Fee Pool

The fee pool allows participants in the network to deal with assets and pay for the transaction fees without the need to hold CYB. Any transaction fee can be paid by paying any asset that has a core exchange rate (i.e. a price) at which the asset can be exchange implicitly into CYB to cover the network fee. If the asset's fee pool is funded, the fees can be paid in the native UIA instead of CYB.

It is the task of the issuer to keep the fee pool funded and the core exchange rate updated unless he wants the owner of his asset to be required to hold CYB for the fee.

If an order is created and paid in a non-CYB asset, the fee is implicitly exchange into CYB to pay the network fee. However, if the order is canceled, 90% of the fee will be returned as CYB. The result is, that if the core exchange rate is lower than the highest bid, people can simply buy your token from the market, and exchange them implicitly with the fee pool by creating and canceling an order. This will deplete the fee pool and leave the issuer with his tokens at a slight loss (depending on the offset of the core exchange rate). For this reason, we recommend using a core exchange that is slightly higher than the market price of your asset. As a consequence, paying fees in CYB should always be cheaper.