EQUILIBRIUM IN EIP-7999'S MULTIDIMENSIONAL FEE MARKET: THE EXECUTION-DATA FEE-FLOOR FRONTIER

Summary from the TLDR Crypto newsletter

EIP-7999 creates separate gas markets for execution, data, and state, but these markets are coupled through block-level access lists that data gas prices and execution activity jointly generate. An Ethereum Foundation internship analysis constructs a joint equilibrium model, finding that a 300M execution gas target requires approximately 77M data gas target, consuming 85.5% of the 90M data cap under reference calibration and leaving minimal headroom. Execution elasticity is the dominant sensitivity parameter: a 1% relative reduction raises the required data target by 7.1%, and a 1.98% reduction pushes requirements past the hard 90M data limit. When data targets fall below the calculated thresholds, execution base fees compress to the 1 wei floor and execution markets underfill despite correct configuration, a failure mode that dynamic simulations may confirm persists long-term.