Klaytn Governance Council Survey Report on Gas Price Adjustment

After determining that the several technical measures applied to tackle spam transactions have had limited real impact on the issue of the recent bursty transaction pattern congesting the Klaytn network, the Klaytn Team has come to the conclusion that a gas price adjustment is the best effective countermeasure to tackle network congestion.

As a first step to understand how our communities view the potential gas price adjustment, the Klaytn Team asked the Governance Council’s opinions in a survey outlined as follows:


Survey Outline

Period

Jan 3 2022 — Jan 14 2022 (two weeks)

Questions

  • Should Klaytn Team be more engaged with the network congestion problem caused by bursty transactions mainly from arbitrage trading?
  • If Klaytn Team were to take technical measures and increase the gas price, in which sequence should they be implemented?
  • Which approach should a possible gas price increase take?
  • How much should the gas price be increased?
  • Tell us your opinion about the gas price increase on the Klaytn mainnet. Any suggestions or comments are welcome.

Results

Respondents

13 persons from 12 entities responded (one of the GC entities had two respondents, names listed without any specific order)

Hanwha Systems, FSN, Maekyung Media Group, cocone, The Korea Economic Daily, gumi Cryptos, AhnLab, EVERRICH, NEOPLY, Wemade Tree, GS Retail, Verichains Lab

Answers

Should the Klaytn Team be more engaged with the network congestion problem caused by bursty transactions mainly from arbitrage trading?

  • (92%) Yes, it is one of Klaytn team’s most important roles to normalize the network.
  • (8%) No, congestions are nothing unusual for blockchains. Just let the network self-regulate.

If the Klaytn Team were to take technical measures and increase the gas price, in which sequence should they be implemented?

  • (15%) Implement technical measures and gas price increase at the same time to effectively tackle the problem.
  • (85%) Implement technical measures first, see how they work out, and then increase the gas price to separate the effectiveness of each action.

Which approach should a possible gas price increase take?

  • (42%) Temporary gas price increase. After the problem is resolved, return to the previous price.
  • (58%) Permanent gas price increase. Even after the problem is resolved, keep the new price to prevent similar incidents in the future.

How much should the gas price be increased?

  • (92%) First increase to the threshold (minimum requirement). If not effective, increase further.
  • (8%) Go much higher than the threshold to increase the likelihood of solving the problem.

Tell us your opinion about the gas price increase on the Klaytn mainnet. Any suggestions or comments are welcome.

  • Implement automatic gas price adjustment if similar incidents happen again
  • Implement flexible pricing based on transaction volume
  • Provide gas fee support for services that generate numerous “healthy” traffic
  • Implement deflationary model on overall tokenomics along with gas price adjustment
  • Provide minimum resource for transaction free of charge along with gas price adjustment

In short, GC members expect Klaytn Team’s active engagement for both technical measures and gas price adjustment. In regards to the approach, a permanent adjustment initially up to the threshold level is preferred.

Being aware of the importance of this matter, the Klaytn Team will continue to stay in active communication with our communities before any decision is made.

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