SIMD-0436
Reduce lamports_per_byte to 3480
TL;DR
Reduce `lamports_per_byte` by 50% to 3480, which is equivalent to reducing the rent-exempt minimum balance by half for all new and existing accounts. Requires SIMD-0392: Relaxation of post-execution min_balance check, to allow for subsequent rent increases if necessary.
Summary
Reduce `lamports_per_byte` by 50% to 3480, which is equivalent to reducing the rent-exempt minimum balance by half for all new and existing accounts. Requires SIMD-0392: Relaxation of post-execution min_balance check, to allow for subsequent rent increases if necessary.
Motivation
Minimum account balance depends on an arbitrary constant set years ago that has since increased significantly in real terms due to increases in the SOL price. This has made state allocation cost more expensive on mainnet beta than on competitors, with no compelling justification provided by real resource costs.
Impact
- Lower rent for app developers. Existing accounts and programs using the higher rent value will be unaffected, besides being allowed to reduce the balance to the new minimum. - Validators: a potential increase in state growth. In the unlikely case of excessive state growth, rent can be increased back to the legacy value (0392 allows this without significant disruption to existing accounts.)
Backwards Compatibility
Rent reduction is strictly a relaxation of existing constraints so all existing program logic will continue to work as before.
Security Considerations
N/A