FAQs
What is EIP-1559?
EIP-1559 will change Ethereum’s market mechanisms to pay for transaction fees. Fundamentally, EIP-1559 gets rid of the first-price auction and replacement it with a fixed-price. The significance of this change is that people submitting transactions won’t have to guess as much about how much gas is required, as there will be an explicitly ‘base fee’ to be included in the next block. For users or applications that want to prioritize their transaction, they can add a “tip” to pay a miner. You can read about EIP-1559 and how will it change Ethereum in more detail here.
Will EIP-1559 make ETH deflationary?
EIP-1559 burns the ETH spent as base fee of the transaction fee. That ETH is remove from the supply. Under EIP-1559, ETH becomes scarcer, as all transactions on Ethereum burn some amount of ETH.

Modeling exactly how deflationary EIP-1559 is difficult since you have to project variables like expected transactions, and, even harder to predict, expected network congestion. In theory, the more transactions that occur, the more deflationary pressure that the burning of the base fee will have on the overall Ethereum supply. The ETH supply may deflate more or inflate more at different times based upon the number of transactions that happen on the network

After the merge to Proof of Stake, Justin Drake's model estimates as a “best guess” that 1,000 ETH will be issued per day, and 6,000 ETH would be burn. Assuming more validators join and the staking APR is 6.7%, the annual supply change will be -1.6million ETH, reducing the annual supply rate by 1.4%.

Despite growing awareness of MEV and potential EIPs to bring more transparency, we can expect arbitrage opportunities to get more sophisticated as institutional financial traders use DeFi protocols. This could mean that there may end up being much more spent on tips per block than the base fee. Zhu Su and Hasu actually predict that less than half of today's fees could be burn by EIP 1559.
How much ETH has been burn?
You can track that here. (http://watchtheburn.com/)

What changes for me as a user with EIP-1559?
The idea is to make gas fees more or less transparent for the user. Therefore, wallets will be able to have better estimates and make transaction fees more predictable. They will not have to rely much on external oracles since the base fee managed by the protocol itself. There will be additional user experience benefits like automating the fee bidding mechanism, thus reducing delays in transaction confirmation.
When does this change roll out?
EIP-1559 will be live on Ethereum mainnet on August 5, which is when we will start rolling out this change. Currently it is available in Ropsten, Rinkeby, Goerli networks.
Fees
Will EIP-1559 make gas cheaper?
No, this is not the intent of the EIP. As a side effect of a more predictable base fee, EIP-1559 may lead to some reduction in gas prices if we assume that fee predictability means users will overpay for gas less frequently. With EIP-1559, the base fee will increase and decrease by 12.5% after blocks are more than 50% full. For example, if a block is 100% full the base fee increases by 12.5%; if it is 50% full the base fee will be the same; if it is 0% full the base fee would decrease by 12.5%.

The ongoing movement of applications to rollups and Layer 2s will greatly reduce fees.
How do I set the right gas fee?
Antex will provide you with three options when setting the gas fee:

• High: This is the best option for Swaps or other time sensitive transactions. If a Swap takes too long to process, it will often fail and you may lose funds.

• Medium: This is good for sending assets, withdrawing assets, or other non-time sensitive but important transactions.

• Low: A lower gas fee should only selected for transactions where processing time is less important. With a lower fee, it can be hard to predict when (or if) your transaction will be successful.
Should I edit the gas fee?
You will be able to choose between a high, medium or low gas fees. See question above for what these mean. Additionally, you can edit your gas limit, priority fee and max fee in the “Advanced Options” setting. This will override the setting of low, medium or high that was “recommended" for you by Antex.
How much faster will my transaction go through on EIP-1559?
This remains unknown for now. The prediction is the transactions will go through faster because of the gas fee predictability.
How is the gas fee calculated?
Gas fees determined by how full the block is. EIP-1559 establishes the market rate for transaction inclusion and allows Ethereum to have double the blockspace (by increasing max gas limit per block from 12.5M to 25M). It then targets blocks is 50% full.

When the network is > 50% utilization, the base fee is increased
When the network is < 50% utilization, the base fee is decreased

Over time, Ethereum’s block size will average out to be the same exact size, but this extra capacity allows for flexibility with transaction inclusion. In essence, it will eliminate the extra step in setting the gas price to make a transaction.
Are Antex gas fees higher than other else?
No, Antex uses a compilation of gas estimation oracles similar to how other wallets estimate gas price. We are confident we can offer competitive gas estimations.
How much will the estimated gas fee differ from what I will actually pay?
The estimated gas fee is a range. The upper bound of this range is the maximum the user will be paying for a transaction. After the launch of EIP-1559, we should be able to analyze our transaction inclusion rate from our gas estimation range.
Should I consider a different approach for setting gas fees for Swaps versal other transactions?
Antex will have three options to set a gas fee: high, medium and low (more details in FAQ above “How do I set the right gas fee?”) and will preselect the fee we think is relevant to your transaction type. You can change this if you prefer, but we provide the best recommendation. For time - sensitive transactions as Swaps, we recommend and pre-select a “high” gas fee.
What does base fee/max, fee/priority, fee/etc. mean?
Refer to our Glossary for detailed definitions about (new) terms.

Since I am setting a “max priority fee,” how can I see the amount that I actually pay for a transaction?
You can view the transaction activity for the estimated gas fee paid, or view the “effectiveGasPrice” in the transaction receipt on block explorers like Etherscan.
Can I transact without a priority fee (“miner’s tip”)?
Yes, you can but there is the possibility that other transactions (that do include a priority fee) will prioritized as miners are incentivized to include transactions with a priority fee.
Will typical users be selecting the “tip” amount or will that be part of an overall fee preselected for users?
The “tip” will be included as the overall “gas fee” that users see to submit a transaction. You will also be able to “edit gas fee” to increase or decrease the “tip” which is called a “priority fee.”
Where can someone see what he/she paid for a tip? Will block explorers like Etherscan now show this information?
Most of the tooling will updated accordingly to show the new information related to the EIP. There will now be an “effectiveGasPrice” in the transaction receipt, which returns the price paid post-execution by the transaction (i.e. base fee + priority fee).
Integrations
How does EIP-1559 work with Trezor/Ledger integration on Antex?
Trezor and Ledger do not yet support EIP-1559 so Antex will fall back to pre EIP-1559 gas controls.
Is the implementation on a wallet or Dapp level?
In other words, will all my Dapp connections show the new interface in the wallet, or only the Dapps who have adopted EIP-1559?
If the Dapps have not switched over to the new EIP-1559 fields, Antex will detect this and use gasPrice as maxFeePerGas. This means the user will potentially overpay for their transaction.
User Experience
How else might EIP-1559 change wallet user experience?
This will differ per wallet. The idea is to make fees based on block demand more transparent for the user. Wallets like Antex will be able to have better estimates, and will not have to rely much on external oracles since the base fee is managed by the protocol itself. Additionally, when using Antex, you can decide between high, medium or low gas fees. Although the recommended type will be pre-selected, the user can change this before confirming the transaction. Additionally, users can change the max fee, max priority fee, and Gwei in the “Advanced” settings. Doing this will override the initial high, medium, or low settings.
Is the user experience going to be different during times of network congestion?
During periods of high network congestion, the base fee will adjust by 12.5% depending how much demand surpasses the ideal gas limit per block until that demand abates. Instead of a first-price auction, users will have a better sense of how congested the network is by how high the base fee is. If it is too congested, the user can either pay that price or not, like they would buy an item at a store. Alternatively, they submit a lower fee and wait for the price to go down in the future.
FAQs for developer
What changes for me as a developer with EIP-1559?
We recommend both Dapp developers and networks to switch to EIP-1559 fields and block headers respectively as soon as the London fork happens. If not, the legacy gasPrice will used as maxFeePerGas, which means that the user will potentially overpay for their transaction.
How do I implement EIP-1559 with Antex for my Dapp?
You can read the EIP-1559 specifications and look through the EIP-1559 sections from Ethereum's JSON-RPC specs.
Is the implementation on a user or Dapp level? In other words, if I implement EIP-1559, all my Dapp will users see the new gas fee settings, or only the users who have agreed to adopt EIP-1559?
It is both. The user interfaces with the Ethereum network through a client (wallet). Users can also interface with the network through a Dapp. In the case that the dapp has not switched over to the new EIP-1559 fields, Antex will detect this and show pre-1559 gas estimation UIs.
Who estimates gas estimates, the dapp or Antex?
Antex.
Are all the client teams ready for EIP-1559?
A: Yes, client specifications have frozen. The London Hard Fork release schedule is as follows:
London Hard Fork release schedule per network
London Hard Fork release schedule per network
Are there any potential risks for Dapps on Ethereum?
A: All change is risky, but the Ethereum community has a record of accomplishment of strong software development and coordination. There are some potential risks EIP-1559 presents to network actors that are sensitive to timing, such as oracles. Oracles usually provide the pricing information needed to support various actors in the DeFi ecosystem. For example, Compound needs to know the valuation (i.e. price x number of assets) of a user's collateral in order to determine if their position needs to be liquidated or not. The valuation of these assets have to constantly updated, and Compound relies on oracles to update this information. More information about this can be found in this article.
What are the changes my project may need to consider for the London Hard Fork?
A: The technical changes for EIP-1559 (and EIP-3198) that may impact your project include a new block format, a new transaction format, the new values for selecting a gas price, a new JSON RPC call and changed behavior for several JSON RPC calls. For details about these changes, refer to this Infura blog post.
Glossary
EIP-1559 (Ethereum Improvement Protocol 1559)
Vitalik Buterin initially created this proposal with the intent of reducing the cost per transaction by not paying the miners the gas fee that Ethereum users pay by bidding for the gas fee. Ethereum users will now have a fairer accurate estimate of the average gas price of a transaction based on the network's internal averages. A side effect of a more predictable base fee may lead to some reduction in gas prices if we assume that fee predictability means users will overpay for gas less frequently. For more information about how EIP-1559 will change Ethereum, see here.
Gas fee:
Gas refers to the transaction fee on the Ethereum blockchain. It is what users pay to get their transaction validated, or completed.
Base fee:
Generated by the protocol. Represents the minimum gasUsed multiplier required for a transaction to be included in a block (i.e. for a transaction to be completed). This is the part of the transaction fee that be burnt.

Max Priority fee - i.e. Priority fee or the miner’s tip
Antex will initially set this amount based on the previous block’s history. However, users will allowed to editing this amount within the advanced settings. It is added to the transaction and represents the part of the transaction fee that goes to the miner.
Max fee:
Antex will initially set this amount based on the previous block’s history. However, users will allowed editing this amount within the advanced settings. It represents the maximum amount that a user is willing to pay for their transaction (inclusive of base fee and max priority fee). The difference between max fee per gas and base fee + max priority fee is “refunded” to the user.
Gas limit:
The maximum amount of gas units that the transaction may be able to consume.
What changes for me as a developer with EIP-1559?
We recommend both Dapp developers and networks to switch to EIP-1559 fields and block headers respectively as soon as the London fork happens. If not, the legacy gasPrice will used as maxFeePerGas, which means that the user will potentially overpay for their transaction.
Gwei:
Gwei is a unit of ether, the smallest denomination, which stands for gigawei (or 1,000,000,000). Gwei is used for gas fees; or rather, payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.
Slippage:
Slippage is the expected percentage difference between a quoted and an executed price.
Sources:
  1. https://ethgasstation.info/blog/gwei/
  2. https://www.investopedia.com/terms/g/gwei-ethereum.asp