"name": "Request to subsidise gas fee for Electron bridge",
4
"post_type": "Submission",
5
"description": "Electron Labs officially [launched its mainnet version](https://twitter.com/labs_electron/status/1668257446727434241) for the public on June 12.\\\\n\\\\nSince its launch, Electron protocol processed **115 light client updates** on Ethereum, **43 cross-chain transactions** and gathered a **TVL of $23,000** on the NEAR blockchain, thanks to the [previous sponsorship](https://near.social/devgovgigs.near/widget/gigs-board.pages.Post?id=522) from the Developer DAO. \\\\n\\\\n##### Below is the breakdown of the grant utilisation:\\\\n1. Monthly recurring cost\\\\n- Near light client verification on Ethereum: *3.2789 ETH (~$6,058)*\\\\n- Light client verification on Near: *538 NEAR (~$720)*\\\\n\\\\n2. Fixed cost\\\\n- Deployments and upgrade: *2.0706 ETH (~$3,825)*\\\\n\\\\nThe approx. cost to subsidise the gas fee for zk-proofs is **$24,159 in 3 months**.\\\\n\\\\n### Context\\\\nThe protocol requires generating zk-proofs of Near state and submitting them to verify on the Ethereum blockchain. While the proof verification of Ethereum states on the Near blockchain is cheap, the proof verification on the Ethereum blockchain is quite expensive.\\\\n\\\\nThese proofs are necessary to verify cross-chain transactions in a permissionless manner.\\\\n\\\\n### Ask request\\\\nIn our second round of funding, we request Developer DAO to subsidise gas fees for zk-proofs for the next 3 months (Sept - Nov) totalling $25,000. The asked request has come down by ~16% as we now have the data of the exact cost of verifying proofs on the chain. We still have a surplus of $6,000 from the last grant which is being reserved to help us cover the cost in case the Ethereum gas fee increases by twofold.\\\\n\\\\n### Deliverables\\\\nUpon approval of this request, we will achieve the following goals:\\\\n- We continue running the bridge relayer and generating proofs\\\\n\\\\nOnce again, we would like to thank Developer DAO for supporting us through our journey.\\\\n\\\\nWe also welcome feedback on the bridge experience and highly encourage suggestions. [The link for the mainnet can be found here](https://mainnet.electronlabs.org/bridge)\\\\n\\\\n[Website](https://electronlabs.org/) [Twitter](https://twitter.com/labs_electron)",
"main": "{\\\\\\\"type\\\\\\\":\\\\\\\"md\\\\\\\",\\\\\\\"text\\\\\\\":\\\\\\\"@shubyhere.near [Posted on DevHub](https://near.social/#/devgovgigs.near/widget/Post?id=1076)\\\\\\\\n## Solution: Request to subsidise gas fee for Electron bridge\\\\\\\\nElectron Labs officially [launched its mainnet version](https://twitter.com/labs_electron/status/1668257446727434241) for the public on June 12.\\\\\\\\n\\\\\\\\nSince its launch, Electron protocol processed **115 light client updates** on Ethereum, **43 cross-chain transactions** and gathered a **TVL of $23,000** on the NEAR blockchain, thanks to the [previous sponsorship](https://near.social/devgovgigs.near/widget/gigs-board.pages.Post?id=522) from the Developer DAO. \\\\\\\\n\\\\\\\\n##### Below is the breakdown of the grant utilisation:\\\\\\\\n1. Monthly recurring cost\\\\\\\\n- Near light client verification on Ethereum: *3.2789 ETH (~$6,058)*\\\\\\\\n- Light client verification on Near: *538 NEAR (~$720)*\\\\\\\\n\\\\\\\\n2. Fixed cost\\\\\\\\n- Deployments and upgrade: *2.0706 ETH (~$3,825)*\\\\\\\\n\\\\\\\\nThe approx. cost to subsidise the gas fee for zk-proofs is **$24,159 in 3 months**.\\\\\\\\n\\\\\\\\n### Context\\\\\\\\nThe protocol requires generating zk-proofs of Near state and submitting them to verify on the Ethereum blockchain. While the proof verification of Ethereum states on the Near blockchain is cheap, the proof verification on the Ethereum blockchain is quite expensive.\\\\\\\\n\\\\\\\\nThese proofs are necessary to verify cross-chain transactions in a permissionless manner.\\\\\\\\n\\\\\\\\n### Ask request\\\\\\\\nIn our second round of funding, we request Developer DAO to subsidise gas fees for zk-proofs for the next 3 months (Sept - Nov) totalling $25,000. The asked request has come down by ~16% as we now have the data of the exact cost of verifying proofs on the chain. We still have a surplus of $6,000 from the last grant which is being reserved to help us cover the cost in case the Ethereum gas fee increases by twofold.\\\\\\\\n\\\\\\\\n### Deliverables\\\\\\\\nUpon approval of this request, we will achieve the following goals:\\\\\\\\n- We continue running the bridge relayer and generating proofs\\\\\\\\n\\\\\\\\nOnce again, we would like to thank Developer DAO for supporting us through our journey.\\\\\\\\n\\\\\\\\nWe also welcome feedback on the bridge experience and highly encourage suggestions. [The link for the mainnet can be found here](https://mainnet.electronlabs.org/bridge)\\\\\\\\n\\\\\\\\n[Website](https://electronlabs.org/) [Twitter](https://twitter.com/labs_electron)\\\\\\\"}"