| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-178 | Reduced SafeBox fees for THALES stakers | Draft | padzank | Reduced SafeBox fees for THALES stakers | 2023-11-03 |
Implement up to 50% reduced SafeBox fees for THALES stakers depending on their THALES Staked Multiplier
Currently there is a 2% SafeBox fee across all Thales products
This TIP proposes to add additional utility and benefit to staking THALES in a form of reduced SafeBox fee to a minimum possible value of 1% when using Thales products. This means THALES stakers will have better pricing for Thales Markets and better odds for Sports Markets compared to non-stakers.
SafeBox is proposed to reduce linearly from 2% up to 1% inversely proportional to the THALES Staked Multiplier that goes between 1.0 and 2.0 respectively based on the amount of THALES staked.
To further add to the utility of the THALES token staking and award the most aligned members of the Thales Protocol community, there is a tangible benefit in having the best pricing and odds if you are staking THALES. The 1% difference in total fees is significant for all active users and should add additional motivation to explore staking the THALES token.
This proposed solution is using the THALES Staked Multiplier as a function of determining the fee reduction. The benefits of this approach is to reduce the overhead of the technical implementation and also leverage the fact that THALES Staked Multiplier already has a hard cap of 2.0 for stakers with more than 100,000 THALES staked which is a perfect fit for this use case as well.
This TIP entails the Thales Protocol DAO to deploy a solution that uses the THALES Staked Multiplier of individual wallets to set a reduction of individual SafeBox fee for those wallets. This is to be implemented to be equal the following calculation:
User SafeBox fee = Default SafeBox fee - Users getStakingMultiplier/100
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