Fee & Priority Setting

WEMIX Wallet provides a ‘Fee & Priority Setting’ feature at the point of information verification before executing a transaction. Fee & Priority Setting feature is an optional feature that provides more control over the fees paid by WEMIX Wallet.

Two recommended options (Sequential Processing, Priority Processing) and one direct setting for users to set their own fees provide a total of three options.

• Sequential Processing : Option to set fees to default and process transactions in order of execution

• Priority Processing : Option to prioritize by setting a higher fee value compared to sequential processing

• Direct Setting : Option for users to enter their own gas limit, maximum basic fee, and priority fee values

Glossary

Terms	Description
Gas Limit	This indicates the max gas unit desired. The gas unit is a multiplier for the 'Priority fee' and 'Max base fee'.
Base Fee	It is the basic fee for generating the transaction. The basic fee was previously paid as a reward to the block creator, but after the EIP-1559 reflection, the basic fee will be incinerated. The user cannot set the base fee directly. The Max base fee and priority fee can be adjusted by the user, which determines the fee to be paid.
Max base fee	The difference between the max fee and the actual base fee will be refunded if the transaction is included in a block. Total amount is calculated by multiplying the max base fee(GWei) by the gas limit.
Priority fee	An incentive paid directly to miners to prioritize the transaction.

The user can set a Gas Fee at the time of confirmation of coin/token sending information, exchange information, NFT sending information, and transaction approval information. If the ‘Fee & Priority Setting’ pop-up is called when the estimated fee value text link is selected, the user can select one of the three options to set the Gas Fee.