Hi! this is Daniel from Mimic. First off, I’d like to apologize if there were any aspects of the proposal that weren’t as clear as they should have been and we moved on with the snapshot. A lot of the time-sensitive requirements arose from our collaborative work with the core team, aimed at fully automating ParaSwap and avoiding human error situations like this.
Our set of requirements grew compared to the initial proposal, and while we didn’t want to increase the fee, it seemed reasonable to raise the future cap given the additional components we now have to manage, monitor, audit and modify going forward. This cap is in line with what we have with other clients using the same solution.
For the past five months, our systems have been operating, during which we’ve incurred substantial deployment costs and have yet to collect any fees. If we charged the 2% fee last month, it would amount to roughly $2500 per month. Maintaining the automation involves several components that need constant monitoring, updating, and tweaking as necessary, along with the integration of new networks as they emerge.
I hope this provides some clarity regarding the cap issue. We firmly believe in the importance of a long-term partnership for both parties and will strive to be as transparent as possible. If there’s been any confusion, I apologize for any lack of clarity on our part.