Greetings! First and foremost, love the product and concept behind it. You guys have done a great job at getting us this far!!
As it stands, gas fees are genuinely hurting adoption and usability, as numerous posts have pointed out, especially in relation to vesting. Reducing gas fees would therefor be a massive boon to the $GRO.
I’m not sure to what extent the following is possible, but what I propose is that vesting is bundled. What I mean by this is, as it stands, each user pays gas for each of their vesting transactions. What would severely reduce the gas fees is, if all user vesting transactions were bundled and admitted to the main Eth chain in one single transaction.
User could still have the option of paying for gas and having their vesting done immediately. But the alternative could be to have it the vest executed at the end of the day, or at some predetermined interval, thereby notably reducing gas fees.
Alternatively, user could sign a contract that automatically vests. This lowers barriers to entry and makes visiting the $GRO space a pleasant experience.
I understand that there is a desire to bring back people to the website/ecosystem by having them execute a vest themselves. But the downside to that is that every time people come to the site/ecosystem to vest, they are confronted with costs. It’s like checking up on something cool that costs money every time. That cool factor deteriorates over time, hence the product isn’t sticky and thus does not achieve the desired outcome.
Thanks @Chaosed for the suggestion! I’ve passed it to our dev team
Meanwhile I also wanted to summarise a few other options that were floated in our discord / telegram chat (please feel free to add to the list, clarify or challenge what could be done!)
One click to start vesting from multiple pools
- This has been the most frequently asked question about why there is no one button that users could click can claim/start vesting from all pools.
- Dev team has looked into it and gave feedback that this would still require a claim/start vesting function to be called into each pool and/or airdrop which would spend gas. By having that button, users may click it and ended up claiming from pools with very few GRO (while still spending gas to call that function), so it wouldn’t reduce gas cost and might even increase it because of claims made to pools with very few GRO.
Moving Rewards to L2
- This would mean keeping the current mechanism in place, but reduce gas cost through moving rewards to L2.
- This might be something more down the road - if we don’t move the protocol completely to L2, bridging may introduce some level of centralisation that would need to be considered.
- It may also risk splitting GRO earning across L1 and L2. I don’t know whether we could move the existing vesting contracts on L1 over, so that we have all rewards in one place - would love any input on this!
As mentioned by OP, the mechanism was built with engagement in mind – that said we also have the vesting pool bonus mechanism in place that would encourage users to come back every 2 weeks or so to claim their bonus, so we could take the full picture into consideration (i.e. where we could streamline vs where we’d prefer to retain the engagement component)
It’s been a week and no reply from the team
When the price for the $GRO token depreciates, the usability of the platform in terms of vesting drops significantly. It is no longer worth spending the gas to vest the token - which is one of the main selling points for using $GRO to begin with. This is a serious issue that needs to be addressed.
Hey fren! Thanks for the post, I enjoyed reading through your thoughts. The team is busy building away so they may not be able to reply to all posts, however I think your concerns have been heard! We are expecting some news regarding Avax very soon which should make vesting and claiming rewards much cheaper!
Cool for your to reach out Choco! I much appreciate it.
This suggestion from @Chaosed (and others in Discord) is now baked into the current tokenomics proposal on Draft for revised GRO Tokenomics
Thanks for helping drive it!