AIP #26 - Implement a 1$ flat beaming fee on all networks
Tl:dr Implement a 1$ flat beaming fee for all MIM beams across networks. Such Beaming fee will be paid in gas tokens on the origin chain and will be used as treasury revenue.
Overview
It has been more than one month since the launch of MIM Layer Zero integration, which has brought unparalleled speed and efficiency to Abracadabra’s bridge infrastructure.
The Omnistable MIM is now supported on more than 8 chains and has achieved some outstanding results.
As of today, the total MIM beaming volume has been more than 158,202,717 $MIM, with a total of 1,382,821 individual beaming transactions and more than 280,274 individual addresses interacting with our contracts.
Source: https://dune.com/brab/beam, credits to @BrabDdy for making this dune analytics page.
It is now time to utilize this efficient and reliable beaming infrastructure as a new source of income for the DAO and its treasury.
Proposal
As mentioned in its launch article, the omnistable design allows to implement fees in it that can be used to further increase the DAO profitability and runway.
The following proposal is to implement a fixed 1$ fee, paid in native gas tokens, on the origin chain for all MIM beams.
The user experience will be simple and smooth.
Let use a user that is willing to beam 100 MIM from ETH to AVAX. The beam transaction would cost $5 in gas fees. To this 5 dollars, the following proposal proposes to add an additional 1$, raising the total cost of the transaction to $6, paid in this case in ETH. The user would still receive 100 MIMs on AVAX, but he will have paid in 1$ in ETH gas more.
No matter the MIM size of the given beam transaction, 1$ will still be the flat additional gas cost.
This 1$ will be treated by the DAO as treasury revenue and will be used to increase protocol runway, pay for operational expenses. Further proposals will be posted to change the usage of these revenue, similar to any protocol revenue coming into the DAO treasury.
Further changes to the beaming fee, will be able to be approved by the DAO in a speedlaned manner, with only a 24 hours voting period, using the following template:
AIP #26.X - Raising/Lowering the beaming fee to XXX$.
Voting
The following proposal will remain as an AIP for 2 days, and then be subjected to a 72 hours vote on snapshot. If the proposal was to pass, the beaming fee would be implemented in Abracadabra’s beaming smart contracts.
The Snapshot vote has been posted here.
The snapshot vote has passed!
As always I encourage discussion and feedbacks both here on the Forum and on Discord!
