Speed Up Transactions

Luminex Open Minter allows you to set your own fee rate so you can control and choose the cost of inscriptions. But what if your initial rate was set too low, and the chain activity increases? You can either wait for your transaction to confirm once the block fee rate has lowered (aka when there is less activity on chain) or you can speed up your transaction directly on Luminex!

How to Speed Up Transactions

1. Visit the Luminex mint page. Log into your account in the top right corner to view your account information, including Your Recent Mints on the bottom right. You’ll find your unconfirmed transaction here, with a little green clock icon.

Find Your Recent Mints at the bottom right.

1. Hover over the green clock icon to see “Speed Up TX”. Click the icon.

Find the Green Clock icon to click to speed up your transaction for the specific mint.

1. Once clicked, you’ll get a pop up with your TX ID, COST, and FEE RATE.

The pop up shows TX ID, Cost (to speed up TX), and Fee Rate enter field.

Make sure your pop ups and ad blockers are abled for mempool for this page to avoid issues.

1. You can click the TX ID number to be linked to mempool to show the details of your transaction. Here you can find what your initial fee rate was - in this example, the fee rate was set at 5.00 sat/vB and the transaction is unconfirmed (circled in image).

The Fee rate for this TX is 5.00 sats/vB and the TX status is Unconfirmed.

1. You can enter your desired number under fee rate here.

PLEASE PAY CLOSE ATTENTION HERE. The number entered is NOT your resulting fee rate for your transaction. The number under Gas Rate Change in green is your final fee rate for your transaction.

In this example, entering a fee rate of 100 sats/vB results in a final fee rate of 35.58 sats/vB for my pending transaction.

If you speed up your TX to a final fee rate that is lower than the current mempool fee rate, your transaction will remaining unconfirmed and pending until the blockchain activity slows down and fee rates decrease.

1. Once you’ve figured out the final fee rate you’d like to speed up your TX to, press the SPEED UP green button. You’ll receive the below message confirming that the transaction is submitted to the blockchain, and receive a new TX-ID for the speed up TX.

1. You can click the TX ID link again to see the fee rate you’ve sped up your TX by, and the effective fee rate, which is the final fee rate of your TX. If the current fee rate is lower than the effective fee rate, you will see your TX confirm on the next block (approximately every 10 minutes).

Check the Effective fee rate, which is the final fee rate your TX will process at.