@CryptoMitch4 has an idea for a per launch proposal about

USDL. It wouldn’t be too hard to implement. You want to tell em?

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@CryptoMitch4 spill the beans sir!

Yo! Morning Fam! My PROPOSAL to Team, GB's and Community is simple... Currently: Network Transaction Fees are set at .01 USDL. That's 100 tx per USDL token. Proposal: Network Transaction Fee be increased to .10 USDL. That's 10 tx per USDL. This increase in gas fee can be temporary 6-12 months. to allow us time to launch dApps, Games, Casino's, Metaverses, DeFi etc... these initial dApp transactions will burn more USDL and rapidly get USDL pegged to or near $1 USD. That is ultimately the goal right? 1USDL = $1 US Dollar. We can vote to do this 6 months or 12 months at .1 usdl per tx and after the timer expires, code automatically switches to .01 usdl per transaction. @JustinKKW ran with the idea and mentioned a possible algorithm that switched back and forth depending on oracle spot price data. example: upon hitting $1:1 we switch to .01 tx fee. If USDL price drops below $0.80, algo kicks in and tx fee increases to .10 until value reaches $1 again. this is just an example to start the conversation and gauge support of community. If there is support of the pre launch proposal then we have GBs vote on it. (or community support wins prior to launch and GBs having the decentralized authority! Kinda a last centralized decision that's community decided so really it's decentralized 😁 Hope to gather discussion and support regarding transaction fees and a mechanism to support the stable usd value of our gas token. Cheers Fam!

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I mentioned this idea about a yeahr ago im a 100% behind this proposal

Fuck it put it at 100usdl per transaction and pamp it Great idea @CryptoMitch4

This is for mainnet, right? If that's indeed the case, how close are we for the mainnet to go live?

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You hear the DEV, budgeting doesn’t matter, pump the fees and LFG

There is a potential problem at that level as opposed to the one proposed . Big holders won’t want to burn through just to support smaller holders who may sit in the fence and be put off using the USDL.

The algo sounds awesome! Let’s go!

Ah for sure there is always 2 sides of the medal , I was just supporting the idea to put usdl the peg . Nothing more 🙏

Then we’re a million percent agreed!!

Love that idea, I'm all for it,

I'm not technically savvy enough to comment on the logistics of making this work and cryptography and finanicial benefits that assist the pegging, so can't offer much on that side of things. From a business perspective though, hasn't one of the key selling points of building on LGCY from day one been that you can build your funding model around a stable gas fee? If I'm putting a strategic plan together and budgeting for 3 yrs, then having a stable fee allows a certain level of accuracy. If I'm informed that it could literally fluctuate with the wind at any point with a 90% increase in costs for 100tx, then building on LGCY is no longer as appealing as it once was and it's also no longer consistent with the previous 4 years of advertising it as being a confidence factor (a consistent gas fee). Fluctuating fees on other networks are normal, and 10tx for 1 USDL is still crazy cheap, so it's not like it's unreasonable if you think the benefits require it. You just need to be concious of what else you're sacrificing to do so (i.e a heavily marketed USP) and how you'll have to adjust the marketing messages.

Wich is why its not decidet blind but commuicated openly and if most agree cause they see this as a benefit for long term some that build on lgcy already said they were totally fine with this proposal so its just a matter of if most agree or not wich could most certainly communicated to All Potential builders that are working with lgcy atm

I definitely see your point. and someone building on lgcy for 4 years waiting on the stable gas understands ot's value proposition is 1:$1. that said. this team building would have been crazy not to buy the advertised off loading of usdl for as low as .01-.03. They should have ample reserves now, and this could be used to subsidize their community. Along with the offset of gas being well under 01¢. as the price will take time to stabilize. It's all a balancing act to reach and maintain a 1:$1 peg.

Agree, team just needs to be cognizant of clear and consistent messaging for the relaunch and the need to adjust accordingly before influencers run with old data from previous info/white paper etc.

Decentralization at work.