In a few months time the first registrants will have to reapply. Is it an idea to postpone the necessary reapplication for a year for the first 10.000 registered users. The gas costs are extremely high at the moment. Hopefully in a years time gas costs will have come down.
Or are you working on another way to minimize gas costs perhaps?
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Sounds like a solid idea. I agree.
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I think it´s a good idea. Nevertheless I have thought, if the purpose of reapplication is a sort of “proof of life continuity”, wouldn´t be enough vouching others? I mean, after all, if one human is validating other, it means that people still alive. I think it would be a great implementation, if possible, at least to extend the period of reapplication. Do you think it is feasible?
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Maybe the vouching could work for prolongation of the registration period. Perhaps a developer can say something about how feasible extending the registration period is?
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To reinforce the issue some math. Suppose with current gas prices the gas cost for a renewal is something like $200. Than it would cost like 2 million dollars for 10.000 humans to renew their entry.
That seems like an awful lot of money just to weed out a handful accounts of humans who died last year.
I guess the downside of going through with something like this is that revalidation is required as a proof you are alive. If we extend the reapplication it would be too long time that UBI is going to be issued to dead people.
Horrible, but someone has to say it.
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Hi LuisL,
I am aware of that. But what is exactly the problem that it’s issued to a handful of dead people for a bit longer. Of course you want to keep the registry up tot date. But I think the cost of 2 million dollars is way to high to counter this (tiny?) problem. We must be able to think of a better way to spend that money.
If the deceased lack a contingency plan (most new crypto users) then the $ubi dripped to the deceased address is irrelevant since where the private key is essentially lost.
The $vote token and relevant snapshot delegation however persists even when the deceased’s private key is essentially locked/lost.
Its uncertain if fees on eth L1 will drop significantly in the mid - near term. . . Perhaps better to think about POH migrating to an L2 zk-rollup.
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L2 absolutely, but can such a migration be done in just a few months time?
In the mean time postponing the re-application for a year saves us all 2 million dollar in gas costs even if the L1 fees don’t drop next year.
Registrations actually do extend over 1 year.
The renewal period starts at 6 month, but you can renew your profile after 11 months.
Yes the proposal is to extend that 1 year with another year. So that the total registration is 2 year and you don’t have to renew until it’s 23 months. That would save a huge amount of gas costs.
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I’m in favour of this
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Sounds very logical. I am also in favor of this proposal.
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Beside the sockpuppeteers (which is a bribing attack and not a Sybil attack per say), we didn’t notice any attack on the registry.
The pro of asking everyone to renew:
- May help find other sockputeers we missed.
- Remove people who died during that time (assuming 72 years of life expectancy that’s 131 members of the registry which should have passed away).
The cons:
- Lot of gas cost.
- Some people may not renew so less PoH registered users.
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That sums it up nicely.
Taking into account that most profiles do need renewing in a couple of weeks and that the average gas prices aren’t favorable even on weekends, I do agree with @senryu that re-entry for all registered profiles is going to be absurdly expensive.
We are looking at a million to two million USD cost in total to renew
The certainty of cons mentioned, lesser registered PoH users and lots of gas costs, are a greater threat to the momentum we have in place than the assumptions of missed challenge to some profiles whose identity were either stolen or bought, or removal of those who might have died in the past year.
So while we are still finalizing what to do with puppeteers, profile farmers, oath texts, and improving the user experience and cost overall, it makes sense to extend the validity for another year or a total of 2-year validity for each profile.
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Yes, it’s way too expensive. Gas prices are even worse now than two months ago.
Can any of the developers say something about wether there is something in the works to avoid this waste of UBI?
Maybe postponing the renewals for a year or use the Polygon network or something else?
If the devs can confirm that cancelling this year’s renewal and extending the validity to 2 years are feasible then we can create an HIP and put it to vote
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That would be great! Hope to hear from a dev.