Adjust MILADY vault fees

Proposals
1

Authors

  • floordao.eth

Glossary

  • DAO
  • Vault Settings
  • Fee Structure

Summary

This proposal is intended to change the MILADY vault fees to
5/2/3/2/8
from currently
10/4/6/4/10

(Fees are defined Sell/Random Buy/Target Buy/ Random Swap/Target Swap)

This is being put forward as the majority owner 84.4% of the LP vault staking:

Screenshot 2023-01-20 at 4.27.01 PM
Screenshot 2023-01-20 at 4.27.01 PM1532×412 127 KB

Rationale

The entrance of blur and sudo have changed the competitive landscape for many NFTs including Milady Makers. Buy/sell spreads are regularly within 0.1e Fastest NFT Marketplace for Pro Traders, where the buy/sell on the NFTX vaults are currently more than 3x at 0.32e Milady Maker Vault | NFTX. In order to stay competitive, we would like to progressively decrease fees to stimulate more trading activity. Increasing pricing competitiveness would also induce more arbitrage with other marketplaces and allow the spot oracle to stay tighter with overall market prices, improving pricing for our partner nftperp.

Opportunity

More trading volume, fees, and tighter oracle

Risk

  • Lower fees if trading volume doesn’t increase enough to make up for fee reduction

Specifications

If this proposal passes, we will update the MILADY vault to match the settings and fees outlined above.

Funding request

No. This request requires no funding.

Communication

Quorum (for forum)

  • Minimum Quorum: At least 5 votes
  • Passing Threshold: More than 50% must vote in agreement
  • For
  • Against

0 voters

2

+1 voted yes, good shout.

3

The poll has reached qourum and will move onto the next phase.

@aeto Next step is to sign a message on MyCrypto - Ethereum Wallet Manager signed in as the majority LP holder with the following message

vaultId: 392
Mint: 5%
Random Rdeem: 2%
Target Redeem: 3%
Random Swap: 2%
Targeted Swap: 8%

and then send that through Vault Fee Update · NotionForms Once received NFTX will stage the updates and vote through the changes.

These steps are outlined here - https://academy.nftx.io/nft-projects/how-to-update-existing-fees/