Proposal: Eliminate Fees for Failed Transactions on Jupiter
Summary: I’m proposing that Jupiter removes fees charged for failed transactions on its platform. Currently, users are charged fees for transactions that fail, which feels unfair and discourages trading, especially for perpetual futures. This change would improve user experience, align with community values, and make Jupiter more competitive.
Problem: Failed transactions, like the four I experienced, still incur fees despite not completing. On Solana, network gas fees are unavoidable since the blockchain processes transactions until they error out. However, Jupiter’s platform fees for perpetuals add an extra cost that users find excessive, especially when trades don’t succeed. This practice can erode trust and reduce engagement, particularly for retail users facing high fee burdens.
Proposed Solution: 1. Jupiter should waive its platform-specific fees for failed transactions, absorbing these costs or restructuring how perpetuals are processed to minimize them.
2. Implement a refund mechanism for platform fees on failed trades, credited back to users’ wallets.
3. Explore technical solutions to reduce failed transactions, like better slippage settings or improved liquidity checks, to lower the overall fee burden. Benefits: - Enhances user trust by ensuring fees are only charged for successful trades. - Encourages more trading activity, especially in perpetuals, by reducing financial risk. - Positions Jupiter as a user-friendly DEX compared to competitors. Implementation: - Jupiter’s dev team can adjust the fee structure in the platform’s smart contracts. - Test the change on a small scale (e.g., for perpetuals only) before rolling it out across all trades. - Community feedback can be gathered via a trial period to assess impact. Call to Action: I urge the Jupiter DAO to vote on removing platform fees for failed transactions. Let’s make trading fairer and keep Jupiter as the go-to DEX on Solana.