Proposal #354
Passed on 09 Nov 2022 with 99.6% of the votes for yes.
Yes
99.6%
99.7% without abstain
Veto
0.0%
of votes cast
Ended
09 Nov 2022
99.65%
of votes cast
0.05%
of votes cast
0.29%
of votes cast
0.02%
of votes cast
Vote YES on this proposal to signal that you support implementation of a minimum gas price of 0.0025 uOSMO on Osmosis at the protocol level.
Vote NO on this proposal to signal that you do not support implementation of a minimum gas price of 0.0025 uOSMO on Osmosis at the protocol level.
Details Currently, Osmosis has no protocol-level minimum gas price. The reasoning for this is that the vast majority of OSMO liquidity is on Osmosis, making it difficult for new users to acquire elsewhere to carry out their first transaction. Allowing Osmosis users to submit transactions with a transaction fee of 0 has made it extremely easy for new users to onboard into Osmosis by enabling them to transact on Osmosis for the first time without having the native gas token.
At the same time, however, setting a minimum gas price of 0 leaves Osmosis vulnerable to denial of service attacks executed via the spamming of free transactions on the network. While thankfully Osmosis has not experienced a major DoS or DDoS event to date, incidences of recurring transaction spam have been increasing.
With a recent upgrade, Keplr now offers Osmosis users the ability to pay transaction fees on Osmosis in non-OSMO assets (for example, gas can now be paid in ATOM). While the ability to do this has existed on the Osmosis chain for quite some time, this wallet upgrade has opened the door to a large number of onboarding routes into Osmosis for all users on the main front-end for the very first time. Similarly, Osmosis’s Binance listing has made it much easier for new users to purchase OSMO off-chain to use as a transaction fee if necessary.
As such, the time is ripe to implement a minimum transaction fee on Osmosis. The purpose of this proposal is to signal to Osmosis Labs and other key Osmosis development contributors that governance mandates a minimum gas price of 0.0025 uOSMO be implemented at the protocol level. There is currently no governance adjustable parameter to implement this fee, so this proposal will be implemented in a subsequent software upgrade.
Further, to the extent that fees need to be priced via the Transaction Fee Module in another asset, the transaction fee module should be amended to utilize Osmosis Time Weighted Average Pricing over at least a 24 hour period instead of the currently utilized spot pricing to ensure that validators are fairly compensated no matter which asset is used for fees
Full discussion on this proposal can be found here: [Hidden link]