$BLUR
The proposal for 'BLUR Fee Conversion and veBLUR Token Economics' put forward by Split Capital at the Blur governance forum mainly includes the following points:
1. Increase in protocol fees: The proposal suggests eliminating the mandatory 0.5% creator royalty currently enforced in the Blur NFT marketplace protocol and adding a 0.5% protocol fee to each transaction.
2. Establishment of a fee committee: The proposal also suggests the establishment of a fee committee, which would have the authority to quickly adjust the protocol fee rates based on market conditions and competitive landscape.
3. Changes to token economics: Split Capital proposes changing the BLUR token economics by using two tokens, BLUR and veBLUR, to manage the utility and governance of Blur. This model is similar to Aerodrome.
4. Reward distribution: The proposal mentions adding 1% of the total supply (30 million BLUR) as rewards to the current 4th season, which will be distributed to Blur users based on their total points at the end of the season.
5. veBLUR token: veBLUR is used for governance, and BLUR holders can vote with their tokens and exchange them for veBLUR. Other tokens can be added to the veBLUR NFT at any time, with a lock-up period (voting custody period) of up to 4 years. The longer the vesting time, the higher the voting power of the underlying locked balance.
This proposal aims to enhance the governance and utility of the Blur platform by increasing protocol fees and redirecting fees back into the voting-locked BLUR (veBLUR) tokens, while incentivizing users to participate long-term and contribute to the development of the platform.
