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

ProposalLoading status...

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.


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)


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.


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 is laid out in this PR.

Configurable Values (Via SCCP)

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

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.


Copyright and related rights waived via CC0.