This proposal adjusts vDOT, vGLMR 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-Polkadot
vDOT: Commission rate 0.1% ⇒ 10%
vGLMR: Commission rate 0.1% ⇒ 10%
More Commission allocation and usage scenarios can be discussed through Bifrost's upcoming OpenGov Treasury Track.
Stay tuned.
So this means 10% of our staking rewards will be deducted instead of 0,1% now and this 10% goes to the treasury to buyback BNC ? 10% is a lot, no?