Abstract
This proposal aims to increase the oracle update fees from 1 to 10 weis on 3 mainstream EVM chains: Arbitrum, Base and Optimism.
As a reminder, every time a protocol/user triggers a price update onchain, it needs to pay a fee to the oracle contract on that chain to make a successful price update.
Rationale
Part of the ongoing work to implement fees for Pyth Core across many EVM chains, this increase in oracle fees on testnet deployments of the Pyth oracle aims to help downstream protocols test their integration and handling of an increase in oracle fees to be paid before updating a price feed onchain.
10 weis as fees were decided as not only it enables the above testing but still remain cheap enough so it does not prevent testnet usage (testnet tokens can be hard to come by).
Implementation Plan
Proposal: https://proposals.pyth.network/?tab=proposals&proposal=C3PxMTLyWDjQ74XVE68KQCPg7C4DBcJ9pdAG7gHvCXhX
For verification of the proposal you must ensure that the fee’s (in wei) are matching the fees values specified above (10 weis). You must also ensure that the New Fee Exponent is matching the chain design.
- Arbitrum: follows a traditional EVM implementation meaning that tokens/contracts have 18 decimals available ; so to apply 0.000000000000000010 (last non-zero value is located on the 17th digit) as the fee you must move the exponent by 1 (18 - 17 = 1).
- Base: Similar as above
- Optimism: Similar as above