Simple Summary

Ensure there is a value capture method for L1 Perps on SNX.

Abstract

Add a 1bp fee to all orders processed through Kwenta for SNX L1 Perps.

Motivation

SNX will include no fee sharing on L1 and Kwenta is tasked with adding this market to our frontend as one of their closest partners. To ensure alignment in servicing L1 SNX perps, we will add a 1bp fee. This fee will be distributed to the treasury to support maintenance costs of the product with the option to expand use of fee capture in the future.

Specification

Add a 1bp fee to all orders on L1 Synthetix perps. The rewards will be sent directly to the L1 Kwenta treasuryDAO Safe at 0xD86ce2D00A3C139e21517E4bB6A55d398E81B79a.

These fees can be used at the treasuryDAOs discretion to ensure operational costs are covered before considering redistributing to KWENTA stakers.