Not sure what you mean here, of course users are the users. It is the developers who build the tools and integrations for the users to make that possible. Without devs you have no users.
One important thing to consider as well, we know that users do not care about the 0.25 mint fee because they pay that with WBTC without any complaints, the fee has never been an issue for end users.
I agree that lower fees will be beneficial for integrators and arb bots, there has already been discussions to have a separate fee structure for integrators like 0cf, same could be done to projects like Curve, arbitrage bots and so on. This is a separate discussion which has more merit in it imo.
But to claim that retail (end users) think the fees are too high is pure nonsense and if someone feels that is true then they should present proof to back that up.
Good question and a very important nuance to this. There are a few ways to see things.
When we as community and ren team decide to reduce fees we directly incentivize increase of TVL and it becomes a direct action by the ren team (since its centralized now) of using fees as a mechanism of adoption and control. That is how the market will see it, they will hold the ren team responsible for the growth of TVL.
Donāt forget the increase of mint fees was a successful endavour. We actually managed to slow down the explosive growth of TVL while at the same time not killing node rewards. Many people see it as a bad move but it did exactly what the intention was(!!)
(Yes, you should be happy TVL is reducing, it is indeed to our benefit right now.)
Let me give you an example, have a look at this tweet.
We all know how much chris was hating on renVM and the increase of TVL last year, now he actually seeās the project as more professional and responsible, not just some pump and hype project.
I am willing to make a bet, as soon as we decrease mint fees and TVL starts growing people like chrisblec will once again start attacking and spread fud about renVM, and they will be correct in doing so, they are not wrong!
This only harms the project as the team will be forced to address the fud, deal with lawyers and take the risk of legal action and as a result be distracted from what is really important, deliver a decentralized protocol.
There are many bitter and cringe people in crypto, many projects try to attack other projects in many ways, some take it too far. It is very important that attack vectors are well thought through and mitigated before we go on a crazy marketing spree and push renVM as hard as we can.
To summarize the above, we need to be smart with our approach as we currently do not have a ready product. You keep comparing renVM to wBTC which is fine, but there is a huge difference, wBTC are centralized and deliver what they say, renVM is not ready yet.
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Now there is another way to increase adoption without tinkering with fees which I am in favor of, I believe this is the only responsible way forward until greycore is launched. And that is to educate other protocols about renVM, get the word out there, interact with others, build trust with other projects, plan for the future.
If we manage to educate other protocols and they chose to push renBTC then that will be their decision and their responsibility. That way volume/velocity can grow without the ren team being held responsible.
When we add proposals in Aave, Compound and engage in discussions in their community we are actively trying to educate them and help them understand renVM better. We are not pushing any users to āgo and use renVM right nowā. We are building the infrastructure and relationships with integrators and future developers that will benefit renVM in the long run.
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When you look at numbers right now and feel bad about not having same growth as wBTC/hBTC you are missing the bigger picture, it is the future integrations and relationships with other projects that will bring volume and velocity. I suggest you forget renVM as an end-user product, renVM is infrastructure, the most important component of renVM is the community of developers and integrations, users are just the end result of succesful partnerships with other projects.
What we as a community should do now to support the ren team as much as possible is to act as a protective shield and let them focus on delivering. We shouldnāt add extra risk because we feel things are going slow and we are missing out. We should help educate the crypto ecosystem about renVM, get involved, get the word out there.
Some of us are working very hard with other projects to build trust and future relationships. Interacting with other projects and gaining their trust takes time and is very tedious(!!)
If I am trying very hard to give a professional perception of renprotocol which other communities can rely on and build upon, when we suddennly make an irresponsible move to incentivize TVL growth when there is huge risk involved that just destroys the trust that has been build up.
If we reduce mint fees and TVL rockets there is nothing I can say to other projects to defend such action. We will just look like binance who try to undercut others fees to our benefit while we are still a centralized shitcoin (yes that will be the perception, not saying thatās my opinion).
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Anyway, sorry for the long rant but felt like I needed to clear out some points. I honestly feel like Iām wasting my time here to some degree, I find much more pleasure in trying to push renVM and educate people on why renVM is awesome instead of this neverending fee discussion.