Arca proposes the Blur transaction fee switch for buybacks and destruction of BLUR.

BlockBeats reported on October 13th that investment firm Arca has proposed a discussion on the Blur fee switch, which would add a 1% basic transaction fee to the Blur market protocol. The proposal suggests using these fees for daily systematic repurchase and destruction of BLUR. In addition, Arca has proposed a tiered fee structure that provides fee discounts for users holding BLUR.