Offer bridging fee discount with celr staking

Celer Improvement Proposals
#1

Offer bridging discount with celr staking

Make it an option for celr staker to receive discount on bridging or to capture fees off cbridge.

3 Likes
#2

Please use the appropriate template provided when creating the post.

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#3

Well, I gave idea on telegram and doesn’t seem like anybody care about what I said and point me to here, I have no idea what to do with this forum and gave my best, I didn’t get any thanks or whatsoever to care about this project, instead got a rude response from you that pointing me to a place with no direction. I hope this project is more regular user friendly in the future, not just a tech-nerd play ground. Thanks

2 Likes
#4

Hey, sorry if my response seemed rude, that was not the intention.

If you create a topic within the ‘Celer Improvement Proposals’ section, you’ll have a pre-set template that you can fill in with categories (see below). This, so we get as much info possible on the proposals.

I understand that some might not be as techy as others so will keep it in mind for future responses :slight_smile:

So thank you for the proposal/idea! However, could you be so kind to add more specifics/details?

Your Proposal Title

Summary

Your summary here

Abstract

Your Abstract info here

Motivation

Your Motivation

Proposal

Your Specification

Poll

Your poll here (Use cogwheel to build a poll)

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#5

What is the intention, and what is the desired outcome by enabling this ‘feature’? Is the thinking that by offering discount it would entice people to buy CELR and increase the buy volume and therefore the token value? That might not work out, as there are a few potential problems associated with this,

  1. Firstly, how much CELR one should hold in order to qualify for fee discount on the bridge? E.g.,
    • If one holds 1 CELR and get a discount off the bridge, then this would reduce earnings to the LP and stakers
    • if you place a minimum amount before one can qualify a discount, it would still be problematic. i.e., How much should the minimum amount be? How does it balance the incentive due to the reduced fee earned by LP and stakers versus the bridge users buying CELR, so that you’re not causing LP and stakers to leave by wanting to entice the selected bridge users?
  2. How much discount is given? Is it a tiered system based on how much one holds? And will the incentive to buy CELR be offset by the reduced fee earned?

For Celer IM, paying fees in CELR makes sense (as there are no fee discount problems to worry about); And that is already an idea that the Celer team is thinking to implement.
But IMHO, for cBridge users, this is not worth the effort nor risks stated above to implement. The risk reward is not favourable to yield a positive outcome.

Remember that currently within the Celer ecosystem, CELR stakers are earning both fees and staking rewards in SGN. This in itself is a fantastic ‘utility’ of CELR token. Celer IM will likely augment that by requiring partners to pay service fees in CELR.

IMO, it’s unnecessary to implement this proposal, given the existing utility of CELR token is there already.

3 Likes
Integrate Token as part of CBridge Transfer Fees
#6

I like this idea. Do we have any feedback?

Been awhile… does the team have a eta timeframe on when they will respond… I think two week is a long time

1 Like
#7

The proposal was never fully fleshed out. There needs to be additional information provided or a discussion held on how this would work. TL pointed out a good list of questions above. If you have suggestions for this proposal, I would be more than happy to read the specifics.

2 Likes