diff --git a/configs/mainnet.yaml b/configs/mainnet.yaml
index 8306bb378..6d71cfa47 100644
--- a/configs/mainnet.yaml
+++ b/configs/mainnet.yaml
@@ -162,9 +162,6 @@ DOMAIN_CUSTODY_BIT_SLASHING: 0x83000000
 # ---------------------------------------------------------------
 PHASE_1_FORK_VERSION: 0x01000000
 INITIAL_ACTIVE_SHARDS: 64
-# Placeholder
-INITIAL_GASPRICE: 10
-
 
 # Phase 1: General
 # ---------------------------------------------------------------
@@ -190,8 +187,8 @@ SHARD_BLOCK_OFFSETS: [1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233]
 MAX_SHARD_BLOCKS_PER_ATTESTATION: 12
 # 2**14 (= 16,384) Gwei
 MAX_GASPRICE: 16384
-# 2**5 (= 32) Gwei
-MIN_GASPRICE: 32
+# 2**3 (= 8) Gwei
+MIN_GASPRICE: 8
 #  2**3 (= 8)
 GASPRICE_ADJUSTMENT_COEFFICIENT: 8
 
diff --git a/configs/minimal.yaml b/configs/minimal.yaml
index e5d6ca308..9daf428b4 100644
--- a/configs/minimal.yaml
+++ b/configs/minimal.yaml
@@ -164,8 +164,6 @@ DOMAIN_CUSTODY_BIT_SLASHING: 0x83000000
 PHASE_1_FORK_VERSION: 0x01000001
 # [customized] reduced for testing
 INITIAL_ACTIVE_SHARDS: 4
-# Placeholder
-INITIAL_GASPRICE: 10
 
 
 # Phase 1: General
@@ -192,8 +190,8 @@ SHARD_BLOCK_OFFSETS: [1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233]
 MAX_SHARD_BLOCKS_PER_ATTESTATION: 12
 # 2**14 (= 16,384) Gwei
 MAX_GASPRICE: 16384
-# 2**5 (= 32) Gwei
-MIN_GASPRICE: 32
+# 2**3 (= 8) Gwei
+MIN_GASPRICE: 8
 #  2**3 (= 8)
 GASPRICE_ADJUSTMENT_COEFFICIENT: 8
 
diff --git a/specs/phase1/beacon-chain.md b/specs/phase1/beacon-chain.md
index e434e7eae..3db7f9537 100644
--- a/specs/phase1/beacon-chain.md
+++ b/specs/phase1/beacon-chain.md
@@ -101,7 +101,7 @@ Configuration is not namespaced. Instead it is strictly an extension;
 | `SHARD_BLOCK_OFFSETS` | `[1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233]` | |
 | `MAX_SHARD_BLOCKS_PER_ATTESTATION` | `len(SHARD_BLOCK_OFFSETS)` | |
 | `MAX_GASPRICE` | `Gwei(2**14)` (= 16,384) | Gwei | |
-| `MIN_GASPRICE` | `Gwei(2**5)` (= 32) | Gwei | |
+| `MIN_GASPRICE` | `Gwei(2**3)` (= 8) | Gwei | |
 | `GASPRICE_ADJUSTMENT_COEFFICIENT` | `2**3` (= 8) | |
 | `DOMAIN_SHARD_PROPOSAL` | `DomainType('0x80000000')` | |
 | `DOMAIN_SHARD_COMMITTEE` | `DomainType('0x81000000')` | |
diff --git a/specs/phase1/phase1-fork.md b/specs/phase1/phase1-fork.md
index adb0cd236..173fceeb4 100644
--- a/specs/phase1/phase1-fork.md
+++ b/specs/phase1/phase1-fork.md
@@ -36,7 +36,6 @@ Warning: this configuration is not definitive.
 | - | - |
 | `PHASE_1_FORK_VERSION` | `Version('0x01000000')` |
 | `INITIAL_ACTIVE_SHARDS` | `2**6` (= 64) |
-| `INITIAL_GASPRICE` | `Gwei(10)` |
 
 ## Fork to Phase 1
 
@@ -102,7 +101,7 @@ def upgrade_to_phase1(pre: phase0.BeaconState) -> BeaconState:
         shard_states=List[ShardState, MAX_SHARDS](
             ShardState(
                 slot=pre.slot,
-                gasprice=INITIAL_GASPRICE,
+                gasprice=MIN_GASPRICE,
                 data=Root(),
                 latest_block_root=Root(),
             ) for i in range(INITIAL_ACTIVE_SHARDS)