MIP-47: Improve Gas fee collection in phases

  • Description: Transition from a “gas fees are burned” model to paying out of the gas fees to a governed token pool.
  • Authors: Author

Abstract

Currently gas fees are burned. Eventually gas fees should be redirected to a gas pool. This MIP provides a step-by-step guide how to get there.

Motivation

Gas fees should be used to pay for services that are required to operate the chain, provide for grants or other. Therefore, they should be captured in a governed pool.

Specification

In the following a step-by-step guide to transition from the current model to the target step is provided:

  1. The gas token \ is burned

Instruction: Figure out where and how the gas token is burned in the current model.

  1. Redirect gas fees to Movement Labs controlled address

Instruction: Modify the code, such that the gas-fees go an address that is controlled by Movement Labs instead of burning the gas-fees.

  1. Governed gas pool goes live.

Instruction: Get a gas pool that has governance, see MIP-???.

  1. Redirect gas payout address to governed gas pools.

Instruction: Same as step 2, but change the target address.

  1. Movement collected gas fees go to governed gas pools.

At this point the Movement Labs controlled address would have collected some \, which should be handed over to the Government for redistribution. This wraps up the above procedures.

Instruction: Transfer the collected \ on the Movement Labs address into the gas pool.

The key words “MUST”, “MUST NOT”, “REQUIRED”, “SHALL”, “SHALL NOT”, “SHOULD”, “SHOULD NOT”, “RECOMMENDED”, “NOT RECOMMENDED”, “MAY”, and “OPTIONAL” in this document are to be interpreted as described in RFC 2119 and RFC 8174.

Reference Implementation

Verification

Needs discussion.


Errata


Appendix

A1

Nothing important here.