Kraken sponsored two events that are part of the MIT Bitcoin Project. The first was for the MIT Bitcoin Club on July 29th. Dan Matuszewski, Director of Trading Operations at Kraken, talked to the club about how to trade bitcoins. The second event was round three of MIT Bitcomp. Bitcomp is a competition over the summer for developing bitcoin-related apps, with entries for the third round due on August 24th. Dan Matuszewski served as a judge for round three of the competition.
The participants at both events received vouchers redeemable at kraken.com for Kraken fee credits (FEE). For Kraken, the events provided the opportunity to launch the new fee credit system. Going forward, Kraken fee credits will be used for promotional rewards. As an example, clients might receive fee credits for referring others to the exchange. Kraken fee credits can only be used to pay trading fees on Kraken, so by receiving fee credits, a Kraken client gets a discount on their trading fees.