I think we’re mixing issues. 100% agree on check frequency going to maybe 10mins instead of 15.
The concern right now is that 100 Gwei limit is too low, causing ovens to not bake frequently enough.
The options are:
- raise the limit to a new number ad-hoc
- raise the limit algorithmically
- have an oven overload trigger (e.g. 50ETH).
(1) doesn’t solve the bake frequently enough problem because any new number we pick will increase bake frequency until it doesn’t. (We’d be revoting regularly. Not that big a deal tho honestly).
(2) solves the problem by using a moving window approach to ensure that as long as gas costs are not perfectly rising linearly, we have a recent historically relevant limit (I.e. we should see at least weekly bakes with a 7-day moving window if the curves are upside down U shaped)
(3) is my actual preferred approach.
Worrying about 100 Gwei versus 200 Gwei versus 300 Gwei shouldn’t actually matter if the oven sizes are large enough.
10ETH splitting 200 Gwei is annoying; 50 ETH splitting 200 Gwei is virtually nothing compared to 100 Gwei (gas cost doesn’t grow perfectly linearly with volume on the transaction).
Quibbling over Gwei thresholds can actually lose people money in a growing market because they’re holding ETH in the oven instead of holding the index they prefer to hold which might grow above their marginal gas differential + ETH’s growth.
I mildly disagree with picking a new arbitrary gas target (e.g. 115) because revoting every few months is probably not a great use of our time.
But I would vote for 115 Gwei if you make it a separate proposal, so feel free to.
A point I just want to quickly make too. The benefit of the oven is in the shared transaction pooling, not the gas limit. 97% gas reduction from sharing is great. So is 90%, and even 80% lol.
The risk people are taking when they invest in an oven is the risk of holding an asset they don’t prefer over the one they do prefer, so bakes should be happening very very frequently to meet this risk.