LayerZero's "Fee Switch Activation" proposal has entered the voting stage

BlockBeats News, December 20th, according to official sources, the LayerZero "Fee Switch Activation" proposal has entered the voting phase.

According to the previous official documentation, ZRO holders will always control the accumulation of protocol fees. An immutable voting contract enforces a public on-chain referendum every six months, allowing ZRO holders to vote on whether to activate or deactivate the protocol's fee switch.

The LayerZero protocol may charge a fee equal to the total cost of validating and executing cross-chain messages. For example, if the application chooses to charge $0.01 for transactions between Arbitrum and Optimism, LayerZero can also charge a $0.01 fee.

If the fee switch is activated through governance, the referendum treasury contract will collect fees on the native chain and burn those fees.