Amending Soteria Membership Fee

Potential Protocol Changes
#1

About Soteria Membership Fee Adjustment

To become a Soteria member, you need to pay a membership fee of 0.1 BNB. According to the current price of BNB, it is about $60. At the time Soteria launched the 0.1 BNB was less that $10, how quickly things change in crypto :grin:

Now we want to increase the number of members and get more people interested in insurance to join Soteria by lowering the price of the membership fee. We believe the current fee is rather prohibitive.

What fee do you think is appropriate?

A.0.05BNB
B.0.02BNB
C.0.01BNB

2 Likes
#2

I prefer the lowest one, option C, 0.01BNB.

1 Like
#3

I would say 0.02 bnb is fair, more or less like it was at the start of the project

2 Likes
#4

0.02 BNB for me, I believe it is more fair too

1 Like
#5

I’d say (B) 0.02 would be fair.

1 Like
#6

I think it is just 0.02, I paid 0.01 and I hope that the renovation will be at least 0.02, it will be great, considering the current value of the bnb.

1 Like
#7

0.01 maybe be good, just avoid bot to attack

1 Like
#8

I believe 0.05BNB (~26$) is still fair.

1 Like
#9

Hi, as a new user, just trying to find out what the cost of insurance will be, before even using the service, I think it should be as low as possible. It should be possible to get insurance prices without membership, but need membership if you want to actually use the service. That would more sense if you want to grow the user-base.

#10

From a new user point of view, there’s just no way I’m paying $60, just to find out the insurance is too expensive for me anyway. $5 maybe, $10 maybe, $25 too expensive for potentially nothing, if the insurance products don’t suit me and I’ll just stomp off with a bad feeling towards the project.

#11

you are asking people to pay up-front for a service, they have no way of finding out, what the cost of the service is. Its kinda bizarre, I don’t get the logic, but I’m new here :slight_smile:

#12

Currently most of project cost 3.6% yearly cost to buy cover. Some new projects cost much higher, since few people stake on these projects.
However, team are implementing a feature to show the cost and capability before a person become a member.