As we can see, recently the commission for borrowed funds has dropped to 0.01%, which significantly affected the referral payments as well. But in view of the fact that LEND will no longer be burned, what will happen to the referral program?
UPD: 31.07
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Same as with the current burning of the LEND from the borrow origination fees, I agree it is a quite important topic to discuss.
However, this affects more the Aave markets and their economic dynamics than the aavenomics themselves, as the referral program is distributing the fees in the currencies they are received.
Initially, there is no limitation (technical at least) to still keep a fee of some nature from the markets to referrals, but I suppose it depends a lot on other discussions/proposals concerning the relation between markets/aavenomics too.
@Ciro.Timvi i think would be very cool to format this thread as an initial proposal to bootstrap the discussion - it’s a very important topic
@Ciro.Timvi Its not sure that burning will stop yet, it will depend on what is decided to do with the fees.
I think there is a need for aproposal to make overall change to the fee capture and redistribution structure, it might not need to come from the borrowed fund. There is many other part where fees can be taken.
Integrators which used to be rewarded by the ref program might still get a cut of the fees if governance decide to keep incentivizing them, although they will already receive the AAVE EI corresponding to their users deposits.
But like Emilio said I think this deserve a whole thread on integrators incentives.
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I found that answer.