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docs(cip-6): update MinimumGasPrice default #145

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May 3, 2024
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docs(cip-6): update MinimumGasPrice default #145

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18 changes: 14 additions & 4 deletions cips/cip-6.md
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Original file line number Diff line number Diff line change
@@ -1,7 +1,7 @@
---
cip: 6
title: Mininum gas price enforcement
description: Enforce payment of the gas for a transaction based on a governance modifiable global minimum gas price
description: Enforce payment of the gas for a transaction based on a governance modifiable global minimum gas price
author: Callum Waters (@cmwaters)
discussions-to: https://forum.celestia.org/t/cip-006-price-enforcement/1351
status: Review
Expand All @@ -14,9 +14,9 @@ created: 2023-11-30

Implement a global, consensus-enforced minimum gas price on all transactions. Ensure that all transactions can be decoded and have a valid signer with sufficient balance to cover the cost of the gas allocated in the transaction. The minimum gas price can be modified via on-chain governance.

| Parameter | Default | Summary | Changeable via Governance |
|---------------|---------|------------------------------------------------------------------------------------------------------------------------|---------------------------|
| minfee.MinimumGasPrice | 0.002utia | Globally set minimum price per unit of gas | True |
| Parameter | Default | Summary | Changeable via Governance |
|------------------------|---------------|--------------------------------------------|---------------------------|
| minfee.MinimumGasPrice | 0.000001 utia | Globally set minimum price per unit of gas | True |

## Motivation

Expand Down Expand Up @@ -53,6 +53,16 @@ There are two other reasons:

Lastly, this change removes the possible incongruity that would form when it comes to gossiping transactions when consensus nodes use different minimum gas prices.

The minimum gas price defaults to a neglible value (`0.000001`) because this is the minimum gas price that would result in a tx priority >= 1 given the current tx prioritization implementation.

$gasPrice = fee / gas$

$priority = fee * priorityScalingFactor / gas$

$priority = gasPrice * priorityScalingFactor$

Note priorityScalingFactor is currently `1,000,000`.

## Backwards Compatibility

This requires a modification to the block validity rules and thus breaks the state machine. It will need to be introduced in a major release.
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