Well, 10% is a lot. All the users who have minted vDOT didn't expect that. If there is a change, can it be applied only for future minting?
Does it mean that the APY for vDOT staking on Bifrost will be 18% minus 10% = 8%? I think no one will want to stake here in that case.
As I understand with the current fee the treasury has earned a good revenue because of the great adoption. Why change that?
But I agree with the buyback with the already earned fees. It is only fair as the treasury has provided incentives in BNC all this time.
I'd say do this slowly starting with 0.5-1. Also, it's important to note that a new batch of releases of locked DOT is on the horizon. 0.1% charge(the best of all the protocols) remains a very good reason for users to mint vDOT.
We could wait until 1 week after the release of the next batch if you want to see if it is a determining factor. But we definitely should raise the % of fee rewards.
In my personal view I have not seen anyone comment that vdot has 0.1% fees and that is why they are going to use it, in fact I have not seen anyone mention it with any other LSD protocol, so I think it will not have a great impact.
It is the payment that is given for the possibility of obtaining extra yields and/or remaining liquid meanwhile stake
but the protocol should take advantage of the largest source of revenue it has.
so if I'm in favor of going back to 10% and if the percentage is very large, and so much comunnity disagree maybe between 5% -10% is a good figure to consider
More vDOT minting = more vDOT usage scenarios = more yield = Bifrost has the ability to charge more rewards fees while providing higher yield to users.
So I think the primary goal at the moment is more vDOT minting, the 0.1% promotion can promote the minting volume of vDOT, IMO the 0.1% rewards fee will last at least until the second round of Polkadot Crowdloan is unlocked, after that, what better time to initiate this proposal.
It should return to 10% in mid-Feb.
But i agree we need to start building the Treasury too.
Maybe do it slowly from 0.1% to 10% ?