3m Fee Waiver as Incentive

Curators
1

Summary

Keyring proposes EulerDAO temporarily waive fees for the first 3 months on the upcoming permissioned cluster as a cheap, non-dilutive incentive.

About Keyring Network

Keyring Network creates zkVerification for instant on-chain auth using a number of well known websites such as banks and exchanges. The authorisation works in the same way as Google login flow (i.e. OAuth), but permits users to anonymously authorise wallets on-chain with their web2 accounts. Keyring Network is proud to facilitate Euler’s first zkVerified cluster.

Ask

0-3 months post Launch

  • Set EulerDAO fee to 0%

>3 months post Launch

  • revisit

“Launch” being defined as the date at which the cluster is announced on Euler social media.

Community

Keyring is committed to growing Euler’s permissioned markets significantly and is grateful for Euler’s support. We welcome feedback from the community and look forward to aligning interests for sustainable growth.

2

Euler Labs supports Keyring’s proposal to set the Reserve Fee to 0% for the first 3 months post-launch of the permissioned market.

As outlined, a temporary fee waiver is a low-cost, non-dilutive incentive to bootstrap activity. Given the exciting opportunity with RWAs and the competitive dynamics around onboarding early institutional liquidity, this approach should improve borrower competitiveness and accelerate utilisation and TVL formation in the cluster.

We agree with revisiting the parameter after the initial 3-month period, as proposed, once the markets have matured and meaningful utilisation has been established.

– Euler Labs