Dynamic Fee Mechanism for Moonbeam's networks
This is a proposal to overhaul Moonbeam’s fee mechanism to adopt an algorithmic, congestion-based fee multiplier in the same spirit as EIP-1559. Instead of adopting the exact EIP-1559 algorithm, we use pallet-transaction-payment’s algorithm and translate it to an equivalent EIP-1559 base-fee for Ethereum transactions while carefully tuning the algorithm’s parameters to ensure that it remains feasible for all meaningful transactions.
A link to the full discussion in the Moonbeam Community Forum can be found below.
How much potential value would this feature bring to Moonbeam/Moonriver?
Off-Chain Vote
A lot!
547.33 GLMR1.9%
Some
343.21 GLMR1.2%
Doesn't seem like a lot
2.11 GLMR0%
Need more information
28.32K GLMR96.9%
Timeline
Dec 08, 2022Proposal created
Dec 08, 2022Proposal vote started
Dec 15, 2022Proposal vote ended
Oct 26, 2023Proposal updated