Building a Sustainable, Community-Led Organization
We started working on Zerion in 2017 with a clear vision of empowering people to take control of their financial futures with a smoothly designed and intuitive DeFi portfolio tracker.
We’ve now helped more than 1 million users unlock the power of DeFi, processed more than $1B in transactions and integrated more than 500 protocols across 9 chains. During the last four years, the industry has evolved and grown in ways we never could have imagined.
Yet despite seismic changes both at Zerion and in the wider crypto community, we’re still very much at the beginning of the adventure. As millions of new users enter Discord servers, stake assets and buy their first NFTs, it's vital that Zerion prepares for the long term.
Over the last few months, we’ve explored several business models with the goal of becoming a truly independent and sustainable organization that gives back to our community.
Today, we’re announcing that a 0.5% fee will now be applied to swaps on the networks and side chains we support. We will continue offering Ethereum mainnet transactions at no additional cost beyond gas and DEX fees.
This fee rate is significantly less than the charges you could incur with MetaMask and Coinbase. And instead of continuing to price users out by charging even more for Ethereum trades, Zerion fees are only added on networks where transactions are already dramatically cheaper.
Adding fees at this stage allows us to do three exciting things: reduce dependency on outside capital, solidify our revenue stream, and prepare for a decentralized future at Zerion.
Fees Structure & Multisig
As of March 2022, this includes: Avalanche, Arbitrum, Aurora, BNB Chain, Gnosis Chain, Optimism, Polygon and Solana.
Initially, fees will only be collected on our web app.
All fees collected from multichain transactions will be placed in a “treasury-like” multisig contract. Once stored in the contract, it will take multiple people to approve any transaction.
You can see the contract addresses here (created on):
- For Avalanche and Optimism: 0x7d20Ab6D8aF50d87A5E8DeF46e48F4d7dC2Ea5c7
- For All Other Networks: 0x4a183b7ED67B9E14b3f45Abfb2Cf44ed22c29E54
We created this multisig structure to ensure collected fees remain safe and secure until we come up with a way to involve the community in managing Zerion’s future.
While adding fees as an important step for us, Zerion Genesis NFT holders will be able to trade freely as a ‘thank you’ for being with us from the beginning. If you did not have a chance to claim a Genesis NFT last July, you can find them on Opensea and Rarible.
This announcement is really an intention for a future at Zerion led by our community. We can’t wait to see what happens when treasury decisions are made directly by you.
As always, thanks for your support. We couldn’t build Zerion without you!
