TechFlow reported on November 12 that Split Capital has proposed a "BLUR Fee Conversion and veBLUR Tokenomics" initiative on the Blur governance forum, aiming to increase protocol fees and redistribute them to voting-locked BLUR (veBLUR) token holders.
The proposal suggests eliminating the enforced 0.5% creator royalty and instead adding a 0.5% protocol fee on each transaction. It also proposes establishing a fee committee with the authority to adjust fee rates based on market conditions. Regarding tokenomics, the plan recommends introducing a dual-token model of BLUR and veBLUR, similar to Aerodrome.
The proposal further suggests allocating 1% of the total supply (30 million BLUR tokens) as rewards for the current fourth quarter. veBLUR will be used for governance purposes, allowing BLUR holders to lock their tokens for up to four years to receive veBLUR, with longer lock-up periods granting higher voting power. veBLUR holders will receive 100% of the protocol's transaction fee revenues proportionally, settled monthly.
