changed 4 years ago  
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EIP1559 for Polygon PoS

Current Stats

Total Supply: 10B $MATIC
Block Space: Almost full most of the time
Gas Limit: 20M

Burn

Effects of burning basefee:

StakeHolder Pros Cons
Token Holders 1. Reduction in supply of $MATIC
DApp Users 1. Predictable gas price 1. Reduced supply of $MATIC
2. Gas fee curve similar to Ethereum
DApp Developers 1. Ethereum Tooling will work seamlessly 1. Same as Ethereum
Validators 1. Reduction in supply of $MATIC
2. Reduction in spam txns		 1. Reduction in tx fee revenue
2. Additional pressure on infra due to increased block size during peak times
Delegators 1. Reduction in supply of $MATIC 1. Validators might increase commission to compensate for tx fee revenue loss

Simulations

Methodology:

  • Start with baseFee=1 gwei. Iterate over blocks.
  • Check gasPrice is enough to pay baseFee or not. Drop transactions if not enough fee. Based on included txns, form a simulated block and and compute next block baseFee accordingly. (Note: We ignore priority fee aka the tip)
  • GasLimit=20M, GasTarget=10M

50 Blocks:

1000 Blocks:

10000 Blocks:

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