Glossary

Phase 2 (Months 13-24): Modified Option E — Hybrid

Maker fee: $0.00 (remove rebate as liquidity is self-sustaining) - Taker fee: $0.01 - Resolution fee: $0.005 (on winning contracts) - Rationale: Reduce subsidies to market makers once the flywheel is spinning. The resolution fee is less visible and adds revenue without significantly impacting tradin

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