Is there a ≤1% transaction fee?

All SpaceFuel transactions will incur a ≤1% transaction fee initially, paid by the sender, and transaction fees will always be in the range of 0-1%.

SpaceFuel is designed for micro-transactions—millions of transactions at fractional values. SpaceFuel is divisible in fractional units. This is an enormous infrastructure to support and has never been done before. Space will charge a ≤1% fee on all transactions to support building and scaling this infrastructure. Space will look to decrease transaction fees, maintaining enough revenue to sustain the infrastructure services, after it has scaled enough to meet the expected demand and cost of servicing the infrastructure.

Further notes on transaction fees:

• The sender incurs the transaction fee, not the recipient.
• Hosts do not incur transaction fees for providing hosting, fees happen when they transfer, withdraw, or redeem SpaceFuel.
• Peer-to-peer transactions incur the transaction fee.
• In transactions involving SpaceFuel and another Spacechain-based currency, the sender will incur the transaction fee.
• SpaceFuel is not required for running a Spacechain app; it is only required for hosting a Spacechain app on the Space Host network.

Three possible exceptions:

• Fees may not be incurred on transactions between agents who comprise one identity (e.g. a SpacePort, laptop, and phone that all belong to me).
• Large financial transactions (not micro-transactions) may incur reduced fees. We will review this as the need arises.
• Spacechain-based cryptocurrencies do not incur the ≤1% fee on their own transactions, but will incur fees for the SpaceFuel they use to pay their hosting fees for all agents whose chains are hosted on the Space Host network.