The LayerZero community vote on "whether to activate the protocol fee mechanism" failed to pass.
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TL;DR
The LayerZero community vote to activate a protocol fee mechanism failed due to insufficient quorum. A new vote is scheduled in six months, with fees intended to be converted to ZRO and destroyed.
Tags
LayerZeroInteroperabilityDeFi
[LayerZero Community Vote on Activating Protocol Fee Mechanism Fails] Mars Finance reports that the LayerZero community vote on activating the protocol fee mechanism failed because it did not reach the required quorum. The next vote will be held in six months. The proposal included deciding whether to activate the LayerZero protocol fee mechanism, charging a fee on each LayerZero message that would not exceed the verification and execution costs. The collected fees would be converted into ZRO and destroyed.