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rework priority fee logic #33

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rework priority fee logic #33

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83fef11
rework priority fee logic
christianangelopoulos Feb 16, 2025
e62719c
PR 33 feedback
christianangelopoulos Feb 17, 2025
ea7f3f1
fixed tests
christianangelopoulos Feb 17, 2025
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38 changes: 16 additions & 22 deletions ethers-core/src/utils/mod.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -78,13 +78,18 @@ pub const EIP1559_FEE_ESTIMATION_PAST_BLOCKS: u64 = 10;
/// The default percentile of gas premiums that are fetched for fee estimation.
pub const EIP1559_FEE_ESTIMATION_REWARD_PERCENTILE: f64 = 5.0;
/// The default max priority fee per gas, used in case the base fee is within a threshold.
pub const EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE: u64 = 100_000_000;
/// changing to reflect https://github.com/alloy-rs/alloy/blob/1060b08ffc4ce5b858755dec15da34a4ccf43d0f/crates/provider/src/utils.rs#L44
pub const EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE: u64 = 1;
/// The threshold for base fee below which we use the default priority fee, and beyond which we
/// estimate an appropriate value for priority fee.
pub const EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER: u64 = 100_000_000_000;
/// The threshold max change/difference (in %) at which we will ignore the fee history values
/// under it.
pub const EIP1559_FEE_ESTIMATION_THRESHOLD_MAX_CHANGE: i64 = 200;
/// Multiplier for the current base fee to estimate max base fee for the next block.
/// changing to reflect https://github.com/alloy-rs/alloy/blob/1060b08ffc4ce5b858755dec15da34a4ccf43d0f/crates/provider/src/utils.rs#L44
pub const EIP1559_BASE_FEE_MULTIPLIER: u128 = 2;


/// This enum holds the numeric types that a possible to be returned by `parse_units` and
/// that are taken by `format_units`.
Expand Down Expand Up @@ -439,11 +444,8 @@ pub fn eip1559_default_estimator(base_fee_per_gas: U256, rewards: Vec<Vec<U256>>
U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE),
);
let potential_max_fee = base_fee_surged(base_fee_per_gas);
let max_fee_per_gas = if max_priority_fee_per_gas > potential_max_fee {
max_priority_fee_per_gas + potential_max_fee
} else {
potential_max_fee
};
let max_fee_per_gas = max_priority_fee_per_gas + potential_max_fee;

(max_fee_per_gas, max_priority_fee_per_gas)
}

Expand Down Expand Up @@ -494,15 +496,8 @@ fn estimate_priority_fee(rewards: Vec<Vec<U256>>) -> U256 {
}

fn base_fee_surged(base_fee_per_gas: U256) -> U256 {
if base_fee_per_gas <= U256::from(40_000_000_000u64) {
base_fee_per_gas * 2
} else if base_fee_per_gas <= U256::from(100_000_000_000u64) {
base_fee_per_gas * 16 / 10
} else if base_fee_per_gas <= U256::from(200_000_000_000u64) {
base_fee_per_gas * 14 / 10
} else {
base_fee_per_gas * 12 / 10
}
// changing to reflect https://github.com/alloy-rs/alloy/blob/1060b08ffc4ce5b858755dec15da34a4ccf43d0f/crates/provider/src/utils.rs#L44
base_fee_per_gas * U256::from(EIP1559_BASE_FEE_MULTIPLIER)
}

/// A bit of hack to find an unused TCP port.
Expand Down Expand Up @@ -954,13 +949,11 @@ mod tests {

#[test]
fn test_eip1559_default_estimator() {
// If the base fee is below the triggering base fee, we should get the default priority fee
// with the base fee surged.
let base_fee_per_gas = U256::from(EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER) - 1;
let rewards: Vec<Vec<U256>> = vec![vec![]];
let (base_fee, priority_fee) = eip1559_default_estimator(base_fee_per_gas, rewards);
// if estimate_priority_fee returns 0, we should return the default priority fee
let rewards: Vec<Vec<U256>> = vec![vec![U256::zero()]];
let (base_fee, priority_fee) = eip1559_default_estimator(U256::zero(), rewards);
assert_eq!(base_fee, U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE));
assert_eq!(priority_fee, U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE));
assert_eq!(base_fee, base_fee_surged(base_fee_per_gas));

// If the base fee is above the triggering base fee, we calculate the priority fee using
// the fee history (rewards).
Expand All @@ -971,7 +964,8 @@ mod tests {
vec![102_000_000_000u64.into()],
]; // say, last 3 blocks
let (base_fee, priority_fee) = eip1559_default_estimator(base_fee_per_gas, rewards.clone());
assert_eq!(base_fee, base_fee_surged(base_fee_per_gas));
let expected_max_fee = base_fee_surged(base_fee_per_gas) + estimate_priority_fee(rewards.clone());
assert_eq!(base_fee, expected_max_fee);
assert_eq!(priority_fee, estimate_priority_fee(rewards.clone()));

// The median should be taken because none of the changes are big enough to ignore values.
Expand Down
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