IIP-180: Reduce dsETH Fees to Zero
IIP: 180 Title: Reduce dsETH Fees Status: Proposed Author: @mrmadila Reviewer: @allan.g Quorum: ~627k (10% of Circulation supply of $INDEX) Date: 02 Nov 2023
Simple Summary
This proposal presents the opportunity to INDEX holders to reduce the dsETH Streaming fee from 25bps (0.25%) to 0bps (0%) as recently discussed in this previous forum post.
Abstract
The current fee structure of dsETH is as shown below: Streaming Fee: 25bps Mint Fee: 0bps Redeem Fee: 0bps
After additional market research and collecting feedback from core customer categories, we would like to propose that fees be reduced as shown in the specification below: Streaming Fee: 0bps Mint Fee: 0bps Redeem Fee: 0bps
Motivation
The objective of reducing dsETH fees to 0% is to increase access to staked Ethereum yield and encourage greater staking participation. If successful, the adoption of dsETH will reward decentralisation efforts and help secure the Ethereum network, and consequently help the product gain traction and promote awareness of Index Coop’s overall brand.
Voting
FOR: Eliminate 25 basis points (0.25%) Streaming Fee for dsETH in accordance with the specification.
AGAINST: Make no change to dsETH fee structure.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x03Dc...86c368 | 212,530 | FOR: Eliminate Streaming Fee |
 0xF94d...8C2509 | 211,672 | FOR: Eliminate Streaming Fee |
 0x5a3c...3d0B35 | 85,734 | FOR: Eliminate Streaming Fee |
 0x5f1C...08c3af | 61,000 | FOR: Eliminate Streaming Fee |
 0x6050...42525E | 44,934 | FOR: Eliminate Streaming Fee |
VOTE POWER
Proposal Status
- Fri November 03 2023, 02:00 pmVoting Period Starts
- Mon November 06 2023, 02:00 pmEnd Voting Period
Current Results
1-FOR: Eliminate Streaming Fee
699,223.427
2-AGAINST: Do Not Change Fee
1,996.518