Meanwhile…
Gas prices have been dropping from the prior max. At the moment, averaging 77 gwei, which amounts to about $0.62 USD per transaction. So, it’s likely that this thread will be OBE (overcome by events) Sept 10th or so when the payouts start rolling.
If one looks at where gas is being consumed… one notices that the two largest gas users are Uniswap and Tether (about $22 Million USD combined in gas in 30 days). Both consume large amounts of gas due to the complex smart contracts being executed.
Clearly, DeFi and arbitrage bots need Proof of Stake… Ethereum is getting there… slowly. very slowly.