Raise performance fees to 2.9%

This is a proposal from the team to raise KogeFarm performance fees to 2.9%. This would allow KogeFarm to continue offering the lowest fees among multi-chain yield aggregators, while significantly increasing the viability of the project long term.

A lot has changed since starting the project in May 2021. For one, KogeFarm has become significantly more developed, with two audits under way and an established reputation for security. Our UI, though still leaving much to be desired, has also been professionally re-designed and re-launched.

While KogeFarm has improved, the networks we operate on has also become a lot more congested. Polygon raised their minimum gas price thirty fold. Fantom and MoonRiver are becoming a lot more expensive as well. Finally, there appears to be consolidation in the yield aggregator space, with few new competitors taking off and existing competitors charging higher fees. The time seems ripe for raising revenue to allow for more resources to develop the project.

We estimate that raising performance fees to 2.9% will allow us to generate revenues on the order of 1-2k per day, which will more than cover gas costs and allow for significant burning of KogeCoins at our current market cap. In the future, even with no TVL growth, having more revenue will allow the project to remain viable and actively developed.