Stakers of KNC tokens within the DAO should be rewarded for their investment in KyberSwap's ecosystem. At present, getting rewards for voting during epochs, which several times do not contain any votes, is not enough and we want to encourage KNC holders to not only deposit but hold long-term.

As such, I propose a gas rebate program in which stakers of a certain amount are refunded a percentage of gas fees in the form of KNC token. This feature could be tested on Ethereum, and extended to all chains in a separate governance vote.

A sample breakdown of the incentive structure

Staking of 100 KNC allows users to get a 25% gas refund;

Staking of 1,000 KNC allows users to get a 50% gas refund;

Staking of 10,000 1INCH allows users to get a 75% gas refund;

Staking of 100,000 1INCH allows users to get a 95% gas refund.

Other considerations:

-Only transactions made through the KyberSwap Dapp (web or mobile iOS/Android) are eligible for the rebate. Any use of automated swap tools would be prohibited.

-Rebates would easily be paid out bi-weekly, manually claimed through a button.

-The DAO is encouraged to weigh in more on potential modifications to (a) both the rebate breakdown suggested above; and (2) the frequency of rebate rewards.

-I would propose an initial pilot program not to exceed 180 days where the DAO can evaluate its effectiveness and vote for a further extension, modification, or termination.

-Gas Rebate program would begin on Ethereum, possibly to be extended to other chains based on future votes.

Benefits:

-Frequent traders on Ethereum will be incentivized to not only buy, but hold, KNC.

-KNC holders will have other benefits besides voting.

-Rewards our most loyal DAO members on a dynamic scale.

Please feel free to contact me on Discord with next steps, such as if you would like to work with me on a governance vote for this. (Tommi#9145)