Optimism 1bp Fee Tier

Description

Since the original proposal to introduce a 1bp fee tier last fall Discussion Adding 1 Basis Point Fee Pools in v3, there has been overwhelming data produced supporting the effectiveness of a 1bp fee tier in increasing swap volume on Uniswap.

Currently, the Uniswap 1bp fee tier is only available on Ethereum and Polygon (Polygon 1bp Fee Tier 1), but I believe there is logic to deploying the fee tier to every chain that Uniswap is deployed to, given how impactful it is on stable swap volume. Optimism makes for an excellent candidate to deploy the 1bp fee tier to next, given the recent spike in activity.

Since this result of the proposal will be executed on Optimism, the executing action needs to be forwarded to the proper target. To do that, Timelock will send the transaction to OVM_L1CrossDomainMessenger (Optimism mechanism to forward transactions from L1 to L2).

The transaction will then be sent via Optimism contracts to Uniswap’s CrossChainAccount, that is the privileged contract that can execute administrative tasks on protected contracts on L2 Optimism, and CrossChainAccount will forward the transaction, if it has the right origin, to the target Contract, in this case to UniswapV3Factory.

This proposal has been already been executed on Kovan as a test. Kovan Proposal Kovan Optimism Execution

More info can be found on the consensus check forum thread. Snapshot

start

July 9, 2022

4:03 PM

end

July 15, 2022

9:24 PM

Voting

on-chain

Voting type

basic

Voters

945

Votes

50,635,143

Final Votes

closed

Against

390.7 UNI

For

50.6M UNI

100%

Abstain

3.1 UNI

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%

Optimism 1bp Fee Tier

Description

Placeholder title of a dao proposal

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Optimism 1bp Fee Tier

Description

# Optimism 1bp Fee Tier