[Proposal: MB101] Burn 100% of Transaction Fees on Moonbeam

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TL;DR: The Moonbeam Foundation, based on community feedback following a study by Gauntlet, proposes the following change to the tokenomics of Moonbeam:

  • Change the proportion of transaction fees that are burned to 100% (currently, 80% are burned and 20% of the fees are sent to the treasury).

This change is to be voted on through governance.

Abstract

This Moonbeam proposal is to change the proportion of transaction fees that are burned to 100% (currently, 20% of the fees are sent to the treasury).

Details

This proposal is a follow up to MB90 - please review that proposal for the full details.

With the recent upgrade to RT3401, it is now possible to adjust the percentage of fees that are burned vs directed to the treasury via Governance and this proposal is to increase the percentage of fees burned from 80% to 100%.

This change was successfully tested using chopsticks and was also executed on Moonriver without issue as part of MR69.

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As part of this discussion can we review the state of the treasury? If Moonbeam is flush and can support years worth of development as well as the grant program, I’m all for it.

But if this could potentially impact the grant program, then I worry this might not support growth.

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hey, actually, it won’t affect network development since the following proposal passed: [Proposal: MR64] Direct 80% of PBR Inflation to Treasury on Moonriver - now, 1.3% of inflation from the parachain bond reserve goes directly to the treasury to support ecosystem development and community proposals

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