Post by @stani • Hey

With LIP-16, Lens Protocol is now earning treasury fees on Bonsai (and other assets) from all paid actions https://polygonscan.com/address/0x6b5d40412956b8

Stats

Comments

I’m not sure that a flat rate fee of 5% on every collectable makes sense. Every collectible holds different value which places the fee structure on a sliding scale. For instance, collectibles priced at: 1 USDC = 0.05 USDC fee 10 POINTLESS = 0.50 POINTLESS fee 100 WMATIC = 5 WMATIC fee 1000 BONSAI = 50 BONSAI fee How is the fee value determined? Why does one collectible require more fees than another? Does it cost the protocol and front-ends more if a collectible is priced higher and collected? I guess this approach is similar to how marketplaces have set up their fees. But Lens is not a marketplace, and doesn’t provide a secondary market for collectors. In fact, many Lens collectibles do not display properly on other marketplaces or inside wallets. I’d feel much better with the protocol and apps taking fees if our collectibles were indexed and displayed in a viewable/ collectible format across all web3 platforms. I can’t view Lens collects properly in my wallets. In Zerion and Family wallet I only see a random selection of Lens NFTs and images don’t load (I see a ‘broken img’ & ‘dice’ icon instead). Coinbase Wallet shows me a ‘crystal ball’ icon for many of my Lens collects. On Interface, I don’t see my Lens NFTs at all. Many of the NFTs don’t show readable metadata, and don’t display the name of the NFT or the artist (see images attached here). I think this LIP was too early and passed too quickly without feedback from a wider range of Lens creators. I totally understand and support the underlying need and intention for fees. But I don’t think this current iteration was the best choice. I also agree with @lens/punkess that @lens/lens should be the home for LIPs, and posts should be made notifying the community when LIPs are being discussed and committed.
I guess I missed this LIP - imho the home of LIPs should be @lens/lens . Anyhow, I’m pretty surprised, can you pls eli5 why @lens/lens thinks that’s a clever move rn. Feels a bit like ☝️👇🤷♀️ (It’s great to see though that $POINTLESS is on Lens’ balance sheet ;-))
$Bonsai🤙
👀💚