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Fix formatting and add clarifications (#501)
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Co-authored-by: 0xGoldo <[email protected]>
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martinvol and 0xGoldo authored Nov 7, 2024
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27 changes: 14 additions & 13 deletions CGPs/cgp-0145.md
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Expand Up @@ -23,21 +23,20 @@ Please note:

### Rationale

This proposal builds on the rationale of [CGP 66](TBD), where the effort was to keep gas cost for cUSD at $0.01 for a transfer paid for cUSD itself. Since then, it's been made possible to pay gas with USDC and USDT and the total cost for a tx has reduced considerably. These are gas costs of transfers of those tokens on mainnet at the time of writing:
This proposal builds on the rationale of [^1][CGP 66](https://github.com/celo-org/governance/blob/277ae3cb52e8bbb0e7f74c819b9b09f738f4bbd0/CGPs/cgp-0066.md), where the effort was to keep gas cost for cUSD at $0.01 for a transfer paid for cUSD itself. Since then, it's been made possible to pay gas with USDC and USDT and the total cost for a tx has reduced considerably. These are gas costs of transfers of those tokens on mainnet at the time of writing (with CELO priced at approximately $0.43):

cUSD
Example tx hash: 0x485e1aaab931ff206dbdd3994ae76a2e0f890f6d91ddf1405c76549b41ca32e3
Cost: 0.000237143493845625 cUSD
USDC:
Example tx hash: 0x45b84acb1f440509b85d8ab942e489c28427751a3cf55f558a6bf8f7df8aeea2
Cost: 0.000240841172077479
USDT:
Example tx hash:
0x2310021513441c5ba42b028f907732510143d9e3e23d03719830a4b5cbd8d32d
Cost: 0.000237139846444008
1. cUSD
* Example tx hash: [0x485e1aaab931ff206dbdd3994ae76a2e0f890f6d91ddf1405c76549b41ca32e3](https://celoscan.io/tx/0x485e1aaab931ff206dbdd3994ae76a2e0f890f6d91ddf1405c76549b41ca32e3)
* Cost: 0.000237143493845625 cUSD
2. USDC:
* Example tx hash: [0x45b84acb1f440509b85d8ab942e489c28427751a3cf55f558a6bf8f7df8aeea2](https://celoscan.io/tx/0x45b84acb1f440509b85d8ab942e489c28427751a3cf55f558a6bf8f7df8aeea2)
* Cost: 0.000240841172077479
3. USDT:
* Example tx hash: [0x2310021513441c5ba42b028f907732510143d9e3e23d03719830a4b5cbd8d32d](https://celoscan.io/tx/0x2310021513441c5ba42b028f907732510143d9e3e23d03719830a4b5cbd8d32d)
* Cost: 0.000237139846444008


After this change is implemented, the most expensive stable asset transfer will cost $0.00120420586.
After this change is implemented, the most expensive stable asset transfer will cost approximately $0.00120420586.

Please note that these numbers are illustrative, smart contracts are complex and how much gas a transfer takes may vary depending on many factors. The actual cost of gas is also volatile, affected also by the value of CELO and network usage.

Expand Down Expand Up @@ -67,6 +66,8 @@ The proposed number should be 5x higher than the current gas price.

## Useful Links

* Forum Post
* Forum Post for previous gas price minimum modification https://forum.celo.org/t/increase-of-minimum-gas-fee/4616
* Celo Docs: Gas Pricing https://docs.celo.org/protocol/transaction/gas-pricing

## Footnotes
[^1]: The referenced CGP 66 has now been overwritten in the [Governance Repo](https://github.com/celo-org/governance/) and thus the link points to the latest available version. This prevents Celo Mondo from displaying the on-chain record. Legacy [Stake ID](https://celo.stake.id/#/proposal/83) tool does show the on-chain record, but the content it shows is from the overwritten proposal, not the original.

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