Increase base fee multiplier from 1.5 to 1.65 (#3917)

osmosis-labs · Oct 28, 2024 · c483069 · c483069
1 parent c8a2972
commit c483069
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Showing 2 changed files with 21 additions and 24 deletions.
diff --git a/packages/tx/src/__tests__/gas.spec.ts b/packages/tx/src/__tests__/gas.spec.ts
@@ -13,6 +13,7 @@ import { ApiClientError } from "@osmosis-labs/utils";
 import type { Any } from "cosmjs-types/google/protobuf/any";
 
 import {
+    defaultBaseFeeMultiplier,
   getDefaultGasPrice,
   getGasFeeAmount,
   getGasPriceByFeeDenom,
@@ -322,7 +323,7 @@ describe("getGasFeeAmount", () => {
       })
     )[0];
 
-    const expectedGasAmount = new Dec(baseFee * gasMultiplier)
+    const expectedGasAmount = new Dec(baseFee * defaultBaseFeeMultiplier)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -419,7 +420,7 @@ describe("getGasFeeAmount", () => {
       })
     )[0];
 
-    const expectedGasAmount = new Dec(baseFee * gasMultiplier)
+    const expectedGasAmount = new Dec(baseFee * defaultBaseFeeMultiplier)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -506,7 +507,7 @@ describe("getGasFeeAmount", () => {
       })
     )[0];
 
-    const expectedGasAmount = new Dec(baseFee * gasMultiplier)
+    const expectedGasAmount = new Dec(baseFee * defaultBaseFeeMultiplier)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -592,7 +593,7 @@ describe("getGasFeeAmount", () => {
       })
     )[0];
 
-    const expectedGasAmount = new Dec(baseFee * gasMultiplier)
+    const expectedGasAmount = new Dec(baseFee * defaultBaseFeeMultiplier)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -679,7 +680,7 @@ describe("getGasFeeAmount", () => {
       })
     )[0];
 
-    const expectedGasAmount = new Dec(baseFee * gasMultiplier)
+    const expectedGasAmount = new Dec(baseFee * defaultBaseFeeMultiplier)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -795,7 +796,7 @@ describe("getGasFeeAmount", () => {
     )[0];
 
     const expectedGasAmount = new Dec(baseFee)
-      .mul(new Dec(gasMultiplier))
+      .mul(new Dec(defaultBaseFeeMultiplier))
       .quo(new Dec(lowEnoughSpotPrice))
       .mul(new Dec(1.01))
       .mul(new Dec(gasLimit))
@@ -1053,7 +1054,6 @@ describe("getGasPriceByFeeDenom", () => {
   const chainId = "osmosis-1";
   const chainList = MockChains;
   const feeDenom = "uion";
-  const gasMultiplier = 1.5;
 
   it("should return the correct gas price with fee market module", async () => {
     const baseFee = 0.01;
@@ -1070,13 +1070,12 @@ describe("getGasPriceByFeeDenom", () => {
       chainId,
       chainList,
       feeDenom,
-      gasMultiplier,
     });
 
     const expectedGasPrice = new Dec(baseFee)
       .quo(new Dec(spotPrice))
       .mul(new Dec(1.01))
-      .mul(new Dec(gasMultiplier));
+      .mul(new Dec(defaultBaseFeeMultiplier));
 
     expect(result.gasPrice.toString()).toBe(expectedGasPrice.toString());
 
@@ -1103,7 +1102,6 @@ describe("getGasPriceByFeeDenom", () => {
       chainId,
       chainList: chainListWithoutFeeMarket,
       feeDenom: "uosmo",
-      gasMultiplier,
     });
 
     expect(result.gasPrice.toString()).toBe(defaultGasPrice.toString());
@@ -1125,7 +1123,6 @@ describe("getGasPriceByFeeDenom", () => {
       chainId,
       chainList: chainListWithoutFeeMarket,
       feeDenom,
-      gasMultiplier,
     });
 
     expect(result.gasPrice.toString()).toBe(new Dec(0.004).toString());
@@ -1145,7 +1142,6 @@ describe("getGasPriceByFeeDenom", () => {
         chainId,
         chainList: chainListWithoutFeeMarket,
         feeDenom,
-        gasMultiplier,
       })
     ).rejects.toThrow("Fee token not found: uion");
 
@@ -1159,7 +1155,6 @@ describe("getGasPriceByFeeDenom", () => {
         chainId: "non-existent-chain",
         chainList,
         feeDenom,
-        gasMultiplier,
       })
     ).rejects.toThrow("Chain not found: non-existent-chain");
 
@@ -1182,7 +1177,6 @@ describe("getGasPriceByFeeDenom", () => {
         chainId,
         chainList,
         feeDenom,
-        gasMultiplier,
       })
     ).rejects.toThrow(`Failed to fetch spot price for fee token ${feeDenom}.`);
 
@@ -1207,7 +1201,6 @@ describe("getGasPriceByFeeDenom", () => {
         chainId,
         chainList,
         feeDenom,
-        gasMultiplier,
       })
     ).rejects.toThrow("Invalid base fee: invalid");
   });
@@ -1243,15 +1236,15 @@ describe("getDefaultGasPrice", () => {
       base_fee: baseFee.toString(),
     } as Awaited<ReturnType<typeof queryFeesBaseGasPrice>>);
 
-    const gasMultiplier = 1.5;
+    const baseFeeMultiplier = 1.65;
     const result = await getDefaultGasPrice({
       chainId,
       chainList,
-      gasMultiplier,
+      baseFeeMultiplier: baseFeeMultiplier,
     });
 
     expect(result.gasPrice.toString()).toBe(
-      new Dec(baseFee * gasMultiplier).toString()
+      new Dec(baseFee * baseFeeMultiplier).toString()
     );
     expect(result.feeDenom).toBe("uosmo");
 

diff --git a/packages/tx/src/gas.ts b/packages/tx/src/gas.ts
@@ -45,6 +45,11 @@ export type QuoteStdFee = {
   }[];
 };
 
+// We have experienced instabilities with the base fee query. To avoid debugging its stability
+// for the sake of time, we have opted in to increase the base fee multiplier to 1.65 from the original
+// value of 1.5 which was equal to the gas multiplier. The update was applied on 2024-10-27.
+export const defaultBaseFeeMultiplier = 1.65;
+
 /** Tx body portions relevant for simulation */
 export type SimBody = Partial<
   Pick<
@@ -114,7 +119,7 @@ export async function estimateGasFee({
     const { feeDenom, gasPrice } = await getDefaultGasPrice({
       chainId,
       chainList,
-      gasMultiplier,
+      baseFeeMultiplier: defaultBaseFeeMultiplier,
     });
     return {
       gas: gasLimit,
@@ -493,7 +498,6 @@ export async function getGasPriceByFeeDenom({
   chainId,
   chainList,
   feeDenom,
-  gasMultiplier = 1.5,
   defaultGasPrice = 0.025,
 }: {
   chainId: string;
@@ -513,7 +517,7 @@ export async function getGasPriceByFeeDenom({
   const defaultFee = await getDefaultGasPrice({
     chainId,
     chainList,
-    gasMultiplier,
+    baseFeeMultiplier: defaultBaseFeeMultiplier,
   });
 
   if (defaultFee.feeDenom === feeDenom) {
@@ -557,13 +561,13 @@ export async function getGasPriceByFeeDenom({
 export async function getDefaultGasPrice({
   chainId,
   chainList,
-  gasMultiplier = 1.5,
+  baseFeeMultiplier = defaultBaseFeeMultiplier,
   defaultGasPrice = 0.025,
 }: {
   chainId: string;
   chainList: ChainWithFeatures[];
-  gasMultiplier?: number;
   defaultGasPrice?: number;
+  baseFeeMultiplier?: number;
 }) {
   const chain = chainList.find(({ chain_id }) => chain_id === chainId);
   if (!chain) throw new Error("Chain not found: " + chainId);
@@ -586,7 +590,7 @@ export async function getDefaultGasPrice({
 
     feeDenom = baseDenom;
     // Add slippage multiplier to account for shifting gas prices in gas market
-    gasPrice = baseFeePrice.mul(new Dec(gasMultiplier));
+    gasPrice = baseFeePrice.mul(new Dec(baseFeeMultiplier));
   } else {
     // registry