Proposal: Expand Custom Taker Fee on Stable to Stable Trades on Celo

[glenn]

To be posted to Snapshot September 28th, 2025

TL;DR

Previous proposal have been brought up to the Bancor DAO that set a 0.001% (1/10th of a basis point) fee on stable to stable trades for certain trading pairs.

This proposal is looking to expand on these previous proposals by setting a lower fee on the following:

USDT-USDC
cUSD-USDT
cUSD-USDC
USDGLO-USDT
USDGLO-USDC
USDGLO-cUSD

trading pairs on the Carbon DeFi deployment on Celo.

Overview:

The default taker fee on Carbon DeFi for CELO is 0.2%. This means that anyone taking an order from the protocol has to pay this amount. Previous proposals:

Custom Taker Fee on Stable to Stable Trades

To be posted to Snapshot July 16th, 2023 TL;DR Carbon has a protocol wide fee of 20 BP (basis points). This fee, while appropriate for volatile pairs - is not in line with the market when it comes to stable to stable trades. For reference, Uniswap added a 1 BP fee option (0.01%) - in November 2021 (link) This proposal seeks to take this one step further and introduce a fee of 0.001% on stable to stable trades. This is 1/10th of a single basis point. Summary A new function in the contracts wi…

Proposal: Expand Custom Taker Fee on Stable to Stable Trades

To be posted to Snapshot December 31st, 2023 TL;DR A previous proposal was brought up to the Bancor DAO that set a 0.001% fee on stable to stable trades for certain trading pairs. This proposal is looking to expand that list with other possible combinations of those five (USDC, USDT, DAI, FRAX, LUSD) tokens. Overview: The default taker fee on Carbon is .2% which means that anyone taking an order from the protocol has to pay this amount. A previous proposal: was brought up to the Bancor DAO…

have been brought up to the Bancor DAO to lower this fee to 0.001% on stable to stable trades for certain trading pairs in order to make Carbon DeFi more competitive with stable to stable swaps that are normally lower across all DEXs (e.g. On Uniswap v3/v4, stable to stable trading pairs are typically set to 1 basis point).

This proposal is seeking to expand the custom taker fee to the following six trading pairs on CELO. Specifically, these trading pairs:

USDT-USDC
cUSD-USDT
cUSD-USDC
USDGLO-USDT
USDGLO-USDC
USDGLO-cUSD

that have the following CAs:

USDT (Tether: Gate | Address: 0x48065fbB...887483D5e | CeloScan)

USDC (Circle: USDC Token | Address: 0xcebA9300...A8B32118C | CeloScan)

cUSD (Celo: cUSD Token | Address: 0x765de816...8b8b1282a | CeloScan)

USDGLO (Address: 0x4f604735...3e0225ad3 | CeloScan)

Why these tokens?

USDT: This is the official tether USDT on CELO.

USDC: This is the official Circle USDC on CELO.

cUSD: This is Mento’s USD currency on Celo. Mento is building the largest FX infrastructure, bringing world currencies onchain through its robust multi-currency stablecoin platform.

USDGLO: This is Glo Dollar, a USDC-like stablecoin. It’s got the basics you’d expect from a stablecoin: 100% backed, always 1:1 redeemable, US regulated, monthly independent reserve attestations.

FOR: Update the taker fee to .001% on these six trading pairs on CELO

AGAINST: Take no Action

[ccc]

I like this; it allows us to compete with other markets on the fee front. Lower fees should drive higher volume, ultimately resulting in more stable income for the protocol.

[foxsteven]

This passed and was implemented