According to Foresight News, LayerZero Foundation announced that the second protocol fee switch referendum will be launched on June 20, with ZRO holders voting on whether to activate the LayerZero protocol fee mechanism. "Yes" means activating the protocol fee, while "No" means keeping it closed.
If the proposal passes, the protocol will charge a fee for each LayerZero message and use it to buy back and burn ZRO tokens. After adjusting this round of voting, the legal voting threshold is 50.4%, with only 109 million circulating ZRO tokens eligible to vote. Each holder needs to vote with their entire balance on a single chain. The voting deadline is June 27, with the next referendum to be held six months later. The official team has lowered the threshold after the first referendum heavily leaned towards "Yes".
