As discussed in the bBALN proposal, network fee earnings and voting weight will move only to bBALN. You’ll no longer receive network fees or voting weight for being an LP.
As we build continuous rewards and other features, I have noticed considerable work on the smart contract side to maintain network fees and voting weight for LPs.
Given that this feature will be removed anyway, and already has been agreed upon via an on-chain vote to be removed, I’d like to remove it now to speed up current feature development and simplify the smart contract code while also increasing the rewards for BALN stakers. bBALN is expected to be live on main net end of November/early December, so doing this now will offer many benefits for Balanced development while only removing this feature ~1 month earlier than expected.
- Better rewards for BALN stakers sooner than expected
- Less complexity in the smart contract code
- Less dependencies in the smart contract code
- Faster development of continuous rewards
- Removing network fees for LPs ~1 month earlier than expected
- Removing voting weight for LPs ~1 month earlier than expected
As usual, open to feedback/thoughts. I would like to handle this with social consensus rather than forcing another on-chain vote if possible.