LayerZero launches protocol fee switch referendum, voting will continue until December 27
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LayerZero launches protocol fee switch referendum, voting will continue until December 27
According to an official announcement, LayerZero has launched a protocol fee switch referendum, with voting set to continue until December 27. The proposal suggests charging a $0.01 protocol fee for each cross-chain message, which would be used to repurchase and burn ZRO tokens, thereby reducing their circulating supply. Currently, sending messages between chains such as Arbitrum and Optimism requires only a $0.01 DVN/executor fee; if the proposal passes, users' total cost will increase to $0.02. All protocol fees will be automatically directed through a funding contract to repurchase and burn ZRO.
Navigating Web3 tides with focused insightsTechFlow news, December 20 — According to official announcements, LayerZero has launched a public referendum on enabling protocol fees, with voting set to continue until December 27. The proposal suggests charging a $0.01 protocol fee per cross-chain message, which would be used to buy back and burn ZRO tokens, thereby reducing their circulating supply.
Currently, sending messages between chains such as Arbitrum and Optimism incurs only a $0.01 DVN/executor fee. If the proposal passes, users' total cost will increase to $0.02. All protocol fees collected will be automatically directed through a funding contract to repurchase and destroy ZRO tokens.
