Hi pupking. The proposal to implement Protocol fees passed already. Details on the fee structure can be found below
Using CFG for both yes? I find that native protocol tokens that have lots of tangible uses for their native token have better price action and more innovation due to that. Especially with a platform tech such as centrifuge that has the potential to be the mother of all protocols. With regulation around the corner it would be wise to pass whatever token model before then after, not to mention it will increase in market share most likely because of.
I think #2 in that proposal is an important step to decentralization. But instead of direct democracy it should instead be used to nominate decision makers. Everyday users can’t be expected to be able to evaluate pools.
I also support charging fees, but they need to be kept competitive. In the interest of keeping things frictionless for borrowers though, I don’t think it matters if they pay in cfg or if they pay in stables and we swap to CFG on the backend.
Similarly, I worry about the friction borrowers would experience if we required locking cfg. We are basically saying “if you want to use our venue to raise money, you have to be long CFG”. No tradfi venue would make you do that, and I’d want to avoid things that make our product less attractive. We need to draw in more real world assets at this point, and we won’t do that by making them hold a token.
Thanks for your additional remark. What you are basically proposing is to nominate some kind of delegates who aggregate voting power from CFG-token holders and who use this cumulated amount to support certain pools?
Yeah the idea is that ultimate power rests with token holders, but day to day business decisions need to be left to professionals. Being decentralized doesn’t have to mean token holders make every last decision. For the same reason that stock holders have management teams on their companies, or why the world is full of Republicans instead of Direct Democracies.
Direct coin voting on every issue is also pretty trivially exploitable to folks with deep pockets. That’s a feature if you’re a Solidly fork or Curve, but not if you’re trying to become a reputable destination for RWAs to raise capital.
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I also think it would be great to pay fees in the stablecoin used by the pool - I think IntegriTEE has already developed an oracle for having the price in USD for the parachain native token at their disposal. And there are also other chains already accepting fees in various tokens (from the top of my head HydraDX but there are others for sure) or even being feeless (Mangata).