Hey everybody! I'd like to share some interesting proposals I discovered on mStable forum regarding gas cost reductions. Clearly this is a big problem in the space and I'm curious to see how projects will attempt to deal with that. Two proposals from mStable: batching and cache implementation to reduce frequency of interactions with the lending pools .
Any thoughts about these solutions and possible alternative ways?
The batching proposal is clear for me but I couldn't get my head around the cache. And I assume most of the voters don't either. Everyone votes because it sounds like an improvement.
I'd love to see a visual representation in form of sequence diagram to understand every single step.
No idea man but something’s gotta give. Since 2020 began gas fees went up 7,000%😱😱😱 As if 2020 wasn’t bad enough already...
Honestly, I don't think there is a way to truly get away from Gas 100%. Even NEAR has transaction fees, even though they claim to be 10,000x cheaper than Ethereum. There's still a fee.
Moving from L1 to L2 involves Gas, as does coming back to L1 if needed. "Moving" a token from one chain to another also has a Tx fee. It's how the network is paid for and incentivized.
I think the goal across the board is to make them cheaper and more flexible so they can be paid with other tokens, since you can't do away with them entirely.
Thanks for sharing this, Andy. This is a hot topic for sure and judging by Snapshot it looks like your community is very much up for this option.
What's the timeline for implementation? Or in other words: when will we all see if the cache works?;-)