Txfees

The txfees modules allows nodes to easily support many tokens for usage as txfees, while letting node operators only specify their tx fee parameters for a single "base" asset. This is done by having this module maintain an allow-list of token denoms which can be used as tx fees, each with some associated metadata. Then this metadata is used in tandem with a "Spot Price Calculator" provided to the module, to convert the provided tx fees into their equivalent value in the base denomination. Each fee token is associated with a pool ID, and the spot price is calculated through the poolmanager's RouteCalculateSpotPrice, which abstracts over the underlying pool type rather than depending on the GAMM keeper directly.

State Changes

• Adds a whitelist of tokens that can be used as fees on the chain.
  • Any token not on this list cannot be provided as a tx fee.
  • Any fee that is paid with a token that is on this list but is not the base denom will be collected in a separate module account to be batched and swapped into the base denom at the end of each epoch.
• Fee tokens are added or removed with the MsgSetFeeTokens message, which is gated to the addresses in the whitelisted_fee_token_setters parameter.

Parameters

Parameter	Purpose
whitelisted_fee_token_setters	Addresses authorized to add or remove fee tokens with MsgSetFeeTokens
fee_swap_intermediary_denom_list	Denoms that may be used as intermediate hops when accumulated non-native fees are swapped into the base denom

Local Mempool Filters Added

• If you specify a min-tx-fee in the $BASEDENOM then
  • Your node will allow any tx w/ tx fee in the whitelist of fees, and a sufficient osmo-equivalent price to enter your mempool
  • The osmo-equivalent price for determining sufficiency is rechecked after every block. (During the mempools RecheckTx)
    • This rechecking is a deliberate tradeoff: it allows someone who manipulates price for one block to flush txs using that asset as fee from most of the networks' mempools.
    • The simple alternative is only check fee equivalency at a txs entry into the mempool, which allows someone to manipulate price down to have many txs enter the chain at low cost.
    • The former concern isn't very worrisome as long as some nodes have 0 min tx fees.
• A separate min-gas-fee can be set on every node for arbitrage txs. Methods of detecting an arb tx atm
  • does start token of a swap = final token of swap (definitionally correct)
  • does it have multiple swap messages, with different tx ins. If so, we assume its an arb.
    • This has false positives, but is intended to avoid the obvious solution of splitting an arb into multiple messages.
  • We record all denoms seen across all swaps, and see if any duplicates.
  • Contains both JoinPool and ExitPool messages in one tx.
    • Has some false positives.
  • These false positives seem like they primarily will get hit during batching of many distinct operations, not really in one atomic action.
• A max wanted gas per any tx can be set to filter out attack txes.
• If tx wanted gas > than predefined threshold of 1M, then separate 'min-gas-price-for-high-gas-tx' option used to calculate min gas price.

Base fee adjustment (EIP-1559 style)

The module maintains a dynamic base fee (the minimum gas price to enter a block) that adjusts each block with congestion. The adjustment is:

baseFeeMultiplier = 1 + (gasUsed - targetGas) / targetGas * maxChangeRate
newBaseFee = curBaseFee * baseFeeMultiplier

• gasUsed: total gas used in the block.
• targetGas: target gas per block, 187,500,000 (0.625 of the block gas limit). Below target, the base fee falls; above it, the base fee rises.
• maxChangeRate: the maximum per-block change, 1/10.

The result is clamped to a fixed range, MinBaseFee (0.03) to MaxBaseFee (10), so it can neither fall to zero nor spike without bound.

Query the current base fee with osmosisd query txfees base-fee, or over LCD at /osmosis/txfees/v1beta1/cur_eip_base_fee. For the integrator view (setting gas prices against it), see Fees and Gas.

Queries

base-denom

• Query the base fee denom

denom-pool-id

• Query the pool id associated with a specific whitelisted fee token

denom-spot-price

• The DenomSpotPrice query returns the registered pool ID and OSMO spot price for a fee-token denom over gRPC or LCD at /osmosis/txfees/v1beta1/spot_price_by_denom?denom={denom}. This query does not currently have an osmosisd CLI command.

fee-tokens

• Query the list of non-basedenom fee tokens and their associated pool ids

base-fee

• Query the current EIP-1559-style base fee