15h ago
So let's do this with @SonicLabs
Based on Sonicscan Data
Based on a wS price of $0.20 USD:
Max Gas Price: 3,897,762 Gwei ≈ 0.7796 USD
Min Gas Price: 50 Gwei ≈ 0.00001 USD
I only use Oct 10, but surprisingly, there were two days of high traffic <- why do you think?
there was 599,558.37 Million gas used
there were a total of 1,302,666 txns
Total Cost: $119,911.674 USD
Cost per Transaction: $0.09205 USD
So, assuming every single txn that day paid the worst, which is 100 percent not true
it was ~10 cents a TXN.
Now like on arbitrum, we know that many paid the min, here is less than a fraction of a fraction of the cent,
we can estimate that some people paid significantly higher gas than 0.09 usd for a txn.
0.9? <- this is believable
9.0? <- this i start to doubt
1d ago
So I had some convo recently where they said gas on @arbitrum spiked to 100 USD a txn during the Oct 10th dump.
So I decided to look at the numbers.
Based on Arbiscan data
Based on an ETH price of $4,000 USD:
Average Gas Price: 0.522 Gwei ≈ 0.0002088 cents USD
Max Gas Price: 41.45 Gwei ≈ 0.01658 cents USD
Min Gas Price: 0.01 Gwei ≈ 0.000004 cents USD
There was 595051.53 Million gas used
There were a total of 3.859M txns
Assuming every txn paid Max Gas Price, which is 100 percent not true
Total cost: ~$98,675,545 USD.
Cost per transaction: ~$25.57 USD
So I guess it's not too shabby. That said, if we allocate a lot of txn that day to the 0.000004 cents, then we might have seen txns at 100 USD plus during the Max gas Spike.
So.... the lesson is don't lever up to the point that you are desperate to rebalance your CDPs during turmoil.
Be conservative
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