Meeting Date & Time: Friday 5, May 2023 00:00 UTC
Meeting Recording:
Meeting Slides: https://docs.google.com/presentation/d/16rcHFfm3nqhZ0Ty4yDusEwxHEHlujA23n5UdkMoOb_Y/edit?usp=share_link
Facilitated by Shyam Sridhar (CryptoEconLab)
Filecoin as a network is seeing a steady increase in network terminations. Currently, termination fee structure is designed for 6 months sectors. The purpose of this discssion as well as the discussion thread in Github is to determine if there is a problem that needs to be solved and discuss possible improvements and solutions to the problem.
A public discussion thread has been started which is aimed at gathering community feedback on the problem and potential solutioning. More information can be found here. Some key highlights of the existing terination problems are listed below;
- Between July 2022 to March 2023, the network has recorded higher values for daily fraction of raw byte power terminating than the past year and half.
- Current projections indicate a strong potential for a significant increase in the coming year.
- A similar trend is noticed on the daily raw byte power (TiB) terminating. Both projections for the coming few months show a potential for increase in the daily terminations of the network.
General ideas and discussions:
- It was suggested to the author to decompose the context of the problem and describe summarily what factors are good for the network in order to make Filecoin more robust and reliable. At the same time, the author of the discussion is encouraged to structure the arugment such a way as to understand the impact of termination on the overall network- is there a real-time problem about robustness of the netwoork due to terminations vice-versa?
- It is useful to investigate and find patterns in the sectors that are being terminated and understand when they were terminated.
Facilitated by Alex North (CryptoNetLab) Alex North floated some ideas and changes aimed at improving utility and flexibility of storage by:
- Reducing onboarding frictions
- Improving programmability
- Maintaining safety and network revenue
These are mainly proposed or existing improvements and changes with their dependencies with each other.
Additional work is still ongoing to map these dependencies and improvements. More information on this work can be found here
Facilitated by the Aayush Rajasekran (Lotus)
The Lightning Upgrade successfully landed on mainnet as a reult of collaborative efforts of all teams given the need to expedite the upgrade. A deeper retro session on this upgrade will be held during the next Core Devs call.
There is need for Core Devs to put in place mechanisms to still maintain decentralized decision making processes whilst also moving quickly on needed improvements.
- Community Governance Call- register [here].(https://fil-org.zoom.us/meeting/register/tZMkf-2qpjIqEt3nkeKh_7f7_F6wPm76zbTw)