Off-Exchange settlement transactions on Ethereum now use higher priority and maximum fees, so they are less likely to get stuck. If a settlement transaction does get stuck, you can drop it yourself and start the next settlement.
Why Fireblocks changed settlement fee handling
A settlement transaction is created with a network fee estimate, but hours can pass before it is signed and broadcast. If network fees rise in that time, the fee is too low, the transaction stays in the mempool, and the settlement is blocked. Because new transfers are blocked while a settlement is in progress, one stuck transaction can hold up the whole settlement.
What changed
- Priority fee and max fee are set explicitly. Fireblocks sets both on settlement transactions, well above current network rates, to cover the delay between creating and broadcasting the transaction. Built-in safeguards keep the fees reasonable relative to the transaction value.
- Fees are tiered by amount. The higher the transfer amount, the higher the fee estimate, so larger settlements get the strongest confirmation guarantee.
- You can drop a stuck settlement transaction. Drop and replace was not available for settlements before, because new transfers are blocked during a settlement. You can now drop a stuck settlement transaction and then start the next settlement.
The fee values are ceilings, not the amount you pay. The actual cost follows the network rate when the transaction is included in a block. You do not need to turn anything on.
Drop a stuck settlement transaction
You can drop a settlement transaction on an EVM blockchain while it has the Broadcasting status.
- In the Fireblocks Console of your main workspace, open Transaction History and find the stuck settlement transaction.
- Select Drop.
- Read the explanation, and then confirm the drop.
- A second message explains that you can track the drop in your collateral workspace, and it includes a link to the transfer.
Dropping replaces the stuck transaction with a new transfer of zero amount that uses the same nonce, which cancels the original. When the stuck transaction is cleared, you or the exchange can start the next settlement.
Things to know
- The fee improvements currently apply to settlements on Ethereum, where most stuck settlements occurred. Dropping a settlement transaction applies to EVM settlement transfers.
- A drop is available only while the transaction is in Broadcasting.