Just curious if there’s anything under the works to keep the gas fee for transactions in a reasonable range. As the popularity of the platform increases (which is really really good) the usage of the network goes up and so as the gas fee.
Right now it won’t be an issue spending 0.5 ASTR for a transaction but once the value of ASTR goes higher and higher, this is going to be a major issue for us all.
Wondering if anything is being planned or implemented to take care of this.
Let’s all buidl and give ASTAR a great 2024
Hello! Are you talking the gas fees on Native side or EVM side?
A transfer is less than 1 cent, but for a more complex transaction (SWAP) can be a little bit higher
Hi! On the evm side. I checked 2/3 dapps and it’s more than 0.5 ASTR in all places; it’s still not expensive but once Astar price goes up it could be an issue to onboard
Keep in mind that Astar EVM uses the pallet-evm pallet, which is an almost equal implementation of the EVM as we know it, and as you know, transactions in the EVM are more expensive due to its technical limitations (block space, weight and stack structure). Transacting in Astar EVM will always be more expensive than in our Astar Substrate.
Moreover, our Astar zkEVM is coming soon, which solves the problem of EVM transaction costs.
Tokenomic 2.0 has not yet been fully implemented on Astar network.
I invite you to read more about it in our documentation:
The core concept of tokenomic 2.0 is to burn 80% of transaction fees to slow inflation on Astar, but if gas fees are too low, this won’t work because it won’t burn much fees, making the very idea of tokenomic 2.0 inoperative.
Thank you, that’s an amazing info to know
Those parameters are not set in stone and can be changed if the market price rises above a certain level. However you need to take into consideration the supply of the ASTR tokens, I think it is not realistic to expect a crazy high price in the near future.
I really don’t think the supply of ASTR will become an issue to hold back the price of the token. I honestly believe by the end of this year ASTR will surpass the $1 price tag