Base

1/ TL;DR of higher fees on @base (+ what we're doing):

- we shipped 4844 and reduced L1 DA costs to ~0
- lower fees induced >5x more demand
- our gas target is relatively low (~2.5 mgas/s)
- so blocks are above target -> fees are rising

lower fees is our P0, and we are on it

@base builder #001; onchain cities w/ OAK & city3

3/ with this work, we're going to be able to both drive down fees again in the short term AND ensure we can keep them down in the long term

we know high fees suck — and getting them lower is our top priority. thank you for bearing with us as we keep scaling this thing.

this is a good thread from @bayardo on the current state of @base fees and path forward. he's nuanced and measured, as i'd expect our core protocol leader to be. 

i want to share a less nuanced perspective:

1. we need to scale the @base EVM >1000x
2. we need to do this with urgency
3. the time to start is right now

4/ if you want to read more about how we're thinking about scaling, check out thoughts from me and @roberto_bayardo below.

we'd love any and all thoughts or feedback from you. onwards!

4/ if you want to read more about how we're thinking about scaling, check out thoughts from me and @roberto_bayardo below.

we'd love any and all thoughts or feedback from you. onwards!

https://warpcast.com/jessepollak/0x4ef54d3f

2/ to address, we are:

1. prepping to raise @base's gas target to 5-7.5 mgas/s (~2-3x) by load testing to understand impact
2. parallel pathing work that will let us achieve our medium term goal of 1 Ggas/s (~400x)

expect an update from us shortly on timelines

good problem to have overall and thank you for mobilizing to reduce 🔵🫡

Will those fees be passed along in bridging off as well? That feels like the highest barrier candidly between cross chain liquidity.

Even with fees going up, they still tend to be lower than they were. It all points to record breaking engagement, can't be too upset about that. 

#BlobsDoSomething should be a tongue in cheek bullish sentiment. 🤝🔵

Thanks for the clarification and path forward! I honestly wouldn't have noticed the increase... if it wasn't for the week of just stupidly cheap txs right before the current costs 😆

Monday things. Get some coffee going ☕ !

In a way it's not as bad as it seems. Pre-4844 the higher cost was due to high L1 data fees. Now, it's usage and even moreso priority fees. So, rather than being forced into higher fees, users are opting to pay them to transact here. Lower fees def good, but don't discount the progress!

Less than sec and less then a cent is based.

Your constant drive to improve base is making me feel even more bullish on base