This proposal adjusts vKSM, vBNC, vMOVR commission rate from 0.1% to 10%.
According to the Roadmap, Bifrost will launch the new BNC Tokenomics in the 3rd quarter of this year, which means that vToken will serve as the main source of protocol revenue to support BNC's stable ecological and economic cycle. All the vToken Commission will all be kept in the treasury, and will be used for BNC repurchase after the new tokenomics goes live and continue to incentivize veBNC holders, vToken Farming and etc.
vTokens for this commission adjustment:
Bifrost-Kusama
vKSM: Commission rate 0.1% ⇒ 10%
vBNC: Commission rate 0.1% ⇒ 10%
vMOVR: Commission rate 0.1% ⇒ 10%
More Commission allocation and usage scenarios can be discussed through Bifrost's upcoming OpenGov Treasury Track.
Stay tuned.
Vote aye of the proposal, 10% commission is currently a value in line with market competition and the sustainable development of the BNC tokenomics. As Bifrost gradually matures and decentralizes, the community can promote more diversified commission parameters.
I think commission is a value that can be adjusted dynamically. At present, 10% on these vTokens is reasonable. It can ensure that vTokens still have sufficient basic rate of return (compared with the average level of the original chain and has a direct and obvious advantage) , and at the same time, it also satisfies part of the vision of BNC's new economic model. It is a worthwhile attempt for the subsequent development of Bifrost and the community users of Bifrost