Proposed Gas Fee Optimization

Dear BTCST Community,

We are aware that some of you are facing “unpredictable gas limit” issues or high gas fees when attempting to unstake or claim BTC rewards. After investigation, we are able to confirm that these issues occur when a user has too many staking transactions.

As an example, if a user stakes 10 times on day 1, then keeps staking for 10 days, a total of 100 computational steps must be performed when unstaking or claiming BTC. This would cause very high fees, or, in extreme cases, “unpredictable gas limit” errors.

To solve this, our engineers will upgrade our dApp to optimize gas fee. We expect significant reduction in gas fee for the most extreme causes.

Key points about the proposed upgrade (this is for you, as our community, to vote on):

  • From February 9, 2021 at 9:00 pm to February 10, 2021 at 2:00 pm (both UTC+8), our dApp will be put into upgrade mode.
  • During this time, your BTCSTs and BTCs are safe. They remain in the smart contract.
  • No staking, unstaking, or claiming can be performed during this time.
  • Rewards for this day will be delayed and distributed on February 11, 2021.
  • When the upgrade is complete, you may return to the dApp and see that fees will be significantly reduced.

Details of STP 3 are below. Head over to our governance site to vote now!

STP 3 -- Gas Fee Optimization UpgradePurpose:    To optimize gas fee calculation in our mining dApp.Details:    From February 9, 2021 at 9:00 pm to February 10, 2021 at 2:00 pm (UTC+8), our dApp will be put into upgrade mode.    No staking, unstaking, or claiming can be performed during this time.    Rewards for this day will be delayed and distributed on February 11, 2021.    When the upgrade is complete, you may return to the dApp and see that fees have been significantly reduced.
Why:
Some of our users who stake many times are facing “unpredictable gas limit” issues or high gas fees. This upgrade is proposed to address these issues.Options: A. Pass
B. Deny

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store