Should DXdao take a position on EIP 1559?

EIP 1559 is a proposed change to the Ethereum gas fee market, that is now slated to be included in the London hard fork this July. It would remove the fee auction model and have the gas price linked to the previous block, as well as switching to a tipping model and burning the basefee.

In general, miners are against this proposal, although some have signaled support. Dapps and DeFi products, however, are largely in support:


Check out the full list.

I wanted to kick start the discussion on whether or not DXdao should signal its position (for or against) on EIP 1559? Ethereum’s security is DXdao’s security, so I think we should be engaged on how protocol changes may affect that, but of course, DXdao does not often speak in ‘one voice’.

MakerDAO had an interesting discussion in its forums, before ultimately voting (on-chain) to signal their support.

Thoughts?

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It makes sense to me that DXdao should be engaged with the governance of the platform on which it operates. Personally, I would be in favor of signaling support for EIP 1559.

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I listened to a couple forum discussions addressing some node miners’ security concerns, which i didn’t find very persuasive. That being said, if anyone in the DXdao community with a technical background wants to add anything on why security is a legitimate concern, I’d be interested in those opinions. Thanks :slight_smile:

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Are we talking about the security of Ethereum that is provide by the miners?

i would vote to support.

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Given the current state of the system, implementing EIP-1559 will be great for everyone, both users and miners. Those expressing security concerns are just cherry picking, as what we have at the moment is worse. Plus, they stand to make more money with EIP-1559, so in the end they are actually still in favor of EIP-1559. And it will just get better later on with EIP-3368.

This proposal has been submitted on xDXdao base on xDai and has just been boosted. REP holders can vote on the proposal for the next 6 days.

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This proposal passed on DXdao xDai base with 25.23% of REP holders in favor of signalling DXdao’s support for EIP 1559 implementation with 0% against

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