defi-research

We Fixed 1559! 🎉

A misspecification of EIP-1559’s update parameter is causing increased delays and higher gas fees. In SPEC-04, we suggest slowing down the base fee update parameter to fix this.

Going to say more about this soon but for now... Read the thread!

Game theory, mechanism design, blockchains, DeFi

This makes sense. Great writeup. No wonder those fee spikes happen for even relatively smaller events like an airdrop.

Btw how big of improvement the new approach is over other factorwise?