Thanks for starting this discussion. There is a trade-off here, lower fees for traders in v4 will likely lead to higher volume. But since validators and stakers receive staking rewards from trading fee revenue, although lower fees in v4 would be good for traders, it will bring less revenues for validators and stakers, they could then decide to unstake and the security of v4 will decrease puting the chain at risk. Some advanced mathematical model analysis is required here before taking any action. In the model, several fee levels in v4 would be analysed and the potential outcomes in terms of volume increase in v4, change of revenues for stakers and validators, impact on the bonded ratio and more. Maybe dYdX Trading could do this advanced analysis? Or hire some maths/physics/computing researcher to do this research. I don’t think we should change critical variables based on some forum discussion, this is critical and needs to be backed with serious professional research in my opinion.
Do any of these DEXes have their own blockchain to run the DEX with a set of validators and stakers securing the chain, where the incentive to secure the chain is based on the trading fee revenue?