We’re excited to share progress for a critical milestone on the path to permissionless deployment. Variable Transaction Fees are now supported on the Flow network following the April spork. Variable fees enable the community to incentivize desired behaviors that keep Flow healthy while maintaining lower fees for common transactions.
With this feature available on Mainnet, it marks the beginning of the first ever Flow community vote to enable the new transaction fees! Enabling the new transaction fee calculations will help to better secure the network when permissionless deployment comes this summer. When Variable Transaction Fees are enabled, most transactions will become cheaper or stay in the same range as today
Check out the proposal on CAST, the new governance decision-making device from Dapper Collectives. It’s an off-chain voting tool for DAOs and other types of decentralized communities to use whenever making decisions together about what matters to their organization and its governance — democratically and transparently.
Anyone wanting to participate in this vote MUST have staked or delegated their FLOW as of the April 4, 2022 4pm PST / April 5, 2022 1am CET snapshot to be considered eligible.
When to Vote
Voting on the proposal is live now and ends on April 29, 2022 at 12pm PT / 9pm CET, and will be a binary choice between:
Accept: Begin collecting fees as described in the proposal
Reject: Transaction fee collection will remain the same
After voting started on April 8, a bug was identified where voters’ unstaked FLOW is being tallied along with staked or delegated FLOW, and their total FLOW balance is shown on the voting summary.
Since eligibility to vote was based on staked or delegated FLOW only, we filed a ticket with the Dapper Collectives team that built CAST and they will be deploying a bug fix later today to resolve this.
While fixing this bug will have minimal impact on the current standing of the vote, it does mean that accounts which had already voted, but had not staked or delegated FLOW according to voting eligibility rules, will now show their total vote weight being 0. Also, accounts that have not staked or delegated FLOW according to voting eligibility rules will no longer be able to cast votes.
The impact of this bug fix is summarized in the following tables.
For accounts that voted BEFORE the fix is deployed.
Scenario
FLOW Staked or Delegated
FLOW Not Staked nor Delegated
Vote Weight BEFORE Fix
Vote Weight AFTER Fix
Account 1
0
100
100
0
Account 2
50
50
100
50
Account 3
100
0
100
100
For accounts that will vote AFTER the fix is deployed.
Scenario
FLOW Staked or Delegated
FLOW Not Staked nor Delegated
Vote Weight BEFORE Fix
Vote Weight AFTER Fix
Account 4
0
100
Not applicable
Cannot vote
Account 5
50
50
Not applicable
50
Account 6
100
0
Not applicable
100
Update: The fix for this was deployed at 10:30am PT 4/12/2022
Update 4/20/2022: The end time on the proposal has been updated to April 29th, 2022.
As reported last week there has been an outstanding bug in CAST which prevented people from being able to vote on the community transaction fee proposal using their Ledger devices. Over the past few days work has been in progress to support voting using your ledger device. Using this new voting method, accounts will be able to submit an on-chain transaction in order to cast their vote to either Accept or Reject the transaction fee proposal. This feature is currently in testing and will be deployed on or before April 22nd, 2022.
Because this issue has impacted so many users, it makes sense to extend the voting timeline to allow Ledger users ample time to cast their vote. The new voting end date for the proposal is April 29th, 2022, giving voters an additional week to participate.
When this change went live the IPFS document representing the vote changed. The new document is linked from the proposal page.
On Friday April 29th the first Flow Governance Proposal was accepted by the community with 371.2k Flow voting to accept, a 95% approval rate. With the passing of this proposal the community has unlocked a major milestone for permissionless deployment. With current plans, segmented transaction fees will be enabled on mainnet on Wednesday, June 1st. Make sure to check out the guide to segmented transaction fees for help with testing your contracts.
