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GMXGMXby0x5F799f365Fa8A2B60ac0429C48B153cA5a6f0Cf8xvix.eth

Network Fee Smoothing

Voting ended about 1 year agoSucceeded

Proposal to allow for network fee smoothing, this would work by having higher network fees during times of regular network conditions and using the accumulated fees to subsidise network fees during times of network congestion

Some values for guidelines: when the price of a transaction is less than 0.001 ETH (3-4 USD), the network cost would increase by a range of 0.00004 ETH (~ 0.16 USD) to 0.001 ETH (~3-4 USD) depending on the base cost, when transaction costs are above 0.001 ETH, network subsidies would apply to reduce the network cost for users

This proposal is mainly to allow this mechanism to be trialed, if there is significant negative feedback on the change, then the parameters should be adjusted or the mechanism reverted

Discussion: https://gov.gmx.io/t/network-fee-smoothing/4308

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Discussion

GMXNetwork Fee Smoothing

Timeline

Jan 24, 2025Proposal created
Jan 24, 2025Proposal vote started
Jan 29, 2025Proposal vote ended
Jan 29, 2025Proposal updated