Influenced by the discussion here, I wonder what mechanisms Near has in place from stopping the gas price from soaring if transactions volume goes down? If gas price soars too high up it will de-incentivize users from submitting more transactions creating a feedback loop leading to eventually having no transactions in the system.
If I understand the economics correctly, the gas price goes down if the block is not full. Meaning the gas used is lower than the gas limit. So if there are no transactions, then the gas price should actually go down instead of going up.