Off Exchange settlement transactions now use a higher fee estimate and fail right away when their fee is too low, so settlements are less likely to get stuck on the blockchain.
Why Fireblocks changed settlement fees
Fireblocks sets the network fee of a settlement transaction when it creates the transaction. Hours can pass before the transaction is signed. If network fees rise during that time, the transaction can end up with a fee that is too low, stall on the blockchain, and block later transfers until someone resolves it.
What changed
- Higher fee estimate. Fireblocks now uses a High fee estimate instead of a Medium estimate when it creates a settlement transaction. A higher estimate reduces the chance that the fee is too low by the time the transaction is signed.
- Fail on low fee. Fireblocks compares the current on-chain gas price with the fee set in the transaction. If the fee is too low, Fireblocks fails the transaction right away instead of leaving it stuck.
You don't need to turn anything on. The improvements apply automatically.
When a settlement transaction fails on a low fee
A settlement transaction that fails because its fee is too low shows the Failed status with the low-fee reason FAIL_ON_LOW_FEE. Open the transaction in Transaction History to see the substatus.
A failed transaction no longer blocks the settlement, so you or the exchange can start a new settlement right away.