SIP-397: Transaction Costs based Rewards - Perps V3 - Fjord

Simple Summary

The sip proposes to put in place a new gas fee logic, which replaces the one currently implemented under SIP-362. The new implementation would incorporate the necessary changes in transaction costs associated with optimism's Fjord upgrade. Depending on governance, base is is expected to update their gas pricing mechanism on July 10th at 16:00:01 UTC. However, the OpGasPriceOracle contract would incorporate a isFjord function and automically switches to the new contract calculation when Fjord is released.

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 + l1GasCost)

where

l1GasCost = getL1FeeUpperBound(unsignedTxSize)

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 Fjord specification in order to continue to incentivize keepers to perform keeping tasks.

Specification

Specification is laid out in this PR.

Configurable Values (Via SCCP)

Aside from existing parameters from the current implementation, the below parameter would be added:

• unsignedTxSize size of the unsigned fully RLP-encoded transaction for settling an offchain delayed order

The initial configuration of unsignedTxSize parameters are as follows:

TransactionType	unsignedTxSize
Settle	5000
Flag	3100
Liquidate	1100

Test Cases

Will be setup after the testnet release.

References

• Optimism Gas Price Contract

Copyright

Copyright and related rights waived via CC0.