This proposal aims to add bridged WETH from the Celo native L2 bridge as a gas currency. WETH will get added to a well-known list of currencies already supported as gas currency, some dating back to mainnet launch in 2020.
As users bridge from Ethereum, one token that they are likely to bridge is ETH (represented as WETH, that's auto-wrapped by the SuperBridge interface). By allowing users to pay gas directly in WETH, they can start transacting right away without needing to load any other gas currency in their account.
The token address for natively-bridged WETH on Celo is: 0xD221812de1BD094f35587EE8E174B07B6167D9Af.
To calculate the intrinsic gas that should be set for WETH, a benchmark was performed. Attached is the result bellow:
src/universal/OptimismMintableERC20.sol:OptimismMintableERC20 Contract:
| Function Name | Min | Avg | Median | Max | # Calls |
|---|---|---|---|---|---|
| creditGasFees | 49815 | 66915 | 66915 | 84015 | 2 |
| debitGasFees | 33958 | 33958 | 33958 | 33958 | 2 |
The number that will be used will be the minimal of both calls is the lowest, as this is the number that resembles normal case. Highest estimations are for the case the fee recipients (sequencer signers and FeeHandler) do not have balance.
The result of the benchmark to be used is creditGasFees=49,815 + debitGasFees=33,958 = 83,773 rounding up to 90,000 for simplicity. These numbers represent total gas consumed, which is independent of gas pricing.
Fill out the following template for each transaction in the proposal
The handlerAddress is the UniswapFeeHandlerSeller (0xD3aeE28548Dbb65DF03981f0dC0713BfCBd10a97), as the burn is not enabled this is not relevant, but the FeeHandler requires this address to be non-zero to handle the token.
You can verify the proposal with the following cli command:
$ celocli governance:view --proposalID TODO -n https://forno.celo.org
As the custom gas-currency has been production tested since mainnet launch, and that WETH is a token from the native bridge, risk for this proposal is minimal. However, it's worth noting that this is the first time an asset with significant volatility is added.