Dear Money on Chain and RIF on Chain Communities,
As co-founder of the protocols, I would like to present a proposal to increase the fees on both protocols, Money on Chain and RIF on Chain. This proposal has two main goals: to improve the tokenomics of the MoC token and to provide additional funding for mimLABS.
Fee Allocation to mimLABS:
As Money On Chain is now a decentralized protocol, the team behind MOC and ROC protocols improvements and communications is evolving to work under mimLABS.
I propose that 50% of the fees collected by the protocols be allocated directly to mimLABS. This allocation will be reviewed periodically to ensure that it aligns with the project’s needs and objectives. The funds raised will enable mimLABS to continue the development and maintenance of both protocols, as well as to increase their adoption through outreach and community building efforts.
Please note that over 50% of the current Staking Rewards comes from the minting of new MoC tokens. This Rewards stream will continue to be distributed 100% to MoC holders, and none of it will be allocated to mimLABS.
Currently, the fees on both protocols are well below the industry standards. Therefore, we propose the following changes to the fee structure for both Money on Chain and RIF on Chain:
- The fee for minting or redeeming tokens paid with RBTC or RIF will increase from 0.1 to 0.2.
- The fee for minting or redeeming tokens paid with MoC tokens will increase from 0.05 to 0.15.
- The weekly fee paid by the Bpros will increase from 0.0048% to 0.01962%%
Given that the BPRO tokens have appreciated significantly in Bitcoin, we believe that this fee increase is reasonable and will not adversely affect the tokens’ attractiveness.
We invite all community members to participate in the vote on this proposal for both Money on Chain and RIF on Chain protocols. Your input is crucial to the future of our projects, and we appreciate your continued support.
If the vote is favorable, the proposed changes will be applied to both Money on Chain and RIF on Chain protocols.
Co Founder of Money on Chain