Authors: Davoice321, JMKWorld, Wes
Note: This request is being posted in the General channel, as it does not meet the requirements for submission as an RFC.
The RenLabs/Ren team is in the process of potentially implementing major changes to fundamental aspects of the protocol given the ongoing work with the Catalog team. Given this we are submitting this post requesting more clarity, transparency and information from the core development team regarding their plans for the Catalog/Ren integration, especially as it relates to changing the current fee model.
There is ongoing (oftentimes heated) debate in the Discord regarding this issue (given that vital information is not being communicated clearly), and this is being posted to the Governance forums to shed light on these contentious topics and provide an opportunity for the team to respond formally, via RFC and RIPs to gather responses from the community and articulate their plan of action.
The recent Catalog AMA indicates that the Ren Team is “working on the fee model for applications like Catalog.” Furthermore, the article states: “This decision will be made by the Ren team, and will come into effect 60 days after the decision is officially announced.”
This is a formal request from the Ren community and Darknode owners (DNOs) that the Catalog/Ren Labs team develop RIPs outlining their proposal for a Catalog-specific fee structure for DNO review and approval (and later an RFC regarding a recommendation on longer-term fee structures for Darknodes for similar applications).
Given the speed of development and need to implement quickly, we ask (if possible) that RIP(s) be developed and published within 7-10 days, and an RFC be developed within a reasonable time frame (potentially within 30 days).
Over the previous weeks and months, the Ren Labs/Catalog teams have been making great progress in developing an application suite that will rely on Ren’s demonstrated security, reliability and efficiency to drive the Catalog application.
The recently published Catalog AMA indicates that the Ren team will be making decisions about the short- medium- and long-term fee structure for Catalog (and potentially subsequent applications) soon. The Ren team may have also – potentially – decided to bypass the normal RenVM mint/burn fee structure specifically for Catalog, although this is not clear.
Over the past year, the Ren team has encouraged the community and Darknode owners to take additional responsibility for the governance of the network, especially when it comes to implementing fees for applications utilizing Ren (as a bridge or Layer 0 application). Given this it is vital that the community and DNOs not only be consulted, but asked to approve recommendations regarding short-, medium- and long-term fee dynamics for Catalog and subsequent applications built on top of Ren.
The purpose of this post is to formally ask the Ren Labs and Catalog team to develop 1 to 2 RIPs (and 1 RFC) that outline:
Whether the standard Ren mint/burn fee structure is being bypassed for Catalog – and if so, requests formal approval of this step from DNOs
Specific details about the optimal short-term Darknode fee structure related to Catalog and which option they recommend Darknode owners implement (which would be put up for a formal vote via Snapshot)
Information about the longer-term options for Darknode fees and the timeline for consideration, community consultation and implementation (this would be developed into an RFC).
Subsequent to the RIP(s) a Snapshot vote would be held where DNOs can select which short-term fee structure they support for implementation, and whether the disabling of standard mint/burn fees is approved (if this is being requested). Structuring of the vote options and RFCs will be up to the Ren and Catalog teams to implement.