feat: fee estimation with custom/default fn (#369)

* feat: fee estimation with custom/default fn

* fix: clippy and percentage calc fix

* calculate priority fee only if base fee above threshold

* chore: some comments

* fix: use legacy tx for ganache

* test: test a few cases for fee estimation using utils

ethers-contract/tests/contract.rs

@@ -399,6 +399,7 @@ mod eth_tests {
         let _receipt = contract
             .method::<_, H256>("setValue", "hi".to_owned())
             .unwrap()
+            .legacy()
             .send()
             .await
             .unwrap()

ethers-core/src/utils/mod.rs

@@ -36,6 +36,7 @@ pub use rlp;
 use crate::types::{Address, Bytes, U256};
 use k256::{ecdsa::SigningKey, EncodedPoint as K256PublicKey};
 use std::convert::TryInto;
+use std::ops::Neg;
 use thiserror::Error;
 
 #[derive(Debug, Error)]
@@ -47,6 +48,19 @@ pub enum FormatBytes32StringError {
 /// 1 Ether = 1e18 Wei == 0x0de0b6b3a7640000 Wei
 pub const WEI_IN_ETHER: U256 = U256([0x0de0b6b3a7640000, 0x0, 0x0, 0x0]);
 
+/// The number of blocks from the past for which the fee rewards are fetched for fee estimation.
+pub const EIP1559_FEE_ESTIMATION_PAST_BLOCKS: u64 = 10;
+/// The default percentile of gas premiums that are fetched for fee estimation.
+pub const EIP1559_FEE_ESTIMATION_REWARD_PERCENTILE: f64 = 5.0;
+/// The default max priority fee per gas, used in case the base fee is within a threshold.
+pub const EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE: u64 = 3_000_000_000;
+/// The threshold for base fee below which we use the default priority fee, and beyond which we
+/// estimate an appropriate value for priority fee.
+pub const EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER: u64 = 100_000_000_000;
+/// The threshold max change/difference (in %) at which we will ignore the fee history values
+/// under it.
+pub const EIP1559_FEE_ESTIMATION_THRESHOLD_MAX_CHANGE: i64 = 200;
+
 /// Format the output for the user which prefer to see values
 /// in ether (instead of wei)
 ///
@@ -187,6 +201,92 @@ pub fn parse_bytes32_string(bytes: &[u8; 32]) -> Result<&str, std::str::Utf8Erro
     std::str::from_utf8(&bytes[..length])
 }
 
+/// The default EIP-1559 fee estimator which is based on the work by [MyCrypto](https://github.com/MyCryptoHQ/MyCrypto/blob/master/src/services/ApiService/Gas/eip1559.ts)
+pub fn eip1559_default_estimator(base_fee_per_gas: U256, rewards: Vec<Vec<U256>>) -> (U256, U256) {
+    let max_priority_fee_per_gas =
+        if base_fee_per_gas < U256::from(EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER) {
+            U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE)
+        } else {
+            std::cmp::max(
+                estimate_priority_fee(rewards),
+                U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE),
+            )
+        };
+    let potential_max_fee = base_fee_surged(base_fee_per_gas);
+    let max_fee_per_gas = if max_priority_fee_per_gas > potential_max_fee {
+        max_priority_fee_per_gas + potential_max_fee
+    } else {
+        potential_max_fee
+    };
+    (max_fee_per_gas, max_priority_fee_per_gas)
+}
+
+fn estimate_priority_fee(rewards: Vec<Vec<U256>>) -> U256 {
+    let mut rewards: Vec<U256> = rewards
+        .iter()
+        .map(|r| r[0])
+        .filter(|r| *r > U256::zero())
+        .collect();
+    if rewards.is_empty() {
+        return U256::zero();
+    }
+    if rewards.len() == 1 {
+        return rewards[0];
+    }
+    // Sort the rewards as we will eventually take the median.
+    rewards.sort();
+
+    // A copy of the same vector is created for convenience to calculate percentage change
+    // between subsequent fee values.
+    let mut rewards_copy = rewards.clone();
+    rewards_copy.rotate_left(1);
+
+    let mut percentage_change: Vec<i64> = rewards
+        .iter()
+        .zip(rewards_copy.iter())
+        .map(|(a, b)| {
+            if b > a {
+                ((b - a).low_u32() as i64 * 100) / (a.low_u32() as i64)
+            } else {
+                (((a - b).low_u32() as i64 * 100) / (a.low_u32() as i64)).neg()
+            }
+        })
+        .collect();
+    percentage_change.pop();
+
+    // Fetch the max of the percentage change, and that element's index.
+    let max_change = percentage_change.iter().max().unwrap();
+    let max_change_index = percentage_change
+        .iter()
+        .position(|&c| c == *max_change)
+        .unwrap();
+
+    // If we encountered a big change in fees at a certain position, then consider only
+    // the values >= it.
+    let values = if *max_change >= EIP1559_FEE_ESTIMATION_THRESHOLD_MAX_CHANGE
+        && (max_change_index >= (rewards.len() / 2))
+    {
+        rewards[max_change_index..].to_vec()
+    } else {
+        rewards
+    };
+
+    // Return the median.
+    values[values.len() / 2]
+}
+
+fn base_fee_surged(base_fee_per_gas: U256) -> U256 {
+    if base_fee_per_gas <= U256::from(40_000_000_000u64) {
+        base_fee_per_gas * 2
+    } else if base_fee_per_gas <= U256::from(100_000_000_000u64) {
+        base_fee_per_gas * 16 / 10
+    } else if base_fee_per_gas <= U256::from(200_000_000_000u64) {
+        base_fee_per_gas * 14 / 10
+    } else {
+        base_fee_per_gas * 12 / 10
+    }
+}
+
 /// A bit of hack to find an unused TCP port.
 ///
 /// Does not guarantee that the given port is unused after the function exists, just that it was
@@ -451,4 +551,33 @@ mod tests {
             FormatBytes32StringError::TextTooLong
         ));
     }
+
+    #[test]
+    fn test_eip1559_default_estimator() {
+        // If the base fee is below the triggering base fee, we should get the default priority fee
+        // with the base fee surged.
+        let base_fee_per_gas = U256::from(EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER) - 1;
+        let rewards: Vec<Vec<U256>> = vec![vec![]];
+        let (base_fee, priority_fee) = eip1559_default_estimator(base_fee_per_gas, rewards);
+        assert_eq!(
+            priority_fee,
+            U256::from(EIP1559_FEE_ESTIMATION_DEFAULT_PRIORITY_FEE)
+        );
+        assert_eq!(base_fee, base_fee_surged(base_fee_per_gas));
+
+        // If the base fee is above the triggering base fee, we calculate the priority fee using
+        // the fee history (rewards).
+        let base_fee_per_gas = U256::from(EIP1559_FEE_ESTIMATION_PRIORITY_FEE_TRIGGER) + 1;
+        let rewards: Vec<Vec<U256>> = vec![
+            vec![100_000_000_000u64.into()],
+            vec![105_000_000_000u64.into()],
+            vec![102_000_000_000u64.into()],
+        ]; // say, last 3 blocks
+        let (base_fee, priority_fee) = eip1559_default_estimator(base_fee_per_gas, rewards.clone());
+        assert_eq!(base_fee, base_fee_surged(base_fee_per_gas));
+        assert_eq!(priority_fee, estimate_priority_fee(rewards.clone()));
+
+        // The median should be taken because none of the changes are big enough to ignore values.
+        assert_eq!(estimate_priority_fee(rewards), 102_000_000_000u64.into());
+    }
 }

ethers-middleware/src/gas_oracle/eth_gas_station.rs

@@ -106,4 +106,8 @@ impl GasOracle for EthGasStation {
 
         Ok(gas_price)
     }
+
+    async fn estimate_eip1559_fees(&self) -> Result<(U256, U256), GasOracleError> {
+        Err(GasOracleError::Eip1559EstimationNotSupported)
+    }
 }

ethers-middleware/src/gas_oracle/etherchain.rs

@@ -77,4 +77,8 @@ impl GasOracle for Etherchain {
 
         Ok(gas_price)
     }
+
+    async fn estimate_eip1559_fees(&self) -> Result<(U256, U256), GasOracleError> {
+        Err(GasOracleError::Eip1559EstimationNotSupported)
+    }
 }

ethers-middleware/src/gas_oracle/etherscan.rs

@@ -108,4 +108,8 @@ impl GasOracle for Etherscan {
             _ => Err(GasOracleError::GasCategoryNotSupported),
         }
     }
+
+    async fn estimate_eip1559_fees(&self) -> Result<(U256, U256), GasOracleError> {
+        Err(GasOracleError::Eip1559EstimationNotSupported)
+    }
 }

ethers-middleware/src/gas_oracle/gas_now.rs

@@ -80,4 +80,8 @@ impl GasOracle for GasNow {
 
         Ok(gas_price)
     }
+
+    async fn estimate_eip1559_fees(&self) -> Result<(U256, U256), GasOracleError> {
+        Err(GasOracleError::Eip1559EstimationNotSupported)
+    }
 }

ethers-middleware/src/gas_oracle/middleware.rs

@@ -59,6 +59,13 @@ where
         Ok(self.gas_oracle.fetch().await?)
     }
 
+    async fn estimate_eip1559_fees(
+        &self,
+        _: Option<fn(U256, Vec<Vec<U256>>) -> (U256, U256)>,
+    ) -> Result<(U256, U256), Self::Error> {
+        Ok(self.gas_oracle.estimate_eip1559_fees().await?)
+    }
+
     async fn send_transaction<T: Into<TypedTransaction> + Send + Sync>(
         &self,
         tx: T,
@@ -77,8 +84,17 @@ where
                     inner.tx.gas_price = Some(self.get_gas_price().await?);
                 }
             }
-            TypedTransaction::Eip1559(_) => {
+            TypedTransaction::Eip1559(ref mut inner) => {
-                return Err(MiddlewareError::UnsupportedTxType);
+                if inner.max_priority_fee_per_gas.is_none() || inner.max_fee_per_gas.is_none() {
+                    let (max_fee_per_gas, max_priority_fee_per_gas) =
+                        self.estimate_eip1559_fees(None).await?;
+                    if inner.max_priority_fee_per_gas.is_none() {
+                        inner.max_priority_fee_per_gas = Some(max_priority_fee_per_gas);
+                    }
+                    if inner.max_fee_per_gas.is_none() {
+                        inner.max_fee_per_gas = Some(max_fee_per_gas);
+                    }
+                }
             }
         };
         self.inner

ethers-middleware/src/gas_oracle/mod.rs

@@ -42,6 +42,9 @@ pub enum GasOracleError {
     /// supported by the gas oracle API
     #[error("gas category not supported")]
     GasCategoryNotSupported,
+
+    #[error("EIP-1559 gas estimation not supported")]
+    Eip1559EstimationNotSupported,
 }
 
 /// `GasOracle` is a trait that an underlying gas oracle needs to implement.
@@ -80,4 +83,6 @@ pub trait GasOracle: Send + Sync + std::fmt::Debug {
     /// # }
     /// ```
     async fn fetch(&self) -> Result<U256, GasOracleError>;
+
+    async fn estimate_eip1559_fees(&self) -> Result<(U256, U256), GasOracleError>;
 }

ethers-providers/src/lib.rs

@@ -265,15 +265,19 @@ pub trait Middleware: Sync + Send + Debug {
                     inner.from = self.default_sender();
                 }
 
-                let (max_priority_fee_per_gas, max_fee_per_gas, gas) = futures_util::try_join!(
+                let gas = maybe(inner.gas, self.estimate_gas(&tx_clone)).await?;
-                    // TODO: Replace with algorithms using eth_feeHistory
-                    maybe(inner.max_priority_fee_per_gas, self.get_gas_price()),
-                    maybe(inner.max_fee_per_gas, self.get_gas_price()),
-                    maybe(inner.gas, self.estimate_gas(&tx_clone)),
-                )?;
                 inner.gas = Some(gas);
-                inner.max_fee_per_gas = Some(max_fee_per_gas);
+
-                inner.max_priority_fee_per_gas = Some(max_priority_fee_per_gas);
+                if inner.max_fee_per_gas.is_none() || inner.max_priority_fee_per_gas.is_none() {
+                    let (max_fee_per_gas, max_priority_fee_per_gas) =
+                        self.estimate_eip1559_fees(None).await?;
+                    if inner.max_fee_per_gas.is_none() {
+                        inner.max_fee_per_gas = Some(max_fee_per_gas);
+                    }
+                    if inner.max_priority_fee_per_gas.is_none() {
+                        inner.max_priority_fee_per_gas = Some(max_priority_fee_per_gas);
+                    }
+                }
             }
         };
 
@@ -401,6 +405,16 @@ pub trait Middleware: Sync + Send + Debug {
         self.inner().get_gas_price().await.map_err(FromErr::from)
     }
 
+    async fn estimate_eip1559_fees(
+        &self,
+        estimator: Option<fn(U256, Vec<Vec<U256>>) -> (U256, U256)>,
+    ) -> Result<(U256, U256), Self::Error> {
+        self.inner()
+            .estimate_eip1559_fees(estimator)
+            .await
+            .map_err(FromErr::from)
+    }
+
     async fn get_accounts(&self) -> Result<Vec<Address>, Self::Error> {
         self.inner().get_accounts().await.map_err(FromErr::from)
     }

ethers-providers/src/provider.rs

@@ -261,6 +261,37 @@ impl<P: JsonRpcClient> Middleware for Provider<P> {
         self.request("eth_gasPrice", ()).await
     }
 
+    /// Gets a heuristic recommendation of max fee per gas and max priority fee per gas for
+    /// EIP-1559 compatible transactions.
+    async fn estimate_eip1559_fees(
+        &self,
+        estimator: Option<fn(U256, Vec<Vec<U256>>) -> (U256, U256)>,
+    ) -> Result<(U256, U256), Self::Error> {
+        let base_fee_per_gas = self
+            .get_block(BlockNumber::Latest)
+            .await?
+            .ok_or_else(|| ProviderError::CustomError("Latest block not found".into()))?
+            .base_fee_per_gas
+            .ok_or_else(|| ProviderError::CustomError("EIP-1559 not activated".into()))?;
+
+        let fee_history = self
+            .fee_history(
+                utils::EIP1559_FEE_ESTIMATION_PAST_BLOCKS,
+                BlockNumber::Latest,
+                &[utils::EIP1559_FEE_ESTIMATION_REWARD_PERCENTILE],
+            )
+            .await?;
+
+        // use the provided fee estimator function, or fallback to the default implementation.
+        let (max_fee_per_gas, max_priority_fee_per_gas) = if let Some(es) = estimator {
+            es(base_fee_per_gas, fee_history.reward)
+        } else {
+            utils::eip1559_default_estimator(base_fee_per_gas, fee_history.reward)
+        };
+
+        Ok((max_fee_per_gas, max_priority_fee_per_gas))
+    }
+
     /// Gets the accounts on the node
     async fn get_accounts(&self) -> Result<Vec<Address>, ProviderError> {
         self.request("eth_accounts", ()).await

ethers-providers/tests/provider.rs

@@ -199,6 +199,17 @@ mod eth_tests {
             .into();
         check_tx(&provider, tx, 2).await;
     }
+
+    #[tokio::test]
+    async fn eip1559_fee_estimation() {
+        let provider = Provider::<Http>::try_from(
+            "https://mainnet.infura.io/v3/c60b0bb42f8a4c6481ecd229eddaca27",
+        )
+        .unwrap();
+
+        let (_max_fee_per_gas, _max_priority_fee_per_gas) =
+            provider.estimate_eip1559_fees(None).await.unwrap();
+    }
 }
 
 #[cfg(feature = "celo")]