Vote to Decide the Fate of Binance-Listed Altcoin Coming Soon!
An important vote on the underlying mechanisms of the Binance-listed altcoin will take place soon.
LayerZero (ZRO), an omnichain interoperability protocol, has announced a public vote scheduled for December 19th, where ZRO holders will vote on the activation of a fee switch mechanism.
According to LayerZero's official documentation, ZRO owners have permanent authority over the accumulation and management of protocol fees. An immutable voting agreement mandates a public, on-chain referendum every six months to decide whether to enable or disable the protocol's fee switch.
If enabled, the fee switch would allow LayerZero to collect fees equivalent to the costs associated with verifying and executing cross-chain messages. For example, an application using a specific Data Validation Network (DVN) and executor configuration that charges $0.01 for transactions between Arbitrum and Optimism could see LayerZero impose an additional $0.01 fee.
