Fee Share % of Protocol Revenue With Token Holders

## Abstract Cover Protocol is a decentralized marketplace for coverage of events, similar to a prediction market. $COVER token is its valueless governance token that is used for deciding claims.

Since launch, fee sharing has been tagged as a pending implementation into Cover Protocol and its governance token, this is a proposal to finally release and execute said fee sharing, to enable $COVER holders to benefit more directly from the protocol's success.

Background

To date Cover Protocol has earned over $150,000 in fee revenue from the protocol, which has previously been used to sustain team development and operating costs. Now with the launch of V2 on the horizon, I think it would be best for the token holders to finally earn a share of rewards, and hopefully kick off the launch of V2 with a bang.

## Implementation The team has stated that xCover has completed auditing, but has not said further details on fee splitting. If this proposal is well liked and supported we can ask the team to provide the source code of xCover to be deployed.

Proposal

For this proposal I propose 3 choices for the initial kickoff of fee splitting, initially these numbers should be low and we can vote to increase at a future point:

• Split 30% of protocol fees with token holders
• Split 15% of protocol fees with token holders
• Do not fee split