On November 12th, Split Capital presented a proposal for "BLUR Fee Conversion and the Economics of veBLUR Tokens" at the Blur Governance Forum. The proposal aims to add a framework for increasing protocol fees and re-infusing fees into vote-locked BLUR (veBLUR) tokens. Currently, the Blur NFT market protocol has always implemented a 0% market fee, while enforcing a 0.5% creator royalty. It is proposed to eliminate the enforced creator royalty and increase the protocol fee by 0.5% per transaction. It is also proposed to establish a fee committee that can change the protocol rate to enable quick adjustments based on market conditions and the competition landscape. Split Capital proposes to change the BLUR token economics to use two tokens, BLUR and veBLUR, to manage the utility and governance of Blur, similar to Aerodrome. And proposes to add 1% of the total supply (30 million BLUR) to the current Season 4 as rewards, which will be distributed to Blur users at the end of the season based on their total points. BLveUR is used for governance, BLUR holders will be able to vote to escrow their tokens and exchange veBLUR, and other tokens can be added to veBLUR NFT at any time. The lock-up period (also known as the voting escrow period) can be up to 4 years. The longer the vesting period, the higher the voting power of the underlying locked balance.