Setting Up Platform Fees
Implementing the right platform fee structure is pivotal for the sustainability and profitability of your marketplace. Liteflow simplifies this with a range of customizable fee plugins. Note that plugins are mutually exclusive; only one can be active at any given time.
When selecting a fee plugin, it's important to consider when and how fees will be applied. Liteflow's fee plugins are designed to calculate fees at the time of offer creation, ensuring transparency and consistency for users.
Before deploying any new fee structure, be aware that it will apply only to newly created offers. Existing offers will not be affected, ensuring that users are not impacted by changes to the fee structure without prior notice.
Steps to Activate Standard Fee Plugins
Liteflow's standard fee plugins offer ready-to-use solutions for applying transaction fees on your platform, suitable for a variety of business models.
Access Plugins
Navigate to Plugins (opens in a new tab) in the dashboard.
Activate Plugin
Select the 'Activate' button next to the desired plugin. Options include:
- Percentage Fee: A dynamic fee structure calculating fees as a percentage of the transaction value. Ideal for variable sales amounts.
- Split Fee: Enables fee distribution among multiple parties, such as creators, developers, and the platform, facilitating revenue-sharing.
- Fixed Fee: Applies a consistent fee to all transactions, ideal for platforms with standardized service offerings.
Set Up Plugin Details
Configure the necessary details for the chosen plugin and click 'Save changes'.
Creating Custom Fee Plugins
If standard plugins don't meet your specific needs, Liteflow allows for the creation of custom fee plugins for greater flexibility.
Examples of Custom Fees
- Staking-Based Discounts: Reduced fees for users staking platform tokens.
- Activity-Based Discounts: Lower fees for frequent platform users.
- Time-Based Fees: Special fee rates during selected hours, like "Happy hours".
- Loyalty Rewards: Fee discounts for transactions that accumulate reward points.
- Tiered Fee Structure: Varied fee levels based on user subscription tiers or status.
Custom fee structures align with unique user behaviors and platform preferences.
Access Plugins
Visit Plugins (opens in a new tab) in the dashboard.
Initiate Plugin Creation
Start creating a custom plugin at Create plugin (opens in a new tab).
Develop Plugin
Design a plugin that uses smart contract interactions and external APIs for dynamic fee adjustments, adapting to user activities and market conditions.
Create and deploy a cloud function for the CALCULATE_ORDER_FEES service.
Note: The endpoint URL must be publicly accessible.
Set Up Plugin Details
Provide the endpoint URL and choose the CALCULATE_ORDER_FEES type.
Note: Ensure no other fee plugins are active during this setup.
Your custom fee plugin is now ready and will apply to all new offers, adding a unique edge to your platform's fee structure.