Solana Gas Fees

When trading on the Solana blockchain using BullX, you have several options to customize your gas settings to optimize transaction speed and success. Here’s a detailed explanation of each setting available:

Priority Fee

The priority fee is an additional fee paid to validators to prioritize your transaction. Setting a higher priority fee can help your transaction get confirmed faster, especially during times of network congestion.

  • PRIO: Enter the amount you are willing to pay as a priority fee. The default value is 0.01.

  • Rapid/Insane: These are preset options for quick adjustments. Rapid sets a moderate priority fee, while Insane sets a higher fee to ensure the fastest possible confirmation. Alternatively, you can choose Custom to enter a specific value.

Slippage Limit

Slippage is the difference between the expected price of a trade and the actual price at which the trade is executed. Setting a slippage limit helps to control this variation.

  • MAX %: Enter the maximum slippage percentage you are willing to accept. For example, setting 1000 means you are willing to accept up to 1000% slippage. Adjust this value based on your risk tolerance and market conditions.

MEV Only Mode

Maximal Extractable Value (MEV) is the maximum value that can be extracted from block production in excess of the standard block reward and gas fees, primarily through the reordering of transactions.

  • Disabled/Enabled: Enabling MEV Only Mode sends your transaction to Jito only, which can optimize it for maximal extractable value. When MEV Only Mode is off, transactions are sent both to Jito and block leaders.

Bribe

A bribe is an additional incentive offered to validators to prioritize your transaction.

  • BRIBE: Enter the amount you are willing to pay as a bribe. The default value is 0.01. This is an optional setting that can help speed up your transaction.

Instructions

  1. Using MEV Only Mode:

    • A higher bribe above 0.01 is recommended. This setting protects your transactions from sandwich attacks but may slow down transaction speed at times. To achieve more consistent transaction speed, increase the bribe amount. Note that you don't need a high priority fee for Jito; the bribe is more important.

  2. MEV Only Mode Off:

    • A lower bribe is fine since if the transaction doesn’t go through Jito, it will still be processed by other nodes. This setting may result in faster transaction speeds.

Example Configuration

Here’s an example configuration for optimal transaction speed:

  • Priority Fee (PRIO): 0.05

  • Slippage Limit (MAX %): 500

  • MEV Only Mode: Enabled

  • Bribe: 0.05

Adjust these settings according to your specific needs and the current network conditions to ensure the best performance of your transactions on Solana.

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