Thanks for putting this proposal together Tao!
A technical question which maybe should’ve been asked on the SIMD: There is an expectation (at least by some) that this would lead to lower priority fees as the market finds a new equilibrium. This made me wonder if the RPC methods to fetch recent priority fee samples needs to be (or is) adjusted with this change to reflect the changed burn rate?
Overall I believe this change makes sense, though I’d prefer to have more evidence that side deals are happening and are a problem. At the same time the burn on the base fee should in theory protect the original purpose of the burn.
There have been some comments in the past relating to this proposal with reference to economics and reduced burn causing a rise in net emissions on the network, while this might be the case I’m not convinced that this is materially significant relative to the inflationary rewards.
EDIT: On reflection the burn argument doesn’t make sense, as burning prio fees is just a bonus, if prio fees are not burned or prio fees don’t exist at all makes no difference to emission.