Riding the Celo Bus Together - An Urgent Invitation to Safe Dialogue and Real Repair

[kamikazechaser]

Gas costs have 8x in the last 3 weeks based on your charts whether you look at it from a CELO gas usage or USD → CELO purchase for gas use POV. This is not an issue for most non-custodial end users, however, anyone doing any sort of gas sponsorships, airdrops, abstractions for their users has had to adjust their gas budget by 8x in the last 3 weeks.

@marek

The upcoming Jovian hardfork transitions Celo to Optimism’s configurable Minimum Base Fee standard, making it possible to adjust the fee floor programmatically without future hardforks. Following Jovian activation, we propose to begin increasing the minimum base fee:

• Cadence: base fee increases every week for eight to ten weeks
• Execution: Via the Celo Core Co. portion of the Security Council (6/8)
• Approach: Incremental, not a single large adjustment

The guiding principle is simple: increase protocol revenue where there is room to do so, without introducing friction for users. At current fee levels, these adjustments are expected to remain negligible from the user’s perspective.

For a chain where the gas price has roughly stagnated or been less than 25 gwei for the last X years, you can imagine the kind of shock it will introduce if the base gas price doubles every week without explicitly mentioning the incremental steps (25 → 50 → 100 → 200 → 400?)