Speaking just as a community member, I think we need to consider whether free fees would work, just the same way as yield farmers jump between the best farms and don’t have any real loyalty to protocols. Would those who come to us because it’s free keep using us when fees are bumped up later (because it’s definitely not sustainable to have 0 fees indefinitely, eventually it has to change)? Something to consider at least.
Need some clarification here, what do you mean by H2H transactions? We have the mint fee, the burnAndMint fee, and the burn fee, minting renETH has the same fee as minting renBTC currently, they are not different in that regard. I’m not sure if the feature to set unique fees per asset is live yet, just want to flag that this is potentially something that would need a little time before it would be hard-forked into mainnet (even if it’s not a challenging update, we still have strict development pipelines to make sure no bugs or exploits are introduced from a change).
Everything is on-chain so it’s possible to track unique addresses using Ren, not necessarily RenBridge though because there are other third-parties minting through Ren. But assuming we are talking about H2H assets here, in the short-term only RenBridge will support that so yeah you could easily track it.
Just want to point out that the TVL increase here corresponds with BTC running up in price. Even if the minting fee was 100% the TVL would likely have increased in USD because of the BTC price going up, not because more actual BTC got minted, so it’s more fair to check it against BTC:
I don’t have any official statement from Ren Labs at the moment, but it would be something along the lines of a moderate position, although it’s up to the community. We’re open to the minting and burning fee being changed, but advise against extreme changes as ultimately Ren Labs bears the most risk from too high TVL at the moment. Ren Labs would not be comfortable if for instance the mint fee was set to 0%, and possibly not 0.1% either. But it could certainly be below 0.3%, but posting any real numbers would be arbitrary because there is nothing magical about any specific value in this case (that we know of at least).
We are certainly also trying to speed up Greycore deployment now that most of the technical blockers are resolved.