This proposal would change the gas required to create a Tokenfactory Denom to 1,000,000 from 40,000,000.
Background
The Tokenfactory parameter DefaultCreationGasFee was set to 40,000,000 during the v16 upgrade as a spam prevention measure, as recommended in Proposal 489.
The current mempool max gas per transaction value is set to 25,000,000, which causes any transaction that uses more than this amount of gas to fail automatically.
This proposal, therefore, lowers the DefaultCreationGasFee to 1,000,000 as an arbitrarily high number for spam prevention measures while being below the max gas per transaction value.
Target On-Chain date: 14th July 2023