LayerZero will hold an on-chain vote on December 19 to decide whether to enable the protocol fee switch

ChainCatcher news, Risitas Capital shared that LayerZero (ZRO) will hold a public referendum on December 19 to initiate fee conversion.

According to previous official documentation, ZRO holders will always control the accumulation of protocol fees. An immutable voting contract enforces a public on-chain referendum every six months, allowing ZRO holders to vote on whether to enable or disable the protocol's fee switch.

The LayerZero protocol may charge fees equal to the total cost of validating and executing cross-chain messages. For example, if the DVN and executor configuration chosen by the application charges a fee of $0.01 for transactions between Arbitrum and Optimism, LayerZero may also charge a fee of $0.01.

If the fee switch is activated through governance, the referendum treasury contract will collect fees on the local chain and burn those fees.