Sequencer

The Sequencer plays a crucial role in:

• Receiving Proofs: Securely receives proofs from CPs.

• Validating Proofs: Checks the integrity, authenticity, and timeliness of proofs, including CP signatures.

• Batching Proofs: Aggregates proofs into blobs for efficient storage and processing.

• Submitting Data: Submits aggregated task data to the Swan Chain, creating AggregateTask contracts with blob CIDs.

• Gas Fee Management: Manages gas fees for CPs, maintaining separate accounts for gas costs and charging a small fee per task.

Dynamic Pricing Strategy

Due to significant increases in ETH mainnet gas prices, the Sequencer has implemented a dynamic pricing strategy to maintain stable L3 operations. The price per proof is calculated using the following formula:

$$Gas = \frac{ \frac{Gas_{base}}{GasPrice_{base}}*GasPrice_{real}}{Count_{proof}}$$

$$Gas_{L3} = \min(Gas, Gas_{max})$$

Where:

• $Gas_{base}$ = 0.01 ETH

• $GasPrice_{base}$ = 20 Gwei

• $GasPrice_{real}$ = Current ETH mainnet gas price at the time of L3 chain interaction

• $Gas_{max}$ = 0.00001 ETH

For example, based on recent network conditions (as of November 12):

• Daily network-wide proof submissions ($Count_{proof}$) = 8,500
• Average gas price ($GasPrice_{real}$) = 25 Gwei

$$Gas_{L3} = \min( \frac{ \frac{0.01}{20}*25 }{8500}, 0.00001)=0.000001470588235 ETH$$

This results in an adjusted gas fee that ensures efficient operation while maintaining cost-effectiveness for all participants.