SCCP 11: Raise Trading Fee to 100bps Source

AuthorKain Warwick
Discussions-ToTBC
StatusImplemented
Created2020-02-03

Simple Summary

The volume of front running transactions has increased again over the last several weeks as we get closer to the implementation of Fee Reclamation. Unfortunately the Fee Reclamation changes have not yet been submitted for audit so we likely have several weeks before they can be deployed to mainnet. Given this delay and the current volume of front-running we feel it is prudent to raise fees until this change can be deployed.

Abstract

Raise the exchange transaction fee to 100 basis points (1%).

Motivation

To reduce the incidence of front-running until Fee Reclamation is implemented. Once Fee reclamation is live we will need to reduce fees to the standard 30bps to test the efficacy of the change in preventing front-running.

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