I haven’t thought this through completely yet, but wanted to make a topic for discussion as I think it’s an important topic. Right now, most users of Balanced are ICON community members who already have ICX to pay for transaction fees. In the future with BTP, I think we’ll get a lot more users from other communities (e.g. BSC, NEAR, DOT, etc.) who may not have ICX to start using Balanced.
I think it could be interesting to allocate some of the DAO fund to an ICX buyback to subsidize transaction fees on Balanced. I haven’t crunched any numbers, but I suspect this is very doable since transaction fees are so low, and the upside in UX could be worth it.
So let’s imagine someone has DOT and wants to trade bnDOT on Balanced. They would convert DOT to bNDOT (I’m not sure how this would work 100% yet, but I assume they’d pay a transaction fee in DOT which wouldn’t be an issue). After that, they can immediately trade on Balanced.
I haven’t used fee sharing contracts before, so I’m not sure if this would still require the wallet to have a little ICX to pay for the very first transaction. If so, maybe we could have a claim page that would allow a wallet to claim a very very small amount of ICX enough for 1 transaction to register for fee sharing.
Obviously this kind of system can be gamed to a certain extent, but I believe it would be a net positive, and the amount of ICX going into such an effort would always be governed by the Balanced DAO.