What are “max fee” and “priority fee” in a wallet, and why is the actual amount spent often lower than the limit?
EIP-1559 was activated with the London upgrade on August 5, 2021, splitting Ethereum transaction fees into two parts: a base fee and a priority fee (tip).
The max fee shown in your wallet is just a limit. Check the actual amount in a block explorer to see how much was really spent.
Under EIP-1559, the base fee paid for each Ethereum transaction is calculated at $ETH , and is burned directly.
If anything isn’t clear, leave me a comment.
#ETH
Just sharing my notes—make your own decisions when taking action.
EIP-1559 was activated with the London upgrade on August 5, 2021, splitting Ethereum transaction fees into two parts: a base fee and a priority fee (tip).
The max fee shown in your wallet is just a limit. Check the actual amount in a block explorer to see how much was really spent.
Under EIP-1559, the base fee paid for each Ethereum transaction is calculated at $ETH , and is burned directly.
If anything isn’t clear, leave me a comment.
#ETH
Just sharing my notes—make your own decisions when taking action.