[PIP-042] Decrease CurveProxy.crvFeePct to 0%

DAO Proposals
1

Summary

This publication proposes revising the fee taken on CRV earned through Prisma deposits from 20% to 0%.

Abstract

This publication proposes revising the fee taken on CRV earned through Prisma deposits from 20% to 0%. The aim of reducing the fee is to encourage liquidity providers to pair and use PRISMA, mkUSD, and ULTRA more by providing them with a larger share of the CRV emissions.

Motivation

Since the launch of Prisma, the DAO’s veCRV position has grown to over 2.3 million. To further stimulate liquidity for PRISMA, mkUSD, and ULTRA on Curve this proposal aims to reduce the fee on CRV from 20% to 0%. In the future the DAO can consider increasing the fee to recapture veCRV to help with voting more emissions towards Prisma.

Specification

Update the CurveProxy.crvFeePct as followed:

Target (CurveProxy): 0x490b8c6007ffa5d3728a49c2ee199e51f05d2f7e
Method: setCrvFeePct
Parameters: feePct=0

Next steps

Feedback is important, please comment. The proposal will go next on a Snapshot vote if a consensus is reached.

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