits, and tighter operational support. For now, we keep it free while we co-design it with the most active participants.

5. How To Get Access

a) 0 Fees

No application needed. 0 maker / 0 taker applies to all customers.

b) HFT Mode – Phase 1 (Application-Only Beta)

Initially, HFT Mode is available via application: https://forms.gle/b3SVHxkwCM3iuMdq9

Approvals are based on:

• Expected order flow characteristics (orders/sec, cancels/sec, markets traded)

• Strategy type (e.g., cross-venue MM, spot-perp arb, basis trades)

• Track record of high trading volume across venues

c) HFT Mode – Phase 2 (Rollout to Everyone)

Over time, HFT Mode capabilities expand to a broader set of active traders, with the intention of making Defx’s performance improvements widely available while transitioning HFT Mode into a paid tier once it’s fully rolled out for everyone to opt into.