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In this guide we’ll go over how to set and configure pricing to charge for transcoding advertised to broadcasters off-chain.

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Choose a Price

To charge for transcoding orchestrators set a price per pixel denominated in Wei (1 ETH = 1e18 Wei), advertised to broadcasters off-chain. To get support for setting a price that will allow you to receive work on the network, contact us on our Discord channel.

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Configure Automatic Price Adjustments

The default behavior of orchestrators is to automatically adjust their advertised price per pixel based on the estimated overhead for redeeming a ticket. The overhead for redeeming a ticket is the estimated transaction cost of the redemption transaction divided by the face value of the ticket represented as a percentage. For example, given a base price per pixel of 1000 wei:
  • If the overhead is 1%, the advertised price would be 1010 wei
  • If the overhead is 20%, the advertised price would be 1200 wei
  • If the overhead is 50%, the advertised price is 1500 wei
The motivation for this automatic price adjustment mechanism is to allow orchestrators to dynamically adjust their price to compensate for higher overheads for ticket redemptions when gas prices are high. Orchestrators can disable this mechanism and advertise a constant price by setting the -autoAdjustPrice=false flag.

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Set a Price With livepeer_cli

You can set the base price per pixel using the livepeer_cli:
  1. Run livepeer_cli
  2. Enter the number corresponding to the Set orchestrator config option
  3. You will get prompted to enter values for several fields.
If you only want to set the price, you can continue using the existing default values.
  1. You will get prompted for the price per pixel:
  2. Set the number of pixels in a single unit of work you will charge for.
For example: 
   Enter a transcoding base price in wei per pixels
   eg. 1 wei / 10 pixels = 0,1 wei per pixel
   Enter the number of pixels that make up a single unit (default: 1 pixel):
The Default setting option (1) is typically used.
  1. Set the price (in wei) that you will charge per unit of work: 
    Enter the price for 1 pixel in Wei (required):
  2. To verify the price was updated, check the log from your node.