MATE is a governance token that empowers the MATE ecosystem.
MATE uses executor nodes that execute limit orders and collect fees proportional to the participant's staked MATE.
Rather than anticipating and designing a product that consists of a burning mechanism from the get-go. The core team wants to deliver the best core product offering and value to MATE's participants/holders.
The governance can decide to remove the hard cap in the future if the community sees fit.
No, the MATE token does not have any burning mechanism as it does not mint new MATE tokens.
The MATE token is neither. It is a token with a hard cap of 100M supply in existence.
There is a significant shift of traders switching from CEX to DEX in the current cryptocurrency exchange landscape. A popular CEX, Binance makes most of its revenue by collecting trading fees, while BNB can be used to discount trading fees. The majority of DEX doesn't provide a similar experience to CEX, especially the ability to create limit orders.
The white paper has a more in-depth explanation for CEX and DEX from MATE's perspective.
The major DEX player in the market is Pancakeswap. They charged 0.25% per swap, and traders cannot avoid unpredictable price impact since every order is executed as a market order.
MATE collects 0.2% fees per limit orders executed within the Mate platform. MATE's executor node validators receive 0.15% of the trading fee, while MATE's receives the remaining 0.05% as xMate as a reward for staking via its buyback program.
In conclusion, traders trading on MATE rewards payout to MATE's holders. Followed by, zero inflation making it attractive for participants to hold MATE tokens in the long run. The higher the trading volume, the higher the payout.