Reduce the gas fees incurred by the community by bridging funds to polygon prior to sending them to grant recipients and committee members.
Abstract
There is a reason Decentraland pivoted from mainnet to Polygon, and it only makes sense to transition the majority of financial activity from mainnet to Polygon to reduce the cost of doing business.
Motivation
If you’ve ever been paid $100 in an ETH stable for work you did for a grant recipient, you know exactly how frustrating it is to find out it will cost $36 in gas to be able to swap those funds into another token.
Specification
The DAO already converts Mana to stable coins before sending to grantees. Now they will simply bridge them to Polygon prior to sending them to the community.
Conclusion
This will really help the community better execute and work within their project budgets.
Polygon doesn’t have enough liquidity to convert MANA to stablecoin to conduct day-to-day activity.
We are also not doing much low value transfer, and much of our transfers are batched. We also don’t do much txs at the peak of gas price.
Payments to curators could be moved to Polygon is they are ok, same for DAO Committee, we might do it in the future.
Grants paid in MANA can be done on polygon too, but for grants in DAI it would not really be doing.
We also cannot swap before bridging because Polygon bridge only bridge from one address to that same address on the other chain and our multisig have different addresses, it would force use to transfer a very large amount of DAI to a single person owned address to transfer to Polygon then sent it back to the multisig.
Good idea and appreciate the effort to solve the issue, but going to abstain because of what HP said. I feel like what can reasonably moved over should be, but it makes sense why it can’t all be done.
The Ethereum Cancun upgrade, which is expected to happen in Q1 of 2024 , will increase the scalability, security, and efficiency of the Ethereum network, optimizing operation and reducing gas fees through a process known as proto-danksharding
First lets see how much it will improve network with overloading and high gwei
But also, if switching to other Etherum compatible layers, then it would be optimal to colaborate with OPTIMISM and move liquidity from Polygon to Optimism with a marketplace as well and you still pay gas ETH. But much lower then on Polygon. And after use Layer 3 OPTIMISM superchain having Ethereum security and speed like a web2 apps with almost 0 fees for a marketplace
