Fund the fee switch wallet with 50K MIN

The fee-switch wallet, as implemented nowadays, incurs in quite a number of trades see in CardanoScan: Address addr1qx40kyvkgdxtsdladusny09r0vczmlmrsl52sjel528674jj2c79gy9l76sdg0xwhd7r0c0kna0tycz4y5s6mlenh8pqg82qtn - Cardanoscan

My proposal is simple, transfer to the wallet with 50K MIN from the MIN treasury, so that whenever this trades are being carried out the batcher fee discount is applied. This should create a small increase in the revenues of the fee switch, and boost the staking rewards by 0.5% (0.5 ADA discount on each 100 ADA trade).

Should this be discussed further?

  • Yes
  • No
0 voters
1 Like

if you submit all the fee switch transactions with maximum discount then that also means you’re giving batchers less fees (50% of batcher fees goes to the dao each month)
are you taking that into mind?

I am taking it into account Actually not sure how its implemented, the working on one place suggest its how you say, in which case the DAO would still get +0.25%, but in other mediums one could undestand that its the labs that cover the discount. In any case, worst case scenario the DAO is still better off.

Also circulating fees from the fee switch to the batcher fees seems to me like confusing and like circular, and all in all weird, if posible I would take all of them out, but i know that is another discussion for today I will be happy with just taking 25% out. making staking 0.5% more attractive, making the batcher fee income sligthly lower, but the DAO overall resoruces 0.25% higher.

Only voted no because I think we should wait for v2. I know that the fee switch will have to be reworked to acccount for dynamic fees.

I think this waiting for V2 to do anything is getting really old, I have been given that as an excuse since november or sooner. But yeah I forgot that LP token also got the discount, and the wallet holds LP tokens, I asume from how it used to work before, so we should already be getting the discount. Sorry guys, my bad

To be fair V2 was announced in November. It has only been 5 months. Plus Minswap is a protocol with huge tvl and huge responsibilities to the whole ecosystem due to the fact that majority of volume occurs on it. It is a good thing that they are taking this long and doing 2 audits to make sure just in case imo :smiley: