I’m very pro an issuance/redemption fee, as it also provides the following benefits:
- Volume-based monetization: Similar to WBTC and other asset issuance protocols (which charge 0.2%+ on mint/redeems), this primarily affects market makers (which typically mints/redeems when there is a spread). And agreed w/ @richard that the fee generation potential could be much larger than streaming fees. The previous concern is that entry/exit fees could dissuade the carry trade, but that is less of a worry if we are doing intrinsic productivity.
- Increasing user retention: This improves user retention if net fees are lower and only benefits end users (as most do not mint/redeem themselves).
That said, I think this would be a huge boon to sustainability that doesn’t hurt end users.