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BancorBancorby0xa521E425f37aCC731651565B41Ce3E5022274F4Ftenzent.eth

Proposal: Increase RLC-BNT Fees to 0.2%

Voting ended over 4 years agoSucceeded

This proposal is expected to appear on Snapshot for voting on [date=2021-09-12 time=12:00:00 timezone="UTC"]. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

I am looking to make the fees inline with other DEXes for the RLC-BNT pool which is currently set to .1%. Other decentralized exchanges (Uniswap/Balancer/Sushiswap) have the fees set for .3% for the RLC-ETH pair. Even if we were to raise our fees, we would still be cheaper due to the ETH-BNT pair being at .05% at the moment since most swaps will happen via the ETH path ( ETH-->BNT-->RLC) for a total of .25% overall TX fees.

Currently, the RLC-ETH pair has good liquidity on some competing DEXes:

image|646x347

but we are the deepest as of ~2 days ago:

image|485x312

We can't really go much higher in terms of fees since we are going to be pricing ourselves out as compared to the competition.

Note that most trades at the moment of small amounts (less than 3 ETH, $9500) end up being routed via uniswap/sushiswap. We tend to capture larger trades due to gas cost in the two hop scenario making it cost prohibitive for smaller swaps (current NFT minting and opensea don't help either).

Off-Chain Vote

FOR
6.11M 95.6%
AGAINST
280K 4.4%
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Timeline

Sep 12, 2021Proposal created
Sep 12, 2021Proposal vote started
Sep 15, 2021Proposal vote ended
Mar 15, 2024Proposal updated