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SX.betSX.betby0x025b9FD9F1ed818d688e19c5F43c500bf44cEA470x025b…EA47

Lower Maker Fees to 2.00%

Voting ended over 3 years agoSucceeded

Liquidity is one of the most important factors to SX's success. Liquidity is one of the main positive feedback loops for SX Bet; the more liquidity, the better the product is for users, which then leads to more betting, and therefore more liquidity. Over time, liquidity acts as a network effect for the platform, making it hard for competitors to displace SX. Instead, superior liquidity encourages other to hook into SX to hedge risk, pass through to their own users, among other benefits.

SX currently has a lead being the most liquid blockchain betting market in the world. However, this lead isn't surmountable and the protocol should continue prioritize growth given that funding isn't an issue. Achieving our shared goal of hitting $500m in total bets in 2022 will be greatly aided by having more market makers, tighter odds, and enhanced depth. Lowering fees paid by makers to 2.00% will help this, as fee insensitive makers will pass on these savings to users with better odds while encouraging fee sensitive market makers to begin market making.

Summary: Lower fees paid on winnings by makers (i.e. Offered Bets / Limit Orders) to 2.00% from 4.00%.

Off-Chain Vote

Yes - Lower Maker Fees to 2%
12.3M SX100%
No - Don't Lower Maker Fees
0 SX0%
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Timeline

Jul 13, 2022Proposal created
Jul 13, 2022Proposal vote started
Jul 18, 2022Proposal vote ended
Oct 26, 2023Proposal updated