Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

Sign up for GitHub

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Fix formatting and add clarifications #501

Merged
merged 2 commits into from
Nov 7, 2024
Merged

Fix formatting and add clarifications #501

Changes from all commits
Commits
Show all changes
2 commits
Select commit Hold shift + click to select a range
8491902
Fix formatting and add clarifications
martinvol Nov 7, 2024
2588df7
Merge branch 'main' into martinvol-patch-9
0xGoldo Nov 7, 2024
File filter

Filter by extension

Filter by extension
Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
27 changes: 14 additions & 13 deletions CGPs/cgp-0145.md
View file
Open in desktop
Original file line number Diff line number Diff line change
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.
Loading