Cypress Gas Price Adjustment Announcement

For the last several months, the Klaytn team and the community have come a long way in identifying the spam transaction issue, applying technical mitigation measures, and building a consensus through surveys and AMAs.

Based on the support from our community, the Klaytn team is happy to announce the gas price adjustment plan including the adjusted gas price, gas fee burn policy, schedule, and notice for the dApp developers as shown below.

Adjusted gas price

  • 750 ston

Gas fee burn policy (short-term)

  • The net difference (750 ston — 25 ston = 725 ston) will be burned by getting sent to the burn address 0xdead.
  • Burned gas fees will be publicly announced via Medium on a regular basis

*The short-term policy remains in place until a new gas fee burn mechanism is introduced.

Schedule

  • April 3rd (block number 87091200)
  • To ensure the stable gas price adjustment, the Cypress update will be done after the launch of Klaytn v.1.8.0.
  • The exact time can vary depending on the network status. We will notice the exact time through our social media (twitter, discord, telegram, etc.)

Notice for DApp developers

  • DApps should be modified to set the gas price to 750 ston instead of 25 ston or use the return value of “klay_gasPrice” API. Otherwise, the transaction cannot be submitted to the network. An error may occur if the source code includes a hard-coded logic related to the gas price.
  • The transaction pool will be flushed when the gas price change is effective on a node.

If you have any questions, please contact the Klaytn team through our Discord or Klaytn Forum

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© Klaytn Foundation 2022. All rights reserved.
© Klaytn Foundation 2022. All rights reserved.