diff --git a/HISTORY.md b/HISTORY.md
index 8041ab0249..fae951dc9f 100644
--- a/HISTORY.md
+++ b/HISTORY.md
@@ -1,5 +1,10 @@
 # Release History - open AEA
 
+## 1.56.0 (2024-09-17)
+
+Plugins:
+- Fixes the pricing logic. #756
+
 ## 1.55.0 (2024-08-05)
 
 Plugins:
diff --git a/SECURITY.md b/SECURITY.md
index bf60f02e55..f6bdbdcd66 100644
--- a/SECURITY.md
+++ b/SECURITY.md
@@ -8,8 +8,8 @@ The following table shows which versions of `open-aea` are currently being suppo
 
 | Version    | Supported          |
 |------------| ------------------ |
-| `1.55.x`   | :white_check_mark: |
-| `< 1.55.0` | :x:                |
+| `1.56.x`   | :white_check_mark: |
+| `< 1.56.0` | :x:                |
 
 ## Reporting a Vulnerability
 
diff --git a/aea/__version__.py b/aea/__version__.py
index ce6acb7162..e957ee052d 100644
--- a/aea/__version__.py
+++ b/aea/__version__.py
@@ -23,7 +23,7 @@
 __title__ = "open-aea"
 __description__ = "Open Autonomous Economic Agent framework (without vendor lock-in)"
 __url__ = "https://github.com/valory-xyz/open-aea.git"
-__version__ = "1.55.0"
+__version__ = "1.56.0"
 __author__ = "Valory AG"
 __license__ = "Apache-2.0"
 __copyright__ = "2021 Valory AG, 2019 Fetch.AI Limited"
diff --git a/aea/skills/scaffold/skill.yaml b/aea/skills/scaffold/skill.yaml
index 4efa966a48..62e5a551e5 100644
--- a/aea/skills/scaffold/skill.yaml
+++ b/aea/skills/scaffold/skill.yaml
@@ -32,3 +32,4 @@ models:
     class_name: MyModel
 dependencies: {}
 is_abstract: false
+customs: []
diff --git a/deploy-image/Dockerfile b/deploy-image/Dockerfile
index 9a35619ff7..d7d9419002 100644
--- a/deploy-image/Dockerfile
+++ b/deploy-image/Dockerfile
@@ -16,7 +16,7 @@ RUN apk add --no-cache go
 
 # aea installation
 RUN pip install --upgrade pip
-RUN pip install --upgrade --force-reinstall open-aea[all]==1.55.0 "open-aea-cli-ipfs<2.0.0,>=1.55.0"
+RUN pip install --upgrade --force-reinstall open-aea[all]==1.56.0 "open-aea-cli-ipfs<2.0.0,>=1.56.0"
 
 # directories and aea cli config
 WORKDIR /home/agents
diff --git a/deploy-image/README.md b/deploy-image/README.md
index 217b0875ae..e29591e91a 100644
--- a/deploy-image/README.md
+++ b/deploy-image/README.md
@@ -11,7 +11,7 @@ The example uses the `fetchai/my_first_aea` project. You will likely want to mod
 Install subversion, then download the example directory to your local working directory
 
 ``` bash
-svn checkout https://github.com/valory-xyz/open-aea/tags/v1.55.0/packages packages
+svn checkout https://github.com/valory-xyz/open-aea/tags/v1.56.0/packages packages
 ```
 
 ### Modify scripts
diff --git a/develop-image/docker-env.sh b/develop-image/docker-env.sh
index e1947d146f..bfdeb67aa7 100755
--- a/develop-image/docker-env.sh
+++ b/develop-image/docker-env.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 
 # Swap the following lines if you want to work with 'latest'
-DOCKER_IMAGE_TAG=valory/open-aea-develop:1.55.0
+DOCKER_IMAGE_TAG=valory/open-aea-develop:1.56.0
 # DOCKER_IMAGE_TAG=valory/open-aea-develop:latest
 
 DOCKER_BUILD_CONTEXT_DIR=..
diff --git a/docs/api/plugins/aea_ledger_ethereum/ethereum.md b/docs/api/plugins/aea_ledger_ethereum/ethereum.md
index ab2a481665..8fd337e974 100644
--- a/docs/api/plugins/aea_ledger_ethereum/ethereum.md
+++ b/docs/api/plugins/aea_ledger_ethereum/ethereum.md
@@ -47,7 +47,8 @@ Round WEI to equivalent GWEI
 #### get`_`base`_`fee`_`multiplier
 
 ```python
-def get_base_fee_multiplier(base_fee_gwei: int) -> float
+def get_base_fee_multiplier(
+        base_fee_gwei: Union[int, decimal.Decimal]) -> float
 ```
 
 Returns multiplier value.
@@ -58,9 +59,9 @@ Returns multiplier value.
 
 ```python
 def estimate_priority_fee(
-        web3_object: Web3, base_fee_gwei: int, block_number: int,
-        priority_fee_estimation_trigger: int, default_priority_fee: int,
-        fee_history_blocks: int, fee_history_percentile: int,
+        web3_object: Web3, block_number: int,
+        default_priority_fee: Optional[int], fee_history_blocks: int,
+        fee_history_percentile: int,
         priority_fee_increase_boundary: int) -> Optional[int]
 ```
 
@@ -73,7 +74,7 @@ Estimate priority fee from base fee.
 ```python
 def get_gas_price_strategy_eip1559(
     max_gas_fast: int, fee_history_blocks: int, fee_history_percentile: int,
-    priority_fee_estimation_trigger: int, default_priority_fee: int,
+    default_priority_fee: Optional[int],
     fallback_estimate: Dict[str,
                             Optional[int]], priority_fee_increase_boundary: int
 ) -> Callable[[Web3, TxParams], Dict[str, Wei]]
diff --git a/docs/package_list.md b/docs/package_list.md
index 0a061e1b17..873d6302f7 100644
--- a/docs/package_list.md
+++ b/docs/package_list.md
@@ -14,7 +14,7 @@
 | contract/fetchai/erc1155/0.22.0                               | `bafybeiff7a6xncyad53o2r7lekpnhexcspze6ocy55xtpzqeuacnlpunm4` |
 | connection/fetchai/gym/0.19.0                                 | `bafybeicqqvl4tt3qbulnkoffciagmfd6p3hxxi3i2mrrqtnbycv757pn6y` |
 | connection/fetchai/stub/0.21.0                                | `bafybeibybboiwgklfiqpkkcw6rwj65s5jalzfzf6mh6fstxdlt6habzwvy` |
-| connection/valory/ledger/0.19.0                               | `bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq` |
+| connection/valory/ledger/0.19.0                               | `bafybeibigvowo52dw3tqwmxkdxtq52qzm6iqw752gpzpi23kgej4k3sum4` |
 | connection/valory/http_server/0.22.0                          | `bafybeihpgu56ovmq4npazdbh6y6ru5i7zuv6wvdglpxavsckyih56smu7m` |
 | connection/valory/p2p_libp2p/0.1.0                            | `bafybeic2u7azbwjny2nhaltqnbohlvysx3x6ectzbege7sxwrbzcz4lcma` |
 | connection/valory/p2p_libp2p_client/0.1.0                     | `bafybeid3xg5k2ol5adflqloy75ibgljmol6xsvzvezebsg7oudxeeolz7e` |
@@ -26,12 +26,12 @@
 | skill/fetchai/error_test_skill/0.1.0                          | `bafybeihsbtlpe7h6fsvoxban5rilkmwviwkokul5cqym6atoolirontiyu` |
 | skill/fetchai/gym/0.20.0                                      | `bafybeie7y2fsxfuhsqxqcaluo5exskmrm5q3a6e2hfcskcuvzvxjjhijh4` |
 | skill/fetchai/http_echo/0.20.0                                | `bafybeicfiri2juaqh3azeit3z3rf44kgxdo6oj4lgxjgvnowq6m7j47qrm` |
-| skill/fetchai/erc1155_client/0.28.0                           | `bafybeihwk56assrj5xpu5dvyyajw7dgnk65eq2n3idd5pinxp5vortd6wi` |
-| skill/fetchai/erc1155_deploy/0.30.0                           | `bafybeiewhczeyrrml6shrd5dr556uwqt54aiwrol2fyqtx2n4ymgfbc6mu` |
+| skill/fetchai/erc1155_client/0.28.0                           | `bafybeigeoxvo3dabzbhjphu2n32wn5bomhv7b6ge6ogcte7qa6h42rwn5a` |
+| skill/fetchai/erc1155_deploy/0.30.0                           | `bafybeialn4tcp4vs7nousugfjpin5r37vhd2qcmphi3fs7ob66kcwb5gu4` |
 | skill/fetchai/error/0.17.0                                    | `bafybeicboomvykqhel3otyv4qg5t3hzpo6kmn5bk4ljluithhuieu7flsm` |
 | skill/fetchai/fipa_dummy_buyer/0.2.0                          | `bafybeidgso7lo5ay44mbxsp3lxilrgeek3ye44e6wus2ayq6kyxfvc3vjm` |
-| skill/fetchai/generic_buyer/0.26.0                            | `bafybeif5q4xb45m5l2h6pikgqdieko4iojna5mou7byub5voajcxwxruo4` |
-| skill/fetchai/generic_seller/0.27.0                           | `bafybeie3dhsbasxhtkvpakxml6eyccqqpmog3kynyrl5khyrnw6hjjpdj4` |
+| skill/fetchai/generic_buyer/0.26.0                            | `bafybeienntvkd7blbbc4p624dop7tz4iejtpi36somhohbi4tmxd63ksr4` |
+| skill/fetchai/generic_seller/0.27.0                           | `bafybeid4y4p2xlnkezvtzhgwfdzrowhul34md64shf3jv5nskpggskc3fm` |
 | skill/fetchai/task_test_skill/0.1.0                           | `bafybeidv77u2xl52mnxakwvh7fuh46aiwfpteyof4eaptfd4agoi6cdble` |
 | agent/fetchai/error_test/0.1.0                                | `bafybeiecm675ndzbh35jkejtxn4ughoutztltjhgwzfbp57okabedjmnpq` |
 | agent/fetchai/gym_aea/0.25.0                                  | `bafybeibzn3qomqmkaksgpd3gn6aijffvvw7rojswhoytiovohuc737fvfm` |
diff --git a/docs/upgrading.md b/docs/upgrading.md
index 01627f1a66..7db49a5509 100644
--- a/docs/upgrading.md
+++ b/docs/upgrading.md
@@ -9,6 +9,13 @@ Below we describe the additional manual steps required to upgrade between differ
 
 ### Upgrade guide
 
+## `v1.55.0` to `v1.56.0`
+
+- The `priority_fee_estimation_trigger` has been removed from the `eip1559` configuration of the ledger.
+- The `default_priority_fee` is now optional. 
+  If it is set to `None`, dynamic pricing will be applied. 
+  Otherwise, the specified value will be used.
+
 ## `v1.54.0` to `v1.55.0`
 
 - No backwards incompatible changes
diff --git a/examples/tac_deploy/Dockerfile b/examples/tac_deploy/Dockerfile
index 7767268a2e..1115b88cd9 100644
--- a/examples/tac_deploy/Dockerfile
+++ b/examples/tac_deploy/Dockerfile
@@ -19,7 +19,7 @@ RUN apk add --no-cache go
 
 # aea installation
 RUN python -m pip install --upgrade pip
-RUN pip install --upgrade --force-reinstall open-aea[all]==1.55.0
+RUN pip install --upgrade --force-reinstall open-aea[all]==1.56.0
 
 # directories and aea cli config
 COPY /.aea /home/.aea
diff --git a/packages/fetchai/skills/erc1155_client/skill.yaml b/packages/fetchai/skills/erc1155_client/skill.yaml
index 8acef4c775..d84dd05e49 100644
--- a/packages/fetchai/skills/erc1155_client/skill.yaml
+++ b/packages/fetchai/skills/erc1155_client/skill.yaml
@@ -21,7 +21,7 @@ fingerprint:
   tests/test_strategy.py: bafybeicbxie3v6vue3gcnru6vsvggcgy3shxwrldis5gppizbuhooslcqa
 fingerprint_ignore_patterns: []
 connections:
-- valory/ledger:0.19.0:bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq
+- valory/ledger:0.19.0:bafybeigntoericenpzvwejqfuc3kqzo2pscs76qoygg5dbj6f4zxusru5e
 contracts:
 - fetchai/erc1155:0.22.0:bafybeiff7a6xncyad53o2r7lekpnhexcspze6ocy55xtpzqeuacnlpunm4
 protocols:
diff --git a/packages/fetchai/skills/erc1155_deploy/skill.yaml b/packages/fetchai/skills/erc1155_deploy/skill.yaml
index cc216289aa..f56dc80199 100644
--- a/packages/fetchai/skills/erc1155_deploy/skill.yaml
+++ b/packages/fetchai/skills/erc1155_deploy/skill.yaml
@@ -21,7 +21,7 @@ fingerprint:
   tests/test_strategy.py: bafybeigxtw2j2c7vl6xhdwos62jbtmx62xfgdyadptm5eewmkesmcooyea
 fingerprint_ignore_patterns: []
 connections:
-- valory/ledger:0.19.0:bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq
+- valory/ledger:0.19.0:bafybeigntoericenpzvwejqfuc3kqzo2pscs76qoygg5dbj6f4zxusru5e
 contracts:
 - fetchai/erc1155:0.22.0:bafybeiff7a6xncyad53o2r7lekpnhexcspze6ocy55xtpzqeuacnlpunm4
 protocols:
diff --git a/packages/fetchai/skills/generic_buyer/skill.yaml b/packages/fetchai/skills/generic_buyer/skill.yaml
index e3afca86a3..25fae0f272 100644
--- a/packages/fetchai/skills/generic_buyer/skill.yaml
+++ b/packages/fetchai/skills/generic_buyer/skill.yaml
@@ -19,7 +19,7 @@ fingerprint:
   tests/test_models.py: bafybeibh72j3n72yseqvmpppucpu5wtidf6ebxbxkfnmrnlh4zv5y5apei
 fingerprint_ignore_patterns: []
 connections:
-- valory/ledger:0.19.0:bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq
+- valory/ledger:0.19.0:bafybeigntoericenpzvwejqfuc3kqzo2pscs76qoygg5dbj6f4zxusru5e
 contracts: []
 protocols:
 - fetchai/default:1.0.0:bafybeihdvtmnz7fzy7kwi3wlo6rfl27f6q3g5entplgvq7y23i3v5uoz24
diff --git a/packages/fetchai/skills/generic_seller/skill.yaml b/packages/fetchai/skills/generic_seller/skill.yaml
index 145836c628..9defb353fa 100644
--- a/packages/fetchai/skills/generic_seller/skill.yaml
+++ b/packages/fetchai/skills/generic_seller/skill.yaml
@@ -20,7 +20,7 @@ fingerprint:
   tests/test_models.py: bafybeihabrc22zqssit3fmqhxptosy6qz6mx65ukhf5iayvirfv42xrhoq
 fingerprint_ignore_patterns: []
 connections:
-- valory/ledger:0.19.0:bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq
+- valory/ledger:0.19.0:bafybeigntoericenpzvwejqfuc3kqzo2pscs76qoygg5dbj6f4zxusru5e
 contracts: []
 protocols:
 - fetchai/default:1.0.0:bafybeihdvtmnz7fzy7kwi3wlo6rfl27f6q3g5entplgvq7y23i3v5uoz24
diff --git a/packages/packages.json b/packages/packages.json
index d02b9a7bf4..1ca693b94f 100644
--- a/packages/packages.json
+++ b/packages/packages.json
@@ -14,7 +14,7 @@
         "contract/fetchai/erc1155/0.22.0": "bafybeiff7a6xncyad53o2r7lekpnhexcspze6ocy55xtpzqeuacnlpunm4",
         "connection/fetchai/gym/0.19.0": "bafybeicqqvl4tt3qbulnkoffciagmfd6p3hxxi3i2mrrqtnbycv757pn6y",
         "connection/fetchai/stub/0.21.0": "bafybeibybboiwgklfiqpkkcw6rwj65s5jalzfzf6mh6fstxdlt6habzwvy",
-        "connection/valory/ledger/0.19.0": "bafybeihynkdraqthjtv74qk3nc5r2xubniqx2hhzpxn7bd4qmlf7q4wruq",
+        "connection/valory/ledger/0.19.0": "bafybeigntoericenpzvwejqfuc3kqzo2pscs76qoygg5dbj6f4zxusru5e",
         "connection/valory/http_server/0.22.0": "bafybeihpgu56ovmq4npazdbh6y6ru5i7zuv6wvdglpxavsckyih56smu7m",
         "connection/valory/p2p_libp2p/0.1.0": "bafybeic2u7azbwjny2nhaltqnbohlvysx3x6ectzbege7sxwrbzcz4lcma",
         "connection/valory/p2p_libp2p_client/0.1.0": "bafybeid3xg5k2ol5adflqloy75ibgljmol6xsvzvezebsg7oudxeeolz7e",
@@ -26,12 +26,12 @@
         "skill/fetchai/error_test_skill/0.1.0": "bafybeihsbtlpe7h6fsvoxban5rilkmwviwkokul5cqym6atoolirontiyu",
         "skill/fetchai/gym/0.20.0": "bafybeie7y2fsxfuhsqxqcaluo5exskmrm5q3a6e2hfcskcuvzvxjjhijh4",
         "skill/fetchai/http_echo/0.20.0": "bafybeicfiri2juaqh3azeit3z3rf44kgxdo6oj4lgxjgvnowq6m7j47qrm",
-        "skill/fetchai/erc1155_client/0.28.0": "bafybeihwk56assrj5xpu5dvyyajw7dgnk65eq2n3idd5pinxp5vortd6wi",
-        "skill/fetchai/erc1155_deploy/0.30.0": "bafybeiewhczeyrrml6shrd5dr556uwqt54aiwrol2fyqtx2n4ymgfbc6mu",
+        "skill/fetchai/erc1155_client/0.28.0": "bafybeih7q6b2lcqcbh7rln3mgcnbtzlw7cpzjl23znnz6jj74cc4noahvq",
+        "skill/fetchai/erc1155_deploy/0.30.0": "bafybeigoarj6k2czdhhfqzry5w5jn2ux7chszem37zxiqy3232jr2mxs64",
         "skill/fetchai/error/0.17.0": "bafybeicboomvykqhel3otyv4qg5t3hzpo6kmn5bk4ljluithhuieu7flsm",
         "skill/fetchai/fipa_dummy_buyer/0.2.0": "bafybeidgso7lo5ay44mbxsp3lxilrgeek3ye44e6wus2ayq6kyxfvc3vjm",
-        "skill/fetchai/generic_buyer/0.26.0": "bafybeif5q4xb45m5l2h6pikgqdieko4iojna5mou7byub5voajcxwxruo4",
-        "skill/fetchai/generic_seller/0.27.0": "bafybeie3dhsbasxhtkvpakxml6eyccqqpmog3kynyrl5khyrnw6hjjpdj4",
+        "skill/fetchai/generic_buyer/0.26.0": "bafybeihzzcbki3p5l4nt5spbddx6nzbejv7b6nruhycwaxfrstjwmrfucq",
+        "skill/fetchai/generic_seller/0.27.0": "bafybeig3ffbcefeandebzepxabztob5sdkumydzla52k7pvztmjfegwflq",
         "skill/fetchai/task_test_skill/0.1.0": "bafybeidv77u2xl52mnxakwvh7fuh46aiwfpteyof4eaptfd4agoi6cdble",
         "agent/fetchai/error_test/0.1.0": "bafybeiecm675ndzbh35jkejtxn4ughoutztltjhgwzfbp57okabedjmnpq",
         "agent/fetchai/gym_aea/0.25.0": "bafybeibzn3qomqmkaksgpd3gn6aijffvvw7rojswhoytiovohuc737fvfm",
diff --git a/packages/valory/connections/ledger/connection.yaml b/packages/valory/connections/ledger/connection.yaml
index 4e6177994f..b269e899e9 100644
--- a/packages/valory/connections/ledger/connection.yaml
+++ b/packages/valory/connections/ledger/connection.yaml
@@ -16,7 +16,7 @@ fingerprint:
   tests/conftest.py: bafybeid7vo7e2m76ey5beeadtbxywxx5ukefd5slwbc362rwmhht6i45ou
   tests/test_contract_dispatcher.py: bafybeiag5lnpc7h25w23ash4hk4cowxsy5buxgpr474l3tfewnhf56eqyq
   tests/test_ledger.py: bafybeigcedfr3yv3jse3xwrerrgwbelgb56uhgrvdus527d3daekh6dx4m
-  tests/test_ledger_api.py: bafybeifw5smawex5m2fm6rt4kmunc22kpabalmshh45qb3xnuap33sfgyi
+  tests/test_ledger_api.py: bafybeihlwfzfffyr3gcrwa74g2ctoeymv76ahnxbxyal3xikgb7ftvpnl4
 fingerprint_ignore_patterns: []
 connections: []
 protocols:
@@ -37,8 +37,7 @@ config:
           max_gas_fast: 1500
           fee_history_blocks: 10
           fee_history_percentile: 5
-          priority_fee_estimation_trigger: 100
-          default_priority_fee: 3
+          default_priority_fee: null
           fallback_estimate:
             maxFeePerGas: 20000000000
             maxPriorityFeePerGas: 3000000000
diff --git a/packages/valory/connections/ledger/tests/test_ledger_api.py b/packages/valory/connections/ledger/tests/test_ledger_api.py
index c7b85f2dfd..d0864f9eba 100644
--- a/packages/valory/connections/ledger/tests/test_ledger_api.py
+++ b/packages/valory/connections/ledger/tests/test_ledger_api.py
@@ -1,7 +1,7 @@
 # -*- coding: utf-8 -*-
 # ------------------------------------------------------------------------------
 #
-#   Copyright 2021-2023 Valory AG
+#   Copyright 2021-2024 Valory AG
 #   Copyright 2018-2019 Fetch.AI Limited
 #
 #   Licensed under the Apache License, Version 2.0 (the "License");
@@ -36,7 +36,9 @@
     DEFAULT_GANACHE_CHAIN_ID,
     ganache,
 )
+from eth_typing import BlockNumber
 from web3.eth import Eth
+from web3.types import FeeHistory, Wei
 
 from aea.common import Address
 from aea.configurations.data_types import PublicId
@@ -85,7 +87,7 @@
     ],
 )
 # TODO: uncomment gas station strategy config after the gasstation API start
-gas_strategies = pytest.mark.parametrize(
+gas_strategies_parametrization = pytest.mark.parametrize(
     "gas_strategies",
     [
         {"gas_price_strategy": None},
@@ -98,6 +100,66 @@
     ],
 )
 
+fee_history_mock = patch("web3.eth.Eth.fee_history")
+
+fee_history_parametrization = pytest.mark.parametrize(
+    "fee_history",
+    (
+        FeeHistory(
+            baseFeePerGas=[Wei(0)],
+            gasUsedRatio=[0],
+            oldestBlock=BlockNumber(0),
+            reward=[[Wei(0)]],
+        ),
+        FeeHistory(
+            baseFeePerGas=[
+                Wei(int("0x180b5d502", 16)),
+                Wei(int("0x18f9534de", 16)),
+                Wei(int("0x18367e3a6", 16)),
+                Wei(int("0x17e4519ed", 16)),
+                Wei(int("0x179eb57e1", 16)),
+                Wei(int("0x178ac8e88", 16)),
+                Wei(int("0x177434776", 16)),
+                Wei(int("0x17b4c8c2d", 16)),
+                Wei(int("0x173695e84", 16)),
+                Wei(int("0x1706c1f66", 16)),
+                Wei(int("0x155600bc6", 16)),
+            ],
+            gasUsedRatio=[
+                0.6546364333333333,
+                0.37810266666666664,
+                0.44697146666666665,
+                0.4544759666666667,
+                0.48681983333333334,
+                0.4850136666666667,
+                0.5430227,
+                0.4168211333333333,
+                0.46780666666666665,
+                0.206346,
+            ],
+            oldestBlock=BlockNumber(int("0x13cd298", 16)),
+            reward=[
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0x0", 16))],
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0xf4240", 16))],
+                [Wei(int("0x124f80", 16))],
+                [Wei(int("0x919f8", 16))],
+                [Wei(int("0xf4240", 16))],
+            ],
+        ),
+        FeeHistory(
+            baseFeePerGas=[],
+            gasUsedRatio=[],
+            oldestBlock=BlockNumber(0),
+            reward=[],
+        ),
+    ),
+)
+
 
 class LedgerApiDialogues(BaseLedgerApiDialogues):
     """The dialogues class keeps track of all ledger_api dialogues."""
@@ -220,17 +282,23 @@ async def test_get_state(
         )
         assert actual_block == expected_block
 
+    @fee_history_mock
     @pytest.mark.asyncio
-    @gas_strategies
+    @gas_strategies_parametrization
+    @fee_history_parametrization
     async def test_get_raw_transaction(
         self,
+        fee_history_mock_: Mock,
         gas_strategies: Dict,
+        fee_history: FeeHistory,
         ledger_apis_connection: Connection,
         update_default_ethereum_ledger_api: None,
     ) -> None:
         """Test get raw transaction with Ethereum APIs."""
         import aea  # noqa # to load registries
 
+        fee_history_mock_.return_value = fee_history
+
         crypto1 = make_crypto(
             EthereumCrypto.identifier, private_key_path=ETHEREUM_PRIVATE_KEY_PATH
         )
@@ -281,12 +349,19 @@ async def test_get_raw_transaction(
         assert isinstance(response_message.raw_transaction, RawTransaction)
         assert response_message.raw_transaction.ledger_id == request.terms.ledger_id
 
+    @fee_history_mock
     @pytest.mark.asyncio
-    @gas_strategies
+    @gas_strategies_parametrization
+    @fee_history_parametrization
     async def test_send_signed_transaction_ethereum(
-        self, gas_strategies: Dict, ledger_apis_connection: LedgerConnection
+        self,
+        fee_history_mock_: Mock,
+        gas_strategies: Dict,
+        fee_history: FeeHistory,
+        ledger_apis_connection: LedgerConnection,
     ) -> None:
         """Test send signed transaction with Ethereum APIs."""
+        fee_history_mock_.return_value = fee_history
         ledger_api_dialogues = LedgerApiDialogues(SOME_SKILL_ID)
 
         crypto1 = make_crypto(
diff --git a/plugins/aea-cli-benchmark/setup.py b/plugins/aea-cli-benchmark/setup.py
index bddecacb62..2d5db9a970 100755
--- a/plugins/aea-cli-benchmark/setup.py
+++ b/plugins/aea-cli-benchmark/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-cli-benchmark",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="CLI extension for AEA framework benchmarking.",
diff --git a/plugins/aea-cli-ipfs/setup.py b/plugins/aea-cli-ipfs/setup.py
index e030a5a1db..c10a8b9d66 100755
--- a/plugins/aea-cli-ipfs/setup.py
+++ b/plugins/aea-cli-ipfs/setup.py
@@ -28,7 +28,7 @@
 
 setup(
     name="open-aea-cli-ipfs",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="CLI extension for open AEA framework wrapping IPFS functionality.",
diff --git a/plugins/aea-ledger-cosmos/setup.py b/plugins/aea-ledger-cosmos/setup.py
index 5457b3d726..13cabf5616 100644
--- a/plugins/aea-ledger-cosmos/setup.py
+++ b/plugins/aea-ledger-cosmos/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-ledger-cosmos",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of Cosmos.",
diff --git a/plugins/aea-ledger-ethereum-flashbots/setup.py b/plugins/aea-ledger-ethereum-flashbots/setup.py
index e85cfa8e30..56cfb5337f 100644
--- a/plugins/aea-ledger-ethereum-flashbots/setup.py
+++ b/plugins/aea-ledger-ethereum-flashbots/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-ethereum-flashbots",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package extending the default open-aea ethereum ledger plugin to add support for flashbots.",
@@ -41,7 +41,7 @@
     },
     python_requires=">=3.9,<4.0",
     install_requires=[
-        "open-aea-ledger-ethereum~=1.55.0",
+        "open-aea-ledger-ethereum~=1.56.0",
         "open-aea-flashbots==1.4.0",
     ],
     tests_require=["pytest"],
diff --git a/plugins/aea-ledger-ethereum-hwi/setup.py b/plugins/aea-ledger-ethereum-hwi/setup.py
index 72c4c7c4d8..caf43e1c47 100644
--- a/plugins/aea-ledger-ethereum-hwi/setup.py
+++ b/plugins/aea-ledger-ethereum-hwi/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-ethereum-hwi",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and support for hardware wallet interactions.",
@@ -42,7 +42,7 @@
         "web3>=6.0.0,<7",
         "ipfshttpclient==0.8.0a2",
         "eth-account>=0.8.0,<0.9.0",
-        "open-aea-ledger-ethereum~=1.55.0",
+        "open-aea-ledger-ethereum~=1.56.0",
         "ledgerwallet==0.1.3",
         "protobuf<4.25.0,>=4.21.6",
         "construct<=2.10.61",
diff --git a/plugins/aea-ledger-ethereum/aea_ledger_ethereum/ethereum.py b/plugins/aea-ledger-ethereum/aea_ledger_ethereum/ethereum.py
index 8220125cc2..098830436a 100644
--- a/plugins/aea-ledger-ethereum/aea_ledger_ethereum/ethereum.py
+++ b/plugins/aea-ledger-ethereum/aea_ledger_ethereum/ethereum.py
@@ -27,6 +27,7 @@
 import math
 import threading
 import warnings
+from collections import defaultdict
 from copy import deepcopy
 from pathlib import Path
 from typing import Any, Callable, Dict, List, Optional, Tuple, Type, Union, cast
@@ -89,16 +90,13 @@
 # Which percentile of effective priority fees to include
 FEE_HISTORY_PERCENTILE = 5
 
-# Which base fee to trigger priority fee estimation at (GWEI)
-PRIORITY_FEE_ESTIMATION_TRIGGER = 100
-
 # Returned if above trigger is not met (GWEI)
-DEFAULT_PRIORITY_FEE = 3
+DEFAULT_PRIORITY_FEE = None
 
 # In case something goes wrong fall back to this estimate
 FALLBACK_ESTIMATE = {
     "maxFeePerGas": to_wei(20, "gwei"),
-    "maxPriorityFeePerGas": to_wei(DEFAULT_PRIORITY_FEE, "gwei"),
+    "maxPriorityFeePerGas": to_wei(3, "gwei"),
 }
 
 PRIORITY_FEE_INCREASE_BOUNDARY = 200  # percentage
@@ -107,7 +105,6 @@
     "max_gas_fast": MAX_GAS_FAST,
     "fee_history_blocks": FEE_HISTORY_BLOCKS,
     "fee_history_percentile": FEE_HISTORY_PERCENTILE,
-    "priority_fee_estimation_trigger": PRIORITY_FEE_ESTIMATION_TRIGGER,
     "default_priority_fee": DEFAULT_PRIORITY_FEE,
     "fallback_estimate": FALLBACK_ESTIMATE,
     "priority_fee_increase_boundary": PRIORITY_FEE_INCREASE_BOUNDARY,
@@ -129,6 +126,8 @@
     EIP1559_POLYGON: DEFAULT_EIP1559_STRATEGY_POLYGON,
 }
 
+BASE_FEE_MULTIPLIER = defaultdict(lambda: 1.2, {40: 2.0, 100: 1.6, 200: 1.4})
+
 # The tip increase is the minimum required of 10%.
 TIP_INCREASE = 1.1
 
@@ -149,32 +148,26 @@ def round_to_whole_gwei(number: Type[int]) -> Wei:
     return cast(Wei, to_wei(rounded, "gwei"))
 
 
-def get_base_fee_multiplier(base_fee_gwei: int) -> float:
+def get_base_fee_multiplier(base_fee_gwei: Union[int, decimal.Decimal]) -> float:
     """Returns multiplier value."""
-
-    if base_fee_gwei <= 40:  # pylint: disable=no-else-return
-        return 2.0
-    elif base_fee_gwei <= 100:  # pylint: disable=no-else-return
-        return 1.6
-    elif base_fee_gwei <= 200:  # pylint: disable=no-else-return
-        return 1.4
-    else:  # pylint: disable=no-else-return
-        return 1.2
+    valid_fees = {fee for fee in BASE_FEE_MULTIPLIER if base_fee_gwei <= fee}
+    # add negative fee in case the valid fees set is empty, to trigger the default value
+    if not valid_fees:
+        valid_fees.add(-1)
+    return BASE_FEE_MULTIPLIER[min(valid_fees)]
 
 
 def estimate_priority_fee(
     web3_object: Web3,
-    base_fee_gwei: int,
     block_number: int,
-    priority_fee_estimation_trigger: int,
-    default_priority_fee: int,
+    default_priority_fee: Optional[int],
     fee_history_blocks: int,
     fee_history_percentile: int,
     priority_fee_increase_boundary: int,
 ) -> Optional[int]:
     """Estimate priority fee from base fee."""
 
-    if base_fee_gwei < priority_fee_estimation_trigger:
+    if default_priority_fee is not None:
         return default_priority_fee
 
     fee_history = web3_object.eth.fee_history(
@@ -189,7 +182,7 @@ def estimate_priority_fee(
 
     # Calculate percentage increases from between ordered list of fees
     percentage_increases = [
-        ((j - i) / i) * 100 for i, j in zip(rewards[:-1], rewards[1:])
+        ((j - i) / i) * 100 if i != 0 else 0 for i, j in zip(rewards[:-1], rewards[1:])
     ]
     highest_increase = max(*percentage_increases)
     highest_increase_index = percentage_increases.index(highest_increase)
@@ -210,8 +203,7 @@ def get_gas_price_strategy_eip1559(
     max_gas_fast: int,
     fee_history_blocks: int,
     fee_history_percentile: int,
-    priority_fee_estimation_trigger: int,
-    default_priority_fee: int,
+    default_priority_fee: Optional[int],
     fallback_estimate: Dict[str, Optional[int]],
     priority_fee_increase_boundary: int,
 ) -> Callable[[Web3, TxParams], Dict[str, Wei]]:
@@ -239,9 +231,7 @@ def eip1559_price_strategy(
 
         estimated_priority_fee = estimate_priority_fee(
             web3,
-            cast(int, base_fee_gwei),
             block_number,
-            priority_fee_estimation_trigger=priority_fee_estimation_trigger,
             default_priority_fee=default_priority_fee,
             fee_history_blocks=fee_history_blocks,
             fee_history_percentile=fee_history_percentile,
@@ -255,9 +245,12 @@ def eip1559_price_strategy(
             return fallback_estimate
 
         max_priority_fee_per_gas = max(
-            estimated_priority_fee, to_wei(default_priority_fee, "gwei")
+            estimated_priority_fee,
+            to_wei(default_priority_fee, "gwei")
+            if default_priority_fee is not None
+            else -1,
         )
-        multiplier = get_base_fee_multiplier(cast(int, base_fee_gwei))
+        multiplier = get_base_fee_multiplier(base_fee_gwei)
 
         potential_max_fee = base_fee * multiplier
         max_fee_per_gas = (
@@ -1327,7 +1320,7 @@ def _try_get_revert_reason(self, tx: TxData, **_kwargs: Any) -> str:
             self.api.eth.call(replay_tx, tx["blockNumber"] - 1)
         except ContractLogicError as e:
             # execution reverted exception
-            return str(e)
+            return e.message
         except HTTPError as e:
             # http exception
             raise e
diff --git a/plugins/aea-ledger-ethereum/setup.py b/plugins/aea-ledger-ethereum/setup.py
index ac17a4e35c..29e6467559 100644
--- a/plugins/aea-ledger-ethereum/setup.py
+++ b/plugins/aea-ledger-ethereum/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-ledger-ethereum",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of Ethereum.",
diff --git a/plugins/aea-ledger-ethereum/tests/test_ethereum.py b/plugins/aea-ledger-ethereum/tests/test_ethereum.py
index ae69abfa0c..df3aa9aa0e 100644
--- a/plugins/aea-ledger-ethereum/tests/test_ethereum.py
+++ b/plugins/aea-ledger-ethereum/tests/test_ethereum.py
@@ -1,7 +1,7 @@
 # -*- coding: utf-8 -*-
 # ------------------------------------------------------------------------------
 #
-#   Copyright 2021-2023 Valory AG
+#   Copyright 2021-2024 Valory AG
 #   Copyright 2018-2019 Fetch.AI Limited
 #
 #   Licensed under the Apache License, Version 2.0 (the "License");
@@ -56,11 +56,13 @@
     get_base_fee_multiplier,
     get_gas_price_strategy_eip1559_polygon,
 )
+from eth_typing import BlockNumber
 from requests import HTTPError
 from web3 import Web3
 from web3._utils.request import _session_cache as session_cache
 from web3.datastructures import AttributeDict
 from web3.exceptions import ContractLogicError
+from web3.types import FeeHistory, Wei
 
 from aea.common import JSONLike
 from aea.crypto.helpers import DecryptError, KeyIsIncorrect
@@ -876,6 +878,15 @@ def test_revert_reason(
             assert transaction_receipt["revert_reason"] == "test revert reason"
 
 
+@mock.patch(
+    "web3.eth.Eth.fee_history",
+    return_value=FeeHistory(
+        baseFeePerGas=[Wei(0)],
+        gasUsedRatio=[0],
+        oldestBlock=BlockNumber(0),
+        reward=[[Wei(0)]],
+    ),
+)
 @pytest.mark.parametrize(
     "strategy",
     (
@@ -885,6 +896,7 @@ def test_revert_reason(
     ),
 )
 def test_try_get_gas_pricing(
+    _fee_history_mock: Mock,
     strategy: Dict[str, Union[str, Tuple[str, ...]]],
     ethereum_testnet_config: dict,
     ganache: Generator,
@@ -899,7 +911,7 @@ def test_try_get_gas_pricing(
         gas_price[param] > 0 and isinstance(gas_price[param], int)
         for param in strategy["params"]
     )
-    expteced_reprice = {
+    expected_reprice = {
         param: math.ceil(value * TIP_INCREASE) for param, value in gas_price.items()
     }
 
@@ -911,7 +923,7 @@ def test_try_get_gas_pricing(
         gas_reprice[param] > 0 and isinstance(gas_reprice[param], int)
         for param in strategy["params"]
     )
-    assert gas_reprice == expteced_reprice, "The repricing was performed incorrectly!"
+    assert gas_reprice == expected_reprice, "The repricing was performed incorrectly!"
 
 
 @pytest.mark.parametrize(
@@ -1024,12 +1036,15 @@ def test_estimate_priority_fee() -> None:
     # return none on no rewards
     web3_mock = Mock()
     web3_mock.eth.fee_history = Mock(return_value={"reward": []})
-    assert estimate_priority_fee(web3_mock, 1, 1, 1, 1, 11, 1, 1) is None
+    assert estimate_priority_fee(web3_mock, 1, None, 11, 1, 1) is None
 
     # If we have big increase in value, we could be considering "outliers" in our estimate
     # Skip the low elements and take a new median
     web3_mock.eth.fee_history = Mock(return_value={"reward": [[1], [10], [10000]]})
-    assert estimate_priority_fee(web3_mock, 1, 1, 1, 1, 11, 1, 1) == 10000
+    assert estimate_priority_fee(web3_mock, 1, None, 11, 1, 1) == 10000
+
+    # test the default priority fee
+    assert estimate_priority_fee(web3_mock, 1, 20, 11, 1, 1) == 20
 
 
 def test_try_get_revert_reason_http_error_propagated(ethereum_testnet_config) -> None:
diff --git a/plugins/aea-ledger-fetchai/setup.py b/plugins/aea-ledger-fetchai/setup.py
index c5d8d40a4d..8ae6529a7b 100644
--- a/plugins/aea-ledger-fetchai/setup.py
+++ b/plugins/aea-ledger-fetchai/setup.py
@@ -31,7 +31,7 @@
 
 setup(
     name="open-aea-ledger-fetchai",
-    version="1.55.0",
+    version="1.56.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger API of Fetch.AI.",
@@ -44,7 +44,7 @@
             "test_tools/data/*",
         ]
     },
-    install_requires=["open-aea-ledger-cosmos~=1.55.0"],
+    install_requires=["open-aea-ledger-cosmos~=1.56.0"],
     tests_require=["pytest"],
     entry_points={
         "aea.cryptos": ["fetchai = aea_ledger_fetchai:FetchAICrypto"],
diff --git a/plugins/aea-ledger-solana/setup.py b/plugins/aea-ledger-solana/setup.py
index f3e2e90022..fddebccfe9 100644
--- a/plugins/aea-ledger-solana/setup.py
+++ b/plugins/aea-ledger-solana/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-solana",
-    version="1.55.0",
+    version="1.56.0",
     author="dassy23",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of solana.",
diff --git a/scripts/install.ps1 b/scripts/install.ps1
index eea55beb6d..bc0a12a361 100644
--- a/scripts/install.ps1
+++ b/scripts/install.ps1
@@ -34,7 +34,7 @@ function instal_choco_golang_gcc {
 }
 function install_aea {
 	echo "Install aea"
-    $output=pip install open-aea[all]==1.55.0 --force --no-cache-dir 2>&1 |out-string;
+    $output=pip install open-aea[all]==1.56.0 --force --no-cache-dir 2>&1 |out-string;
     if ($LastExitCode -ne 0) {
         echo $output
         echo "AEA install failed!"
diff --git a/scripts/install.sh b/scripts/install.sh
index 374567fc1a..c45218f45b 100755
--- a/scripts/install.sh
+++ b/scripts/install.sh
@@ -42,7 +42,7 @@ function is_python_version_ok() {
 
 function install_aea (){
 	echo "Install AEA"
-	output=$(pip3 install --user open-aea[all]==1.55.0 --force --no-cache-dir)
+	output=$(pip3 install --user open-aea[all]==1.56.0 --force --no-cache-dir)
 	if [[  $? -ne 0 ]];
 	then
 		echo "$output"
diff --git a/skaffold.yaml b/skaffold.yaml
index 7ed445554f..9701aa5eca 100644
--- a/skaffold.yaml
+++ b/skaffold.yaml
@@ -5,7 +5,7 @@ metadata:
 build:
   tagPolicy:
     envTemplate:
-      template: "1.55.0"
+      template: "1.56.0"
   artifacts:
   - image: valory/open-aea-develop
     docker:
@@ -24,7 +24,7 @@ profiles:
     build:
       tagPolicy:
         envTemplate:
-          template: "1.55.0"
+          template: "1.56.0"
       artifacts:
       - image: valory/open-aea-docs
         docker:
diff --git a/tests/data/dummy_aea/aea-config.yaml b/tests/data/dummy_aea/aea-config.yaml
index 9e24b4a41d..dc7921184d 100644
--- a/tests/data/dummy_aea/aea-config.yaml
+++ b/tests/data/dummy_aea/aea-config.yaml
@@ -57,6 +57,7 @@ connection_private_key_paths:
   fetchai: fetchai_private_key.txt
 default_routing: {}
 dependencies: {}
+customs: []
 ---
 public_id: dummy_author/test_skill:0.1.0
 type: skill
diff --git a/user-image/Dockerfile b/user-image/Dockerfile
index d22ca49202..ba8ea23b6a 100644
--- a/user-image/Dockerfile
+++ b/user-image/Dockerfile
@@ -7,7 +7,7 @@ ENV LANG C.UTF-8
 RUN apt update && apt install -y python3.11-dev python3-pip -y && apt autoremove && apt autoclean
 
 RUN pip3 install --upgrade pip
-RUN pip3 install "open-aea[all]==1.55.0" open-aea-cli-ipfs==1.55.0
+RUN pip3 install "open-aea[all]==1.56.0" open-aea-cli-ipfs==1.56.0
 
 COPY user-image/openssl.cnf /etc/ssl
 
diff --git a/user-image/docker-env.sh b/user-image/docker-env.sh
index 9f0eadf7a0..038faebb41 100644
--- a/user-image/docker-env.sh
+++ b/user-image/docker-env.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 
 # Swap the following lines if you want to work with 'latest'
-DOCKER_IMAGE_TAG=valory/open-aea-user:1.55.0
+DOCKER_IMAGE_TAG=valory/open-aea-user:1.56.0
 # DOCKER_IMAGE_TAG=valory/open-aea-user:latest
 
 DOCKER_BUILD_CONTEXT_DIR=..