Governance Meeting Notes Mega-Thread

Abstract

  • The Secret Foundation Q3 Transparency Report will be presented December 8th during the governance call at 16h00 UTC on Discord. They will try to get the report out before the meeting, but no guarantees can be made.
  • Now that IBC is live we returned to the topic of gas fees, gas usage has improved with the update but our fees are still higher than other Tendermint chains. Data will be accumulated during the next week to determine what the costs of running relayers are. Systematic solutions won’t be available in the next couple of months so reducing gas fees could mitigate this. If we decrease gas fees we should probably decrease it in steps and not reduce by x20 in one go. An additional aspect is allowing other ibc tokens to pay for gas fees, currently every validator can decide for themselves but perhaps this should be a chain parameter? This is a very delicate subject as it directly impacts tokenomics. It is possible to make the fees in other tokens more expensive than the scrt fees.

Action Points

Full Notes