How does the Membership Fee work?

The Membership Fee is a monthly fee applied to all accounts at Dacxi. 

How is the Membership Fee calculated?

For the first 100.000, the fee is $1/£1/€1, plus 0.95% per annum of your crypto balance, charged monthly.

Example:

If a Portfolio has an average monthly market value of $100,000, the fee would be calculated as follows:

$100,000 x (0.95% / 12) + $1

$100,000 - The total market value of the Portfolio.

0,95% - The per annum percentage calculated over the market value of the Portfolio.

12 - 12 months.

For any portfolio balances greater than 100,000, the Membership fee is only calculated on the balance up to this amount. 

How is the market value of a Portfolio calculated?

The total market value of a portfolio is based on the average portfolio value for the entire month. It includes any crypto balances held at Dacxi, but excludes fiat balances (AUD/EUR/GBP).

When and how is the Membership Fee deducted?

The deduction of the Membership Fee is on the 1st day of the following month, for example, 1st June for May fees. The fee will be automatically deducted from the wallet on the respective date and recorded in your transaction history.

Fees may be deducted from any Dacxi Coin deposited in the Earn rewards program should there be an insufficient balance in your normal Dacxi Coin wallet. 

Should this occur in the middle of the Earn deposit period, it does not result in the maturity of that Earn deposit nor any forfeit of the rewards calculated and awarded at the maturity of the current one-month period.

The reward for that particular deposit would be calculated however on a pro-rata basis to take into account the adjusted deposit balance.   

• Example: You have deposited 100 Dacxi coin on the 15th of March for 1 month maturing on the 15th of April. On the 1st of April, 40 Dacxi coin is deducted as a membership fee from this deposited amount. This results in the remaining 60 Dacxi coin balance continuing until 15th April. On the 15th of April, the reward is calculated on a balance of 100 Dacxi coin between the period 15th March to 31st March, and 60 Dacxi coin between 1st April to 15th April.

In what currency is the Membership Fee deducted?

The Membership Fee will be deducted in Dacxi coin. If your Dacxi Coin balance at the time is insufficient, the balance of the fee will be deducted in Bitcoin, then Ethereum, and then other cryptocurrencies held in your account.

When is the Membership fee starting?

The Membership Fee applies from the 1st of May 2022 onwards, with the first deduction to occur at the beginning of June 2022 for the month of May.

IMPORTANT

The membership fee doesn’t apply to non-crypto (fiat) balances.

The membership fee will not be deducted in fiat currency.