Proposal: Reduce Vortex payment to initiator to 2%

This proposal is expected to appear on Snapshot for voting on [date=2022-07-03 timezone="Europe/Lisbon"]. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

To pass, this proposal needs a quorum of 35% and 66.7% FOR votes.

We should reduce the payments made to the vortex initiator to 2%, it’s currently sitting at 10%. See the screenshot below from the official docs:

Reasoning :

• As of the following proposal the vortex is increasing to 100% on V2.1 and to 30% on V3
• Due to the current TKN IL deficit, the vortex fees should focus on burning vBNT and locking BNT to enhance the deflationary tokenomics of Bancor
• The increase in burning rate should also increase the absolute amount of fees made, thus having a decrease in the percentage paid to the initiator will still result in a more than reasonable payment
• Gas also being cheaper now, will lower the overhead for the initiator

My above reasoning makes it that a decrease in percentage paid won’t be a risk of the initiators not starting a burn and thus decreasing our costs by a whopping 80%

TL;DR;

Vote FOR to have the vortex fee reduced to 2% for the initiator Vote AGAINST to have the vortex fee be as it is.