An 'Out of Gas' error occurs when the gas provided is insufficient to process your transaction on the selected EVM network, including Ethereum (ETH), Arbitrum (ARB), Polygon (MATIC), Base, Binance Smart Chain (BNB), and Optimism (OP Mainnet). This issue is commonly encountered during ERC20/BEP20 token or NFT transactions.
For a deeper understanding of gas, gas limits, and fee structures on Ethereum and other EVM chains, you can access detailed information here
What is Ledger doing to prevent "out of gas" issues?
- Ledger Live automatically calculates the optimal fee for your ETH and ERC20 transactions.
- However, transactions on Ethereum may still fail due to network congestion. Additionally, some smart contracts, particularly those involving ERC20 token transfers, require more gas and could lead to a transaction failure if the gas limit is too low.
- This can be prevented by using custom Ethereum transactions in Ledger Live. You can learn how to create custom transactions here.
How to identify an "out of gas" issue?
If an ERC20 or NFT transaction fails, Ledger Live will display it in your operation history with a 'Failed' status.
To investigate further:
- Click on the failed transaction in Ledger Live to expand it.
- Select 'View in explorer' to be redirected to Etherscan.io or the corresponding blockchain explorer for your transaction.
- In the block explorer, look for this error message: 'Warning! Error encountered during contract execution [Out of gas].' This will help you determine if an 'Out of Gas' issue led to the transaction failure.
- If your transaction did fail due to running out of gas, ensure your Ledger Live account has sufficient fee-paying currency (such as ETH, BNB, MATIC, etc.). Then, try resending the transaction in Ledger Live, either by choosing a higher gas fee option for faster processing or waiting for gas fees to decrease.
To monitor current gas fees, you can use tools like the 'Gas Tracker' on Etherscan, available at etherscan.io/gastracker to monitor gas fees.