feat(ethereum-storage): gas fee multiplier & max gas fee #1318
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| gasPriceMultiplier: 200, // x2 | ||
| }); | ||
| expect(normalizedGasFees.maxPriorityFeePerGas?.toString()).toBe('2000000000'); // 2 Gwei | ||
| expect(normalizedGasFees.maxFeePerGas?.toString()).toBe('44000000000'); // (20 + 2) x 2 = 44 Gwei |
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I have a question, according to the formula:
Total Fee = Gas unit (limits)*(Base fee + Tip)
Could it be useful to have a parameter that multiplies only the Tip? Allowing to be better than other tips, but without a gasFees value too high.
In the test, gasFees => 20 + (2) x 2 = 24 Gwei
I might be lacking of context (google didn't help that much).
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The formula for eip-1559 is maxFeePerGas = baseFeePerGas + maxPriorityFeePerGas, see https://docs.alchemy.com/docs/maxpriorityfeepergas-vs-maxfeepergas
The priority fee is the fee given to validators for including our transaction. The priority fee is set by us: we use the urgent value of the lib rainbow-me/fee-suggestions, which is set to a minimum of 2Gwei, see here. This signals the network that we are willing to pay for our transaction to be included ASAP. We have control over this value, this is not an issue.
However, we have no control over the base fee. The base fee is set by the network, and it is burned when the transaction is included. It is approximated by the lib rainbow-me/fee-suggestions, but between the time of approximation and the time of the transaction, the base fee can change a bit.
Because the base fee can change, the total will also change, which is the second value we control: we can set a cap for the total value with maxFeePerGas. However if maxFeePerGas is set too low and the base fee increases between approximation and inclusion, there might be a very low amount of gas remaining for validators to take their priority fee cut.
To fix this, I introduced a multiplier that acts on the total. We can virtually increase the total (hence the approximation) and this will give room for our transaction to be included. Note that this doesn't mean we will pay more gas in the end, because miners/validators cannot cheat on the amount of gas used (defined by the EVM) and the base fee (defined by the network on each block). They can only decide which cut of the priority fee they want to take (they usually take all of it).
Description of the changes
This PR introduces two new options to the
EthereumTransactionSubmitter:gasPriceMax: this parameter can be used to protect against gas price spikes and adds an upper thresholdgasPriceMultiplier: this parameter can be used to add a margin to the computed gas fee