Osmosis has a pool creation fee of 400 OSMO. The pool creation fee exists in order to prevent spam via the creation of useless pools (as happened in the early days of Osmosis). Such spam pools are harmful because they lead to state bloat as well as increased costs to off-chain indexers.
However, as the price of OSMO has increased over the past few weeks, this has caused the pool creation fee to get higher than desirable for the spam resistance purpose.
This proposal suggests to change the pool creation fee from 400 OSMO to 50 USDC. By using USDC, governance will not have to adjust this parameter as frequently in order to react to OSMO price changes.
Can’t we not make it similar to the tx-fees where you can pay in various assets?
That we specify pool creation is indeed 50-100 USD in general, which is converted into an approved asset to be paid during the creation of the pool?
This already passed governance as 100 USDC:
Maybe we should just use this as the discussion to trigger a reduction in OSMO until this is implemented?
Oh. Why was this done as a text prop. Isn’t pool creation fee an on-chain param?
It was going to be a mechanism that takes the denom set on chain as the target price only, but still takes OSMO as the cost/community pool received asset.
The code was basically already done, but the unforking took over priorities.
If we can just set the denom to be the noble denom and the quantity to be 100,000,000 then I can throw up a proposal to do it this way instead. I don’t think it’s much of a discussion as to whether the community pool would rather have 100 USDC or remove 100 OSMO from supply.
send it, ser!
nothing more to add here.
Have tested this on Testnet by making a pool using IBC transferred Juno.
All good to go!
This proposal is now on chain: