Split Capital proposed 'BLUR fee conversion' proposal, suggesting increasing protocol fees and flowing into veBLUR

BlockBeats news, on November 12, Split Capital proposed the ‘BLUR Fee Conversion’ proposal at the Blur governance forum, aiming to add a framework to increase protocol fees and redirect the fees back to the voting-locked BLUR (veBLUR) Token. So far, the Blur Non-fungible Token market protocol has implemented a 0% market fee while enforcing a 0.5% creator royalty. The proposal suggests removing the enforced creator royalty and adding a 0.5% protocol fee to each transaction. It also proposes to establish a fee committee that can change the protocol fee rate for rapid adjustments based on market conditions and competitive landscape. Split Capital proposes to change the BLUR Token economy, using two tokens BLUR and veBLUR to manage Blur’s utility and governance, similar to Aerodrome. It also proposes to add 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.