How to distribute MCB when gas fee is so high?

Since the gas fee became too high recently, it now costs 1.4 ETH to distribute MCB. We must decrease the frequency of MCB distribution. We will distribute MCB every week temporarily.

Does the community have any other suggestions? I have several ideas:

  1. Selling a few MCB to cover the gas fee for the distribution.

  2. Crowdfunding - We can make the distribution address public. Whenever the address has enough ETH to cover the gas fee, we will distribute the MCB.

Welcoming feedback and suggestions.

  • Distribute every day and sell some MCB to cover the gas fee
  • Distribute every week
  • Raise the threshold to 20-50 MCB to distribute every day. But this still will cost 0.4ETH per day if the gas keeps so high. Those who haven’t mined enough MCB will be distributed when accumulatively more than 20-50.
  • Use Loopring to distribute. the withdrawl fee is fixed at 0.002ETH. It takes a couple of hours to withdrawl

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I feel selling a few MCB to cover for the gas fee is a good option.

I don’t think crowdfunding will work for this as why will liquidity providers pay to get their reward or why will anyone else pay so that liquidity providers get the reward.

another option: raise the threshold to distribute MCB per day. Right now, we distribute to those who mined more than 1 MCB, for example, we raise the threshold to 10 MCB?
But still, it costs around 0.4 ETH, which is also costly.

There are several solutions.

You can use a Gnosis Safe wallet with the Gas Saver module to use CHI tokens to lower the distribution costs.

You can also execute those transactions when network gas price is at specific level leveraging Gelato and Hal

(It allows you to mint Chi tokens but can easily be adapted to this use case)

More complex but cool distribute them on Layer 2 with Loopring!

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Distributing weekly is bad, look at Balancer’s BAL they notice a large price volatility when they used to issue liquidity mining rewards once a week. Loopring or higher minimum distribution quota seem a much better idea to me.

I support using Loopring, or setting up a Gnosis safe to use Chi tokens as was brought up by @emilianobonassi

Gas prices have settled down a bit from yesterday, but still at 125 for safe transfer. I only see it going up until the release of Eth 2.0. I am glad the team is looking to implement L2 solutions.

Loopring makes the most sense - low fee, and 2hr lag each day is not a huge deal. Much preferred to a weekly distribution.

The idea of a Layer 2 is interesting.

If we’re considering Loopring, I think Syscoin’s SYS-Ethereum Bridge is worth mentioning:

https://syscoin.org/syscoin-bridge

White Block, a third party, verified the bridge as having 60000 TPS. Binance is building BUSD on Syscoin so it could be an interesting possibility here as well.

Loopring sounds good. Don’t think it has been done before and can provide interesting experiment experiences.

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Having to join another project to claim reward make no sense. So if they start increasing their fees, we keep hoping to different project for claiming reward?