2026-01-16 09:20:36

The privacy track is becoming the next hot spot. A project approached CZ to serve as an advisor, focusing on the ghost order mechanism—truly hidden order placement, aiming to develop deeply in the privacy trading sector.

Some experts tested it out, leaving some BNB for gas fees, mainly trading the KOGE-USDT pair. From the data, the trading volume reached 100,000, with a total loss of only 20U—quite efficient.

However, there's a rather awkward point: the reward share for referrals is actually higher than the rebate for direct trading. Participating in it ends up being more heavily exploited, which can be a bit frustrating. It seems the mechanism design still needs further refinement.

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BlockDetective

· 18h ago

Ghost orders sound impressive, but this recommended ratio design... is really outrageous, and participants end up losing big.

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ProposalManiac

· 01-16 09:50

The 20U loss is indeed good, but this incentive structure clearly hasn't been validated through governance game theory — participation ends up being exploited, which is a typical failure case of mechanism design.

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GateUser-bd883c58

· 01-16 09:49

Ghost single listening sounds cool, but this rebate design is really clever; participants end up being exploited even more... This is a typical case of "looks great but isn't."

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ReverseFOMOguy

· 01-16 09:49

Wait, the referral rewards are higher than trading rebates? Isn't this just competing to recruit more people, a typical pyramid scheme vibe?

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zkProofInThePudding

· 01-16 09:43

Is losing only $20 on 100,000 transactions really accurate? This data sounds a bit exaggerated. Are gas fees really this cheap?

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NervousFingers

· 01-16 09:34

Is the referral reward higher than the trading rebate? Isn't this just working for the referrer? I can't stand this kind of mechanism.

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BoredWatcher

· 01-16 09:26

A trading volume of 100,000 only loses $20, the efficiency is indeed incredible, but the recommended ratio is set way too ridiculously.

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ConfusedWhale

· 01-16 09:26

The 20U loss definitely sounds impactful, but the fact that the referral rewards are higher than the trading rebates is a bit outrageous... Feels like they're finding ways to cut participants.

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