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[Fees] Reduced Swap and Bridge Fees on the BIM Finance Protocol

Voting ended over 1 year agoSucceeded

Summary of the Proposal: This proposal aims to reduce swap and bridge fees on the BIM Finance protocol in order to attract more users and increase our market share. Following discussions with the QuickSwap Foundation, it is recommended that we reduce our swap fees from 1% to 0.25% to become the most cost-competitive platform. We also propose to reduce bridge fees to 0.25%. In addition, fees will be further reduced by 50% for users holding BIM, with a maximum reduction applicable to 500 BIM, potentially lowering fees to 0.125%.

Context: BIM Finance wants to increase its competitiveness and attract more users to its platform. After consulting with the QuickSwap Foundation, it became clear that to become the market leader in terms of fees, it would be strategic to reduce our swap and bridge fees. By lowering these fees, we could not only become the most affordable platform, but also increase our transaction volume and attract a larger user base.

Proposal Details:

  • Swap fees reduced from 1% to 0.25%.
  • Bridge fees reduced from 1% to 0.25%.
  • A further 50% reduction in fees for users with BIM, applicable to up to 500 BIM, which could bring fees down to 0.125%.
  • These changes will make BIM Finance the platform with the lowest fees on the market, surpassing the competition.

Voting Options:

  • Yes: Approve the reduction of swap and bridge fees on the BIM Finance protocol as indicated in the proposal.
  • No: Reject the proposal to reduce swap and bridge fees.

Voting Process: BIM token holders are invited to vote for one of three options. The vote will determine BIM Finance's development strategy.

Voting Instructions:

  • Connect to the voting platform using your wallet.
  • Select the proposal regarding the opening of vote submissions.
  • Choose the option that you believe best aligns with the vision and strategic objectives of BIM Protocol
  • Confirm your vote.

Voting Period: Voting will begin on [05/09/2024] and conclude on [08/09/2024]

We encourage every member of the BIM Protocol community to participate in this crucial vote. Your voice will guide the future of our platform and strengthen our position in the blockchain ecosystem.

Off-Chain Vote

YES
2.44M BIM100%
NO
0 BIM0%
ABSTAIN
0 BIM0%
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Discussion

BIM[Fees] Reduced Swap and Bridge Fees on the BIM Finance Protocol

Timeline

Sep 04, 2024Proposal created
Sep 05, 2024Proposal vote started
Sep 08, 2024Proposal vote ended
Sep 08, 2024Proposal updated