Hey @CLL_Michael, thanks for the thorough writeout, but it still doesn’t explain your insane ask here.
Let me break it down for you as i’ve taken a little bit of my time to create a dune dashboard that shows costs on a similar network, like FTM.
https://dune.com/0xvivi/chainlink-transaction-count-and-gas-costs-on-fantom
I’ve taken samples in FTM (the native asset, which in our case would be CELO) ran at a 0.1% deviation, ETH also at 0.1% deviation, a random altcoin in LINK ran at 0.5% deviation and a forex feed with CHF at 0.3% deviation. The first row shows all price feeds on Fantom.
With 0.1% on FTM and ETH, we have 2 outliers that do the bulk of the transactions but they get evened out by the relatively modest updates by other feeds like the forex ones or even altcoins.
Overall a typical update to a pricefeed consumes 200,000 gas and FTM averages somewhere at 40-50 gwei. Overall you have roughly 28 price feeds available on fantom and you’re averaging roughly something in the ballpark of 100k transactions per month in the last 6 months.
If we consider these variables in the last 6 months (~October2022), we’re looking at the following costs for you:
| month | cost in ftm | cost in usd |
|---|---|---|
| Oct-22 | 4180 | 901 |
| Nov-22 | 54377 | 10980 |
| Dec-22 | 12390 | 2926 |
| Jan-23 | 5140 | 1926 |
| Feb-23 | 4758 | 2533 |
| Mar-23 | 11986 | 4569 |
The November numbers even include catastrophic industry wide black swan events and and insanely volatile month this march. Despite that you averaged 15471 FTM per month or 3972.5 USD in the past 6 months.(the USD number is FTM converted to USD at the time of transaction)
Now, lets’s consider the fact that we’re not Fantom and that our average gwei (despite the increase in minimum gas fees here) comes in at roughly half of that. The EVM equivalence means we’d also consume roughly the same gas per transaction as Fantom or any other EVM chain (~200,000).
This means that the same consumption above would have translated into the following numbers in CELO:
| month | cost in celo |
|---|---|
| Oct-22 | 2090 |
| Nov-22 | 27188 |
| Dec-22 | 6195 |
| Jan-23 | 2570 |
| Feb-23 | 2379 |
| Mar-23 | 5993 |
Or an average of 7735 CELO per month.
You’re asking for 166119 per month.
Now i understand that there are development costs and that running this service obviously needs to be a profitable business otherwise the node operators wouldn’t jump on this. What’s profitable enough though? 2x? 3x? even 5x? I’d get all of that, but you’re asking for a whooping 21.5x of what it actually costs you to operate this from a gas perspective. (i don’t even want to get into the part what this would mean in USD terms when crypto prices are trending up again)
I want to underline again that i understand that there are development costs, that node operators need to be profitable and that there are other costs like running infrastructure (RPCs etc), but i can only repeat what i said above. This proposal seems disingenuous.