LayerZero will conduct an on-chain referendum on December 19th to decide whether to enable the protocol fee switch
Risitas Capital shared a post stating that LayerZero (ZRO) will hold a public referendum on December 19 to initiate fee conversion.
According to previous official documents, ZRO holders will always control the accumulation of protocol fees. An immutable voting contract enforces a public on-chain vote every six months, allowing ZRO holders to vote on whether to enable or disable the protocol's fee switch.
The LayerZero protocol may charge fees equal to the total cost of validating and executing cross-chain messages. For example, if the chosen DVN and executor configuration charges $0.01 for transactions between Arbitrum and Optimism, then LayerZero can also charge a $0.01 fee.
If the fee switch is activated through governance, then the referendum treasury contract will collect fees on the local chain and destroy these fees.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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