When conducting the pledge after testing, the gas fee is 0.01 SUI. If the price of SUI reaches $10, then isn’t a fee of $1 a bit high?
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This is an interesting topic, as there are various factors at play.
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Right now Sui has no real world value, so there is no incentive to try to determine what the gas prices may or should look like come mainnet. When mainnet hits and Sui obtains real world value, validators are incentivized to set fair and appealing prices. Which I’ll talk about next.
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Sui’s tokenomic model attempts to maintain stable gas prices despite variance in network demand. To do this, the network sets a Reference Gas Price (RGP) at the start of every epoch. Sui epochs are 24 hours long. If a transaction has a gas price >= RGP, the user can expect their transaction will be included in a block. At each epoch boundary, validators vote on the next epoch’s RGP. The RGP is then set as the 2/3rd mean by stake of all validators’ votes. So, day after day you’re going to see this RGP adjusted until we’re within a suitable range based on demand. [Source]
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