eip1559_base_fee.py

def calc_next_block_base_fee(gas_used, gas_limit, base_fee, elasticity_multiplier, max_change_denominator):
  # Calculate the target gas by dividing the gas limit by the elasticity multiplier.
    gas_target = gas_limit // elasticity_multiplier

    if gas_used == gas_target:
        return base_fee
    elif gas_used > gas_target:
        # Calculate the increase in base fee based on the formula defined by EIP-1559.
        return base_fee + max(
            1,
            base_fee * (gas_used - gas_target)
            // (gas_target * max_change_denominator)
        )
    else:
        # Calculate the decrease in base fee based on the formula defined by EIP-1559.
        return base_fee - (
            base_fee * (gas_target - gas_used)
            // (gas_target * max_change_denominator)
        )

def main():
    # ethereum mainnet
    # base fee increase
    base_fee = 1000
    gas_limit = 30_000_000
    gas_used = 30_000_000
    elasticity_multiplier = 2
    max_change_denominator = 8
    next_base_fee = calc_next_block_base_fee(gas_used, gas_limit, base_fee, elasticity_multiplier, max_change_denominator)
    print("ethereum, base fee max increase:", (next_base_fee-base_fee)/base_fee) # 0.125

    # base fee decrease
    base_fee = 1000
    gas_limit = 30_000_000
    gas_used = 0
    elasticity_multiplier = 2
    max_change_denominator = 8
    next_base_fee = calc_next_block_base_fee(gas_used, gas_limit, base_fee, elasticity_multiplier, max_change_denominator)
    print("ethereum, base fee max decrease:", (next_base_fee-base_fee)/base_fee) # -0.125

    # optimism
    # base fee increase
    base_fee = 1000
    gas_limit = 60_000_000
    gas_used = 60_000_000
    elasticity_multiplier = 6
    max_change_denominator = 50
    next_base_fee = calc_next_block_base_fee(gas_used, gas_limit, base_fee, elasticity_multiplier, max_change_denominator)
    print("optimism, base fee max increase:", (next_base_fee-base_fee)/base_fee) # 0.1

    # base fee decrease
    base_fee = 1000
    gas_limit = 60_000_000
    gas_used = 0
    elasticity_multiplier = 6
    max_change_denominator = 50
    next_base_fee = calc_next_block_base_fee(gas_used, gas_limit, base_fee, elasticity_multiplier, max_change_denominator)
    print("optimism, base fee max decrease:", (next_base_fee-base_fee)/base_fee) # -0.02

if __name__ == "__main__":
    main()