people talk about solana ux but every time i've wanted to swap in phantom i've had transactions fail 5+ times before going through. is this better or worse ux than paying $50 for a swap when the chain is under high load?

Not trying to disagree to disagree, but I never had a txn fail via Phantom.

I have heard of it being frustrating for a bunch of people though.

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I’m not a frequent user. Maybe a coincidence with in-app swap in phantom?

The transaction pricing/contention is per contract account, so anything that is popular rn should result in failed txns unless the slippage is very generous.

But also during peak usage you can always go use an obscure contract and have no problems. That's why peoples' experience varies.

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Once upon a time, Solana didn't believe in fee markets, for years they kept saying transactions should be ~free (charging a tiny fixed fee) and they just gotta scale harder instead.

Turns out ~free transactions means ~free spam/DDoS.

After Ethereum did EIP-1559, Solana stopped gaslighting about how dumb fee markets are and introduced a version of EIP-1559 but per account rather than globally for the whole chain.

So rather than the whole chain becoming expensive when it's being overloaded, only transactions to the "hot spot" accounts get expensive.

On the one hand, it's more granular. On the other hand, it's much less expensive to overload a specific account and put it in a state where you can basically control which transactions get through so you can extract more MEV (especially since a lot of Solana transactions use relayers to get through).

Wait what. 

So fees are based on the contract not chain as a whole? 

Can you ELI5 this in Ethereum speak please 😂

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fascinating, need to learn more about how this works from a block building perspective. thanks for sharing