Gas Balances on Steer
Introduction
When looking at apps to use or deploying your own, you may have noticed that each vault has an associated gas balance. Steer being an off-chain compute protocol can automate tasks and actions to execute on the blockchain. For most blockchains, whenever you want to interact with the state of the chain by sending a transaction you need to pay gas. This is used to pay the blockchain nodes for the computational work they do on their machines. Steer also has a node network, but currently instead of paying for gas twice they are supplemented by performance fees for their computational power spent.
FAQ
What is the gas balance for? When your transactions are voted on to reach consensus the last node necessary to pass the security threshold will be the one to execute the action. The node uses its own funds to publish the transaction and then is reimbursed for gas from the gas vault.
What happens if there are no funds for gas or it runs out? When there are insufficient funds to pay for gas the transactions will stop being executed on chain until more funds are added.
Can anyone fund my vault’s gas? Anyone can deposit gas into public strategies.
Can I withdraw gas? No, be alert and start small to test before moving large amounts of funds.
How is gas deposited? When viewing a strategy or job you will see an option to fund gas. These transactions interact with the gas vault, which tracks each vault’s balance and reimburses the keeper nodes.
Is there anything I can do to lower how much gas I spend? There are a few things you can do to reduce what you spend on gas, the biggest is if you are able to pick a chain with minimal fees for gas. Pick strategies and jobs that are optimized for gas savings (i.e. lower concentrated liquidity positions) to help your money work more efficiently for you.