Skip to content

Commit

Permalink
Update gas-pricing.md with link to Quorum description (MystenLabs#2207)
Browse files Browse the repository at this point in the history
* Update gas-pricing.md

* Update gas-pricing.md

Move and fix link
  • Loading branch information
Clay-Mysten authored May 24, 2022
1 parent 9ce05fb commit 57793fa
Showing 1 changed file with 1 addition and 1 deletion.
2 changes: 1 addition & 1 deletion doc/src/learn/tokenomics/gas-pricing.md
Original file line number Diff line number Diff line change
Expand Up @@ -23,7 +23,7 @@ $\text{ with } \ ComputationPrice[\tau] > PriceFloor.$
The $ReferencePrice$ is fixed at the network level for the duration of the epoch, while the tip is at the user’s discretion. Since the tip can be negative, in practice the user can submit any gas price – as long as the overall price is higher than the $PriceFloor$. Note that the $PriceFloor$ will be updated periodically, with $ReferencePrice > PriceFloor$, and exists mainly to prevent a flood of network spamming.

Sui’s gas price mechanism is intended to make the $ReferencePrice$ a credible anchor for users to use when submitting transactions to the network, thereby providing reasonable confidence that transactions submitted with gas prices at or close to the reference price will be executed in a timely manner. This is achieved through three core steps:
* _Gas Price Survey_ - A validatory-wide survey is conducted at the beginning of each epoch, and every validator submits their reservation price. That is, each validator states the minimum gas price at which they are willing to process transactions. The protocol orders these quotes and chooses the 2/3's percentile by stake as the reference price. The gas price survey’s goal is to set a reference price under which a quorum of validators are willing to promptly process transactions.
* _Gas Price Survey_ - A validatory-wide survey is conducted at the beginning of each epoch, and every validator submits their reservation price. That is, each validator states the minimum gas price at which they are willing to process transactions. The protocol orders these quotes and chooses the 2/3's percentile by stake as the reference price. The gas price survey’s goal is to set a reference price under which a [quorum](../architecture/validators.md#quorums) of validators are willing to promptly process transactions.
* _Tallying Rule_ - Throughout the epoch, validators obtain signals over the operations of other validators. Each validator uses these signals to build a (subjective) evaluation over the performance of every other validator. Specifically, each validator constructs a multiplier for the stake rewards of every other validator such that validators who behave well receive boosted rewards, and validators who do not receive reduced rewards. Good behavior is proxied by the share of transactions above a validator’s self-declared reservation price that the validator processed in a timely manner. The tallying rule’s goal is to create a community-enforced mechanism for encouraging validators to honor the quotes submitted during the gas survey.
* _Incentivized Stake Reward Distribution Rule_ - At the end of the epoch, the distribution of stake rewards across validators is adjusted using information from the gas price survey and tallying rule. Specifically, a global multiplier is built for every validator using the median value – weighted by stake – out of the set of individual multipliers constructed during the tallying rule. The incentivized stake reward distribution then sets the share of stake rewards distributed to each validator $v$ as:

Expand Down

0 comments on commit 57793fa

Please sign in to comment.