SBF on Twitter: "@ichibot @PARABOLIT this is very different from your original post, which pointed to 1% ref I can look into this, but you need to stop posting these on Twitter, especially enraged and misleading and wrong the first time." / Twitter

dude stop commenting on all my posts with this he's giving literally 0 transparency to how he's calculating his volume, whether some users are VIPs which don't get refs, or what

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this is very different from your original post, which pointed to 1% ref I can look into this, but you need to stop posting these on Twitter, especially enraged and misleading and wrong the first time.

9:59 PM · Mar 17, 2021Twitter Web App

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no, this was the original post:

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ichi

@ichimikichiki

Mar 16, 2021

So yesterday @ichibot did $267,929,243 volume With $40,547 in fees generated. Out of that, with the new "accounting trick" everyone is now subjected to: We received just $698 in commission... 1.7% commission.

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ok so I've looked into it. 1) FTX is behaving exactly as described by the docs: help.ftx.com/hc/en-us/artic 2) The docs do something unintuitive with FTT: because fees are bounded by 3bps, FTT cuts into ref rebates 3) we might change that to be more favorable to referrers.