The proposal from LayerZero regarding "turning on the cost switch" has entered the voting stage
The proposal about "turning on the cost switch" by LayerZero has entered the voting stage.
According to previous official document descriptions, ZRO holders will always control the accumulation of protocol fees. An immutable voting contract enforces a public on-chain referendum every six months, allowing ZRO holders to vote on whether to enable or disable the fee switch of the protocol.
LayerZero Protocol may charge fees equal to the total cost of verifying and executing cross-chain messages. For example, if an application's chosen DVN and executor configuration charges $0.01 for transactions between Arbitrum and Optimism, then LayerZero can also charge a fee of $0.01.
If the cost switch is activated through governance, then the referendum treasury contract will collect fees on local chains 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.
You may also like
UBS lowers Ciena target price to $394
EUR/USD Price Forecast: Holds key 100-day SMA at start of the US CPI week
Malaysia Govt Spending Plan Could Help 99 Speed Mart Retail -- Market Talk
Paying the price for supporting the yen? Japan's foreign reserves fell by $87.8 billions in August, possibly due to selling US Treasuries for funding.
Japanese authorities may have used part of their foreign exchange reserves, including foreign securities such as U.S. Treasury bonds, over the past month to fund record-sized foreign exchange intervention operations.
Crypto prices
More
