NewElasticity

Event v210 → current #2

Emitted when base fee elasticity parameter is updated.

View events on chain
Useful for: developersanalytics

The Big Picture

Elasticity controls fee responsiveness. Higher = faster adjustments to congestion.

Use Cases

  • Track parameter changes
  • Monitor governance

Triggers

Emitted by

set_elasticity

Preconditions

  • Admin call
  • Valid elasticity value

Effects

Storage Modified

Elasticity

Postconditions

  • Elasticity updated
  • Affects future fee calculations

Event Data

#NameTypeDescription
0
elasticity
Permill New elasticity value (Permill)

Code Examples

import { ApiPromise, WsProvider } from "@polkadot/api";
import { stringCamelCase } from "@polkadot/util";

const provider = new WsProvider("wss://entrypoint-finney.opentensor.ai:443");
const api = await ApiPromise.create({ provider });

// Subscribe to NewElasticity events
api.query.system.events((events) => {
  events
    .filter(({ event }) =>
      event.section === stringCamelCase("BaseFee") &&
      event.method === "NewElasticity"
    )
    .forEach(({ event }) => {
      console.log("NewElasticity:", event.data.toHuman());
    });
});

Runtime Info

Pallet Index
25
Event Index
2
First Version
v210
Current Version
v393
Back to BaseFee Events