Thread by @JJangBang429

Really hoping the wave 1 mint window for @OthersideMeta land is long (6-12 hours+) or gas will likely be bad.

Had some thoughts that I wanted to share on the gas for this drop. (Disclaimer: I am not a dev and just a degen mintoor. Please point out any mistakes/incorrect info)🧵

A few things you need to know about gas before reading further:

1. The formula for gas cost is :
Txn fee = Gas used * Gas fee

Ever since the london fork, gas fee has been split into two fees - priority fee and base fee.

Txn fee = (base fee + priority fee) * gas used

2. The max amount of gas units is ~30 million per block.

3.. Base fee is determined by the blockchain and can only increase by a maximum of 12.5% per block.

Screenshot from ethereum.org/en/developers/…

In my experience, the meta on gas wars change as more people enter the space but eventually find an equilibrium until the meta changes.

Currently, total fee tends to be ~constant as base and prio adjust to meet a total fee plateau (orange line) that is determined by the market.

Here is a gas study I did on a recent elongated gas war - vayner sports pass. Most follow this trend where priority fee spikes then tapers off while base fee steadily rises. You can see where the plateau of total fee is (orange). [Note, red dots = min. priority to enter block]

Assuming ~200k gas units per mint and 55k total supply, (credit to @0xCrumbs) it would take at least 80 minutes to mint out Otherdeeds.

This means it would take ~404 blocks to mint out Otherdeeds with absolutely no other transactions happening.

https://twitter.com/0xCrumbs/status/1520439622769258499?s=20&t=97mOwJZGkXL4ZLoF4yPSQw

Yuga has been pretty quiet about how many wallets are actually KYC'd and how many they expect to mint in wave 1.

I think most agree that lands will either mint out in wave 1 or have very little for wave 2.

Some even think there won't be enough for everyone for wave 1.

Because of this and because yuga has not said how long wave 1 would be, I think it's fair to assume that most will not wait to mint their 1-2 Otherdeeds.

This will lead to base fee rising continuously throughout the mint.

Assuming blocks are continuously filled from the get-go, it will take ~8 minutes to reach 4k gwei base fee which is ~.78ETH in base fee alone (assuming 200k gas units).

Since, Everyone and their mother thinks this drop will be +EV (me too), the gas plateau will likely be high.

I am concerned about the amount of gas that is going to be burned but hopefully I am missing something or Yuga comes out with a way to combat the ever-rising base fee (such as an announced long mint window for wave 1).

Nevertheless, I am excited for this drop and hope that was helpful/informative to some of you. Good luck to all! #OthersideMeta