Merge pull request #145 from rootulp/rp/minfee

docs(cip-6): update MinimumGasPrice default
celestiaorg · May 3, 2024 · 8567efb · 8567efb
2 parents ab44db0 + 775111d
commit 8567efb
Showing 1 changed file with 14 additions and 4 deletions.
diff --git a/cips/cip-6.md b/cips/cip-6.md
@@ -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
@@ -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
 
@@ -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.