One of the biggest problems facing the Livepeer network today is high gas fees on L1 Ethereum which has made it difficult for orchestrators to earn/distribute LPT rewards, for delegators to delegate stake to orchestrators and for broadcasters to use the network without locking up a large amount of capital (the amount of capital that needs to be locked up by a broadcaster for the current probabilistic micropayment protocol implementation rises with gas fees).
This post outlines ideas for a protocol upgrade with the top priority goal of reducing gas fees on the Livepeer network by migrating protocol contracts from L1 Ethereum to a lower cost domain (i.e. L2). The current proposed name for this protocol upgrade is Confluence which is also the name of the next network phase after Streamflow described in the original Livepeer network phases blog post.
The list of candidate updates for Confluence currently includes:
- A new Confluence StakingManager
- L1 <> L2 migration
The rationale for bundling multiple updates into Confluence is that completing these updates together in a single protocol upgrade can create a bigger impact than executing the updates separately and because a migration to L2 will require a new contract deployment anyway so we can take advantage of the opportunity to make updates to contracts that would otherwise be more technically difficult to do if we had to upgrade already deployed contracts.
Please direct feedback for the individual updates to their respective pre-proposal forum threads. Any feedback on the scope of updates to include in Confluence can be included in this forum thread.
- Get community feedback on the scope of the updates to include in Confluence
- Get community feedback on the individual Confluence updates via the pre-proposal forum threads for each of the updates
- If the ideas for the pre-proposals are validated and receive community support, create draft LIPs for the individual updates and a draft bundle LIP for Confluence