The Adjusted Formula for Dynamic Calculation of Withdraw Fee
Due to daily fluctuations in the market, the fixed-amount-based charging mechanism of withdrawal fee can no longer adapt to the changes of coin prices, which has resulted in excessive costs for users when they withdraw coins. To help users reduce the withdraw cost, Huobi has adjusted and upgraded its fixed charging mechanism to a dynamic one for withdraw fee.
The formula for calculating withdraw fee is as follows:
Withdraw fee of X Coin on a certain day= Actual withdraw fee / the average price of X Coin on the previous day
The formula for calculating the average price of X Coin is as follows:
The coin price of the previous day (from 00: 00: 00 to 23: 59: 59) is upgraded at 01:00:00 (GMT+8) each day. The average price is the total of the prices of every hour on the previous day (which is the total of 24 prices) / 24. If the currency price is not available at on the hour, and there are fewer than 24 prices on that day, the average price will be the total of the prices of every available hour on the previous day / the number of the available hour. For example: if there were only 23 prices that were taken into account, then the average price is the total of the prices of 23 hours on the previous day (the price is converted to USDT) / 23.
Note: for the newly launched currency, the price of the previous day is not available so the amount of withdraw fees is fixed for the time being, and later it will be adjusted to a dynamic one.