The sip proposes to put in place a dynamic gas fee module, which is able to adjust the minKeeperFee, within bounds set by governance. Note that the updateMinKeeperFee function is a publically callable function that doesn't require any endorsed address for execution.
The dynamic gas fee module is a standard Gnosis Safe Module that is able to alter the minKeeperFee in our PerpsV2MarketSettings within bounds specified in the contract and configurable via governance:
costOfExecutionGross := (gasPriceL2 * gasUnitsL2 + l1BaseFee * (gasUnitsL1+overhead) * feeScalarL1) * ETH/USDprofitMargin := max(profitMarginUSD; costOfExecution * profitMarginPercent )costOfExecutionNet := costOfExecutionGross + profitMarginminKeeperFee := min( max(costOfExecutionNet, minKeeperFeeLowerBound) ; minKeeperFeeUpperBound)ETH/USD price is obtained with the on-chain chainlink ETH oracleminKeeperFee are incoporated for safety purposesoverhead, gasPriceL2, gasPriceL1 and feeScalarL1 can be all queried on-chain with the help of the gasPriceOracleThe main motivation is the recent surge and volatility in gas prices which has resulted in all the decentralized keepers to be outpriced and the need to update the minKeeperFee in order to bolster the network of decentralized keepers that ensure that orders are executed without delay.
Note that the spartan council can enable/disable the Dynamic Gas Fee module by simply instructing pdao to remove the module's ability to update the minKeeperFee and this can be triggered out of the box with the existing gnosis safe.
This is a getter public function that returns computed gas price given on-chain variables
\nThis is a publically callable function that updates the minKeeperFee in PerpsV2MarketSettings
This is a getter public function that returns the current configurations specified under the Configurable Values section.
\nThis can only be called by the owner (pdao on optimism), whereby the variables specified under the Configurable Values section, can be updated.
\nprofitMarginPercent: 20%profitmarginUSD: 2 sUSDminKeeperFeeUpperBound: 10 sUSDminKeeperFeeLowerBound: 2 sUSDgasUnitsL1 : 26,900 GASgasUnitsL2 : 1.2e6 GASl1BaseFee : 92 GWEI/GAS (found under gasPriceOracle in wei)l2GasPrice : 0.001 GWEI/GAS (found under gasPriceOracle in wei)scalar: 1 (aka dynamic_overhead, found under gasPriceOracle after incorporating the decimal adjustment found in the same contract)overhead: 2,100 GAS (found under gasPriceOracle)ETH/USD: 1,869$minKeeperFee Computations:costOfExecutionGrossGwei = (0.001 * 1.2e6 + (26,900 + 2,100) * 92 * 1) = 2,669,200 GWEIcostOfExecutionGrossETH = 2,669,200 / 1e9 = 0.0026692 ETHcostOfExecutionGrossUSD = 0.0026692 ETH * 1,869 USD / ETH = 4.988 sUSD =~ 5 sUSDprofitMargin = max(2 ; 20% * 5) = 2 sUSDcostOfExecutionNet = 2+5 = 7 sUSDminKeeperFee = max(min(7;10) ; 2) = 7 sUSDminKeeperFeeLowerBound being the lower bound on the minKeeperFee that can be updatedminKeeperFeeUpperBound being the upper bound on the minKeeperFee that can be updatedgasUnitsL1 and gasUnitsL2 being the number of gas units required to execute a pending offchain delayed orderprofitMarginUSD being a profit margin in sUSD, applied on the cost of executionprofitMarginPercent being a keeper profit margin in percentage, applied on the cost of executionCopyright and related rights waived via CC0.
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