Base

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1/ TL;DR of higher fees on @base.base.eth (+ 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

2/ to address, we are:

1. prepping to raise @base.base.eth'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

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

Some txs looked like L1 for a little bit there. Gud to see the team is already on it. Onwards and upwards 🔵

Banks are not happy to hear 😂😂😂😂 I like!!!