[GIP-25] Remove Withdrawal Fee
Motivation
Remove the 1% withdrawal fee on the pools side.
Summary
The concept of a withdrawal fee was never supposed to stay for long, it was only there to prevent fluctuations during the first weeks of usage. Fluctuations refer to the fact when pools only have $2-4M and large withdrawals can shift borrow rates up-down too much. That was an inconvenience. Not anymore.
While this is in no way sticky liquidity, everyone is entering pools under assumption 1 that the fee won’t be there. Therefore, a few weeks into V2 full usage, withdrawal fee shall be removed fully. At that point, LPs can decide whether they want to stay for the organic APYs and the proper LM program — or leave.
This was never a sustainable revenue-making source for the protocol.
The other two are: https://docs.gearbox.finance/overview/protocol-fees
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x8bd8...56692b | 32.078M | Remove the withdrawal fee |
 0x7BAF...218e22 | 26.146M | Remove the withdrawal fee |
 0xb9b7...6CceeA | 22.8M | Remove the withdrawal fee |
 0xBE35...16CDa2 | 21.39M | Keep the fee [explain yourself] |
 0x81E8...Fd2c08 | 20.57M | Remove the withdrawal fee |
VOTE POWER
Proposal Status
- Wed October 26 2022, 09:31 amVoting Period Starts
- Sat October 29 2022, 09:31 amEnd Voting Period
Current Results
1-Remove the withdrawal fee
255.799M
2-Keep the fee [explain yourself]
31.944M