Proposal to introduce swap fee discounts for users holding $XDEFI tokens

PROPOSAL EXECUTIVE SUMMARY: This proposal will introduce swap fee discounts based on the amount of $XDEFI and/or $vXDEFI that a user holds in their wallet.

These discounts will provide a powerful utility for the $XDEFI token, and a valuable benefit for XDEFI users. The specific discount tiers are still to be confirmed, and may be updated over time.

Note: 75% of net revenue generated from swaps and bridging will still be used to buyback $XDEFI on the open market. These purchased tokens will still be rewarded to token holders who stake $XDEFI.

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PROPOSAL DETAILS: XDEFI charges a 0.3% fee to use XDEFI’s swaps and bridging (both in-wallet and in the XDEFI Web App).

This proposal is for XDEFI Wallet users holding $XDEFI and/or $vXDEFI to be entitled to receive a discount on this swap fee and the size of the discount will depend on the size of the user's holding of $XDEFI and/or $vXDEFI.

The user experience for this feature would be: (1) User holds $XDEFI and/or $vXDEFI in their wallet. (2) User proceeds through the swap and bridging flow as normal. (3) A discount is automatically applied on swap fees based on the amount of $XDEFI and/or $vXDEFI in the user’s wallet.

This feature will require development work from the XDEFI back end, routing and front end teams, and must be prioritized in the XDEFI roadmap. If approved, the XDEFI team will work to announce a target launch date for this feature after taking into account other existing priorities

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PROPOSAL JUSTIFICATION: This proposal provides a powerful new utility for the $XDEFI token. It is a strong incentive for the $XDEFI community to swap and bridge using XDEFI Wallet instead of elsewhere.

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KEY DATES: 20 July 2023: Proposal to be submitted and the 7 day voting period begins. 27 July 2023: Voting period for the proposal concludes. 31 August 2023: If passed, the XDEFI team will announce a target launch date.

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VOTING: If you are in favour of this proposal, you can vote by following the instructions here: https://www.xdefi.io/article/community-proposal/

Please note that for a proposal to be successfully passed by the community: (i) the total votes on the proposal must amount to at least 5% of the total circulating supply of $XDEFI; and (ii) more than 51% of the votes must have been in favour of the proposal.