SIP-362: Transaction Costs based Rewards - Perps V3 - Ecotone
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
Simple Summary
The sip proposes to put in place a new gas fee logic, which replaces the one currently implemented under SIP-356. The new implementation would incorporate the necessary changes in transaction costs associated with optimism's ecotone upgrade. Depending on governance, base is expected to update their gas pricing mechanism on 18th of March. Therefore, this sip would be implemented immediately following the base update.
Abstract
Implements the new gas price logic relies on the optimism documentation, where the cost of executing a transaction would be based on the below calculation:
costOfExecutionGross := (l2GasPrice * l2GasUnits + l1GasPrice * l1GasUnits)
where
l1GasPrice = (16*baseFeeScalar*baseFee + blobBaseFeeScalar*blobBaseFee)/(16*10**decimals)
With the rest of the components in terms of obtaining the parameters from the base gas contract, the conversion to USD via the ETH/USD node, the upper and lower bounds on gas price compensation unchanged.
Motivation
The main motivation is to update the protocol, as per the Ecotone specification in order to continue to incentivize keepers to perform keeping tasks.
Specification
The changes laid out in this SIP are incorporated in PR's 2003 and 2011.
Test Cases
Will be setup after the testnet release.
References
Copyright
Copyright and related rights waived via CC0.