Prop 592: Reduce Onchain Maker Fee Rebates

As a result of increased trading volumes across protocols on Injective, if this proposal passes, the maker fee rebate will be decreased from 0.005% (0.5 bps) to 0% in order to increase fees allocated to the INJ community buyback.

Specifically, the fee for maker orders across protocols on Injective will change from -0.005% to 0%. The decrease in the maker fee rebate ensures that Injective remains adaptive and resilient while continuing to be one of the highest revenue generating chains in the industry today. With this latest proposal, Injective aims to continue its trajectory of growth and innovation, ensuring that INJ remains at the forefront of Web3 finance. This change will be done in waves with the goal of continuing to increase INJ revenues and community buybacks.

This proposal will also settle the APR/USDT PERP market at the mark price at the time of settlement.

Actions:

• By voting yes on this proposal, you agree with decreasing the maker fee rebate to 0% for the pairs included in the proposal, and support settling APR/USDT PERP.
• By voting no on the proposal, you do not agree with decreasing the maker fee rebate to 0% for the pairs included in the proposal, and do not support settling APR/USDT PERP.
• By voting no with veto, you find this proposal to be spam/irrelevant/malicious to governance, and contribute to burning the 100 INJ deposit if NoWithVeto votes are greater than ⅓ of the total voting power.
• By voting abstain, you wish to contribute to the quorum while formally declining to vote either for or against the proposal.

Disclosure: I am a member of the Injective Labs team.