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FATExDAOFATExDAOby0xD8189e32771Ab8114f24eB5E3ACb5040BB8C7086fatexdao.eth

V2 FATEx DApp smart contract updates for deployment on MATIC - fees

Voting ended almost 4 years agoSucceeded

This is another topic that has been discussed and outlined at length for a while. Since we are finally nearing going live with V2 we have to formally decide on some details.

There are currently no fees, this has helped hinder real members by encouraging short-term yield farming. Fees like these should have been in place at the original Harmony mainnet of FATExDEX.

The proposal is to have two layers of fees at the withdrawal of the LP: a locked rewards fee and a withdrawal fee.

The fee schedule details that we are proposing can be found here:

https://bit.ly/3N6lWWU

An explanation of how the mechanisms of the fees work and the benefits can be found in this article, in the section under the same title as this proposal, and in prior Medium articles that are titled to reference V2.

https://fatexdao.medium.com/fatexdao-explanation-of-major-dao-proposals-posted-to-snapshot-c10cd66b90cc

NOTE:

These fees will not occur until the FATE redeploys on MATIC. WHY: it is easier for developers to focus on the FATE to MATIC redeploy and incorporate V2 features (there is also a membership rewards controller based on the time that is not being used immediately) than it is to deploy the new smart contracts on Harmony first.

The fees can be changed by DAO vote at any time.

Please vote:

  1. Yes - implement the fees as detailed
  2. No - do not implement withdrawal fees

Off-Chain Vote

Yes - V2 fees schedule is good
121.94M 100%
No - V2 fees are not good
0 0%
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Timeline

Mar 20, 2022Proposal created
Mar 20, 2022Proposal vote started
Mar 23, 2022Proposal vote ended
Oct 26, 2023Proposal updated