LayerZero To Vote On Protocol Fee Activation

According to Foresight News, LayerZero has announced a vote on whether to activate protocol fees, scheduled to begin on December 20 at 8:00 UTC+8 and conclude on December 27 at 8:00 UTC+8. This vote will determine if LayerZero will start charging a protocol fee for each message, with the collected fees being used to repurchase and burn ZRO, thereby reducing its circulation. The proposal suggests a fee structure where messages between Arbitrum and Optimism would incur a cost of $0.01 in DVN/executor fees. An additional protocol fee of $0.01 would be charged, bringing the total cost to $0.02. The $0.01 protocol fee would be collected in a funding contract that automatically repurchases and destroys ZRO. For the referendum to be valid, at least 60% of the circulating supply, equivalent to 65,968,349.4 ZRO or more, must participate in the vote.