the DAO owned CA ( potentially an 8/8 multisig, 2 from Labs, 2 from IMC, 2 from GMC, 2 from DAO) grants access to Ronin’s canonical bridge Chainlink’s CCIP for wrapping/unwrapping rETH
Thanks for the concrete suggestion. I think we do need to balance security with not getting rekt because someone lost a key. One possibility is making it a multisig of multisigs like 3/3 (IMC, GMC, Labs aka dev team) or even 3/4 with those same folks and security council once we make one of those.
Regarding fees, we’re discussing a tiered structure with multiple bridges […] However, Chainlink can only implement a flat fee structure at this time, with a proposed flat fee of $5
I added both of these and a ten bps across the board structure to https://dune.com/queries/4755318. I got $790 for flat $5, 5.5 ETH for flat 10bps, and 1.6 ETH for tiered bps (I approximated your tiers using $3k ETH to avoid the complexity of grabbing market prices etc). Annualizing that, we get $2000, 14 ETH, and 4 ETH respectively. Again – this is Arbitrum, and a specific time frame, so I’d guess this to be somewhat higher than most L2s in most time periods.
Honestly, I don’t think this amount is a big direct needlemover. That said, I do still think it’s interesting because (a) it’s exogenous yield – that’s pretty cool, and (b) it normalizes the idea of charging for things. Essentially, I think (b) is a worthy discussion, and this is a pretty low-stakes entry point to it. Also… there’s an interesting perspective available… the IMC spends ~20ETH per year on arbitrum incentives. So maybe it can be seen as more of a needlemover if we, eg, use it for the L2 it’s servicing.