The Flash Mint Module was activated on July 3rd and still is not seeing any usage. As a personal user of flash loans this comes down to who has the cheapest solution to use as well as cost / benefit of having to change the code to a new source. Currently dYdX has the cheapest flash loans at 0%. Previously I thought there may be an argument for paying our fees because we can guarantee liquidity is always available, but since the original poll dYdX has improved its liquidity from 138k to ~10M+. This is large enough now to cover most use cases.
I suggest we consider removing the fee and do so permanently. As there seems to be no integrations so far we can benefit from removing the logic for the fee altogether if we never plan to use it again and re-deploy. Flash loans are highly gas-sensitive products and so we want to squeeze out as much as possible.
- Better arbitrage for DAI
- Better UX for front-ends, can lever up in one go instead of looping, re-financing, etc
- Potential loss of revenue
- Yes, remove the fee permanently (requires redeploy, new contract address, saves gas)
- Yes, set the fee to 0% (can be raised again later)
- No, leave the fee as-is
Poll will run until Wednesday, August 25th. If successful an on-chain vote will be held to confirm the change followed by an executive with the change.