The Evolution of Bridge Fees in Wanchain

Bridges play a crucial role in connecting various blockchain networks, and Wanchain stands out as a leading cross-chain bridge protocol. The latest update from Wanchain introduces new bridge fees, aiming to enhance security and add value to its ecosystem.

New Bridge Fees

Wanchain's new bridge fee structure marks a significant shift in its operations. While traditional fees only covered gas on the source chain, the introduction of service and network fees will enable Wanchain to bolster its security measures and strengthen its network.

The service fee, a nominal charge for gas on the destination chain, ensures comprehensive coverage for all transaction aspects. Additionally, the network fee, set at a low base rate of 0.2% per transaction volume, provides a competitive yet secure environment against spam attacks.

Benefits to $WAN Holders

These new bridge fees bring direct benefits to Wanchain's native token holders. A portion of the service fee automatically converts to $WAN, distributing rewards to Storeman Bridge Nodes and Proof of Stake Nodes. Furthermore, 40% of the fee contributes to the Community Treasury for various incentives, while 30% fuels development efforts for continuous bridge improvements.

Wanchain's Burn Program

A notable initiative accompanying the fee structure is Wanchain's burn program for $WAN. With 10% of the service fee converting to $WAN for burning, the program aims to reduce the token supply over time, enhancing its value for existing holders.

Discounted Bridge Fees and Rationale

Beyond the burn program, $WAN holders with a specified threshold enjoy tiered discounts on bridge fees, fostering community engagement and rewarding loyal participants. The introduction of these fees aligns with Wanchain's core principles of improving security, rewarding holders, and showcasing its token's investment potential.

In conclusion, Wanchain's strategic approach to bridge fees not only fortifies its network but also offers tangible benefits to its community. The linkage of bridge fees to token economics underscores Wanchain's commitment to sustainable growth and security in the evolving blockchain landscape.