Proposal to simplify and reduce XDEFI swap & bridge fees

PROPOSAL EXECUTIVE SUMMARY

Today, XDEFI uses the following fee structure:

• Swaps that originate on THORChain DEX aggregator are subject to a 0.3% fee.
• Swaps that originate on all other providers are subject to a 0.5% fee.
• Swaps below US$300 in value are not subject to any fees.

This fee structure can create confusion and uncertainty for users as small changes to their swap can considerably change the fee rate.

This proposal is for XDEFI to introduce a simplified swap fee structure: all swaps on all swap providers and for all swap values will be subject to a 0.3% fee charged by XDEFI.

Please note: this proposal only relates to XDEFI fees and both Network gas fees and fees from underlying swap providers will still apply.

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

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PROPOSAL DETAILS: This proposal, if passed, will simplify the XDEFI fee structure to a flat 0.3% fee for all swaps of all values on all providers.

This will save XDEFI users money on most swap routes, and provides a foundation for compelling additional features to be rolled out in the future such as discounts for holding $XDEFI and $vXDEFI.

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PROPOSAL JUSTIFICATION: This proposal provides greater clarity for XDEFI users and is an important step to introduce further utility for $XDEFI and $vXDEFI.

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KEY DATES: 3 July 2023: Proposal to be submitted and the 7 day voting period begins. 10 July 2023: Voting period for the proposal concludes. 31 July 2023: If passed, the XDEFI team will announce a target fee change date.