Reflecting on AIP161 Feedback and Revising Proposed Reward

Abstract

  • The gas optimization contribution that has taken place continues to serve and save users a significant amount of funds for gas fees on a daily basis, please refer to the Dune dashboard.
  • This proposal aims to review the proposed reward for AIP 161, the feedback from the community was eye opening and insightful to shape the current proposal.
  • In summary, back when the staking contract was being audited through AIP34, I found multiple gas optimizations findings, which were shared with Immunefi and classified as out of scope, since they are only concerned about security findings. thereafter, due to the time scarcity to form an AIP and wait for it to pass to implement the gas optimizations and the mainnet launch was in the following 2-3 weeks. I decided to get it implemented by reaching out to Horizen Labs. which they were happy about the findings and implemented the findings at the last moments.
  • This proposal will set an example and a big motivation for open source contributors to contribute to the DAO and obey by one of the main DAO’s guiding values:
    Collective Responsibility: We leave everything better than we found it.”

Motivation

  • The contribution that has been done has the best interest of the community at heart, and it is significantly saving on the cost to use the staking contract.
  • Rewarding open source contribution that benefits the DAO community, attracts and incentivize others to add value to ApeCoin and result in a net positive for the DAO.
  • Gas optimizations is an overall underestimated part of smart contracts, since it doesn’t impact the functionality or the security. The end user is the one that pays the price in extra unnecessary fees.

Rationale

  • A recap from last proposal, I had profiled the gas saving difference percentage between the unoptimized and optimized staking contract, it resulted in the following metrics:

    gas-profiling

  • The percentages were used in a dune dashboard to calculate:

    • the saved amount of fees so far.
    • the expected to be saved in 3 years based on the saved amount so far.
  • Based on the dune dashboard as of 19th January 2023:

    • it has already saved 54.5 ETH in gas fees.
    • expected to save 1,330 ETH in the total staking period of 3 years.
  • Reflecting on AIP 161 feedbacks, the community overall feels that:

    • The requested reward is excessive, that’s where this proposal will reduce the reward and explicitly specify the amount in the DAO’s native token $APE.
    • Others feels that it’s Horizen Labs responsibility to compensate and not the DAO, I have reached out to Dean - Horizen Labs CEO for comment. He responded with the following “You asked me to fwd your code along to our engineers. I did that. I have made no commitment beyond that.”, so they are considering that they were just a platform to aggregate the open source contribution and not willing to offer any compensation. Instead, I should propose it to the DAO.
  • The contribution goals have proved a full alignment with the DAO’s guiding values:

    • Boldness: We don’t shy away from the weird, the hard, or the new.
    • Equality: One APE equals one APE.
    • Transparency: Processes and decisions are shared openly with the community.
    • Collective Responsibility: We leave everything better than we found it.
    • Persistence: Success is an ouroboros, not a straight line.
  • So far the impact that it has made on saving users funds was great to observe, either way this proposal go, i am grateful for the opportunity to experience how is like to contribute to a DAO and very glad to meet many awesome and kind-hearted members that were very supportive from the early phase, when I had a hard time to reach out to Horizen Labs to share my findings.

Specifications

  • In gas profiling, hardhat-gas-reporter was used along with Hardhat unit testing setup to offer the right environment to profile the gas differences and reduction percentages on every function that the end users can use to deposit, claim and withdraw on all the 4 pools.
  • Dune platform was used to quantify the gas saved based on the percentages from the gas profiling table. It made it easy to determine based on the LIVE data on-chain the saved gas fees on each function separately and calculate the expected funds to be saved in 3 years.

Steps to Implement

Once this proposal pass, a 2% of the funds that are going to be saved in 3 years of the staking period based on the Dune dashboard (reward = 1300 ETH * 2% = 26 ETH ≈ 8000 $APE) can be rewarded to the contributor.

Timeline

none.

Overall Cost

8000 $APE

I’m sorry your first vote didn’t pass, it’s very discouraging but I am glad to see you come back with a revised proposal. :heart:

5 Likes

I second @Amplify here, it’s regrettable that people didn’t appreciate your prior ask. I’ll be supporting you once again this time around, hopefully your revised proposal will be met with a warmer reception than the last.

4 Likes

Thank you for the kind support :heart:, unfortunately, didn’t get the chance to hear those feedbacks early on in the forum. I could have made the changes back then. but it was a great experience after all :white_heart:

3 Likes

Thank you Chris, I couldn’t have done it without you, you were the one who brought Horizen Labs attention to the gas optimizations back then. I extremely appreciate the kind-hearted support :heart:

2 Likes

I will always support the audits and implementation. tell me more about what is the staking for, tell me exactly for what the contacts will use this staked money if it will.

2 Likes

The proposal is a review of the reward proposed on AIP161 for the gas optimizations contribution to the ApeCoin staking contract which made it more efficient and saved users on extra gas fees. For live data, you may refer to the Dune dashboard.

2 Likes

Hello @codeislight

Just a gentle reminder here that the seven-day window of community discussion is soon closing. Are you satisfied with the amount of discussion? If so, we will move forward to Draft Preparation. If not, would you like to extend the discussion period by another seven days?

Will be awaiting your response.

Best,
-mallard

3 Likes

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