diff --git a/node/builder.go b/node/builder.go
index acda5a07a80..6386f78a608 100644
--- a/node/builder.go
+++ b/node/builder.go
@@ -222,7 +222,7 @@ var LibP2P = Options(
 	Override(ConnGaterKey, lp2p.ConnGaterOption),
 
 	// Services (resource management)
-	Override(new(network.ResourceManager), lp2p.ResourceManager),
+	Override(new(network.ResourceManager), lp2p.ResourceManager(200)),
 	Override(ResourceManagerKey, lp2p.ResourceManagerOption),
 )
 
@@ -282,6 +282,7 @@ func ConfigCommon(cfg *config.Common, enableLibp2pNode bool) Option {
 				cfg.Libp2p.ConnMgrHigh,
 				time.Duration(cfg.Libp2p.ConnMgrGrace),
 				cfg.Libp2p.ProtectedPeers)),
+			Override(new(network.ResourceManager), lp2p.ResourceManager(cfg.Libp2p.ConnMgrHigh)),
 			Override(new(*pubsub.PubSub), lp2p.GossipSub),
 			Override(new(*config.Pubsub), &cfg.Pubsub),
 
diff --git a/node/modules/lp2p/rcmgr.go b/node/modules/lp2p/rcmgr.go
index 0bc4dd6b215..d0906fd8fc3 100644
--- a/node/modules/lp2p/rcmgr.go
+++ b/node/modules/lp2p/rcmgr.go
@@ -4,6 +4,7 @@ import (
 	"context"
 	"errors"
 	"fmt"
+	"math/bits"
 	"os"
 	"path/filepath"
 
@@ -15,6 +16,8 @@ import (
 	"github.com/libp2p/go-libp2p-core/protocol"
 	rcmgr "github.com/libp2p/go-libp2p-resource-manager"
 
+	logging "github.com/ipfs/go-log/v2"
+
 	"github.com/filecoin-project/lotus/metrics"
 	"github.com/filecoin-project/lotus/node/repo"
 
@@ -22,55 +25,104 @@ import (
 	"go.opencensus.io/tag"
 )
 
-func ResourceManager(lc fx.Lifecycle, repo repo.LockedRepo) (network.ResourceManager, error) {
-	var limiter *rcmgr.BasicLimiter
-	var opts []rcmgr.Option
-
-	repoPath := repo.Path()
+func ResourceManager(connMgrHi uint) func(lc fx.Lifecycle, repo repo.LockedRepo) (network.ResourceManager, error) {
+	return func(lc fx.Lifecycle, repo repo.LockedRepo) (network.ResourceManager, error) {
+		envvar := os.Getenv("LOTUS_RCMGR")
+		if envvar == "" || envvar == "0" {
+			// TODO opt-in for now -- flip this to enabled by default once we are comfortable with testing
+			log.Info("libp2p resource manager is disabled")
+			return network.NullResourceManager, nil
+		}
 
-	// create limiter -- parse $repo/limits.json if exists
-	limitsFile := filepath.Join(repoPath, "limits.json")
-	limitsIn, err := os.Open(limitsFile)
-	switch {
-	case err == nil:
-		defer limitsIn.Close() //nolint:errcheck
-		limiter, err = rcmgr.NewDefaultLimiterFromJSON(limitsIn)
-		if err != nil {
-			return nil, fmt.Errorf("error parsing limit file: %w", err)
+		log.Info("libp2p resource manager is enabled")
+		// enable debug logs for rcmgr
+		logging.SetLogLevel("rcmgr", "debug")
+
+		// Adjust default limits
+		// - give it more memory, up to 4G, min of 1G
+		// - if maxconns are too high, adjust Conn/FD/Stream limits
+		defaultLimits := rcmgr.DefaultLimits.WithSystemMemory(.125, 1<<30, 4<<30)
+		maxconns := int(connMgrHi)
+		if 2*maxconns > defaultLimits.SystemBaseLimit.ConnsInbound {
+			// adjust conns to 2x to allow for two conns per peer (TCP+QUIC)
+			defaultLimits.SystemBaseLimit.ConnsInbound = logScale(2 * maxconns)
+			defaultLimits.SystemBaseLimit.ConnsOutbound = logScale(2 * maxconns)
+			defaultLimits.SystemBaseLimit.Conns = logScale(4 * maxconns)
+
+			defaultLimits.SystemBaseLimit.StreamsInbound = logScale(16 * maxconns)
+			defaultLimits.SystemBaseLimit.StreamsOutbound = logScale(64 * maxconns)
+			defaultLimits.SystemBaseLimit.Streams = logScale(64 * maxconns)
+
+			if 2*maxconns > defaultLimits.SystemBaseLimit.FD {
+				defaultLimits.SystemBaseLimit.FD = logScale(2 * maxconns)
+			}
+
+			defaultLimits.ServiceBaseLimit.StreamsInbound = logScale(8 * maxconns)
+			defaultLimits.ServiceBaseLimit.StreamsOutbound = logScale(32 * maxconns)
+			defaultLimits.ServiceBaseLimit.Streams = logScale(32 * maxconns)
+
+			defaultLimits.ProtocolBaseLimit.StreamsInbound = logScale(8 * maxconns)
+			defaultLimits.ProtocolBaseLimit.StreamsOutbound = logScale(32 * maxconns)
+			defaultLimits.ProtocolBaseLimit.Streams = logScale(32 * maxconns)
+
+			log.Info("adjusted default resource manager limits")
 		}
 
-	case errors.Is(err, os.ErrNotExist):
-		limiter = rcmgr.NewDefaultLimiter()
+		// initialize
+		var limiter *rcmgr.BasicLimiter
+		var opts []rcmgr.Option
 
-	default:
-		return nil, err
-	}
+		repoPath := repo.Path()
 
-	// TODO: also set appropriate default limits for lotus protocols
-	libp2p.SetDefaultServiceLimits(limiter)
+		// create limiter -- parse $repo/limits.json if exists
+		limitsFile := filepath.Join(repoPath, "limits.json")
+		limitsIn, err := os.Open(limitsFile)
+		switch {
+		case err == nil:
+			defer limitsIn.Close() //nolint:errcheck
+			limiter, err = rcmgr.NewLimiterFromJSON(limitsIn, defaultLimits)
+			if err != nil {
+				return nil, fmt.Errorf("error parsing limit file: %w", err)
+			}
 
-	opts = append(opts, rcmgr.WithMetrics(rcmgrMetrics{}))
+		case errors.Is(err, os.ErrNotExist):
+			limiter = rcmgr.NewStaticLimiter(defaultLimits)
 
-	if os.Getenv("LOTUS_DEBUG_RCMGR") != "" {
-		debugPath := filepath.Join(repoPath, "debug")
-		if err := os.MkdirAll(debugPath, 0755); err != nil {
-			return nil, fmt.Errorf("error creating debug directory: %w", err)
+		default:
+			return nil, err
 		}
-		traceFile := filepath.Join(debugPath, "rcmgr.json.gz")
-		opts = append(opts, rcmgr.WithTrace(traceFile))
-	}
 
-	mgr, err := rcmgr.NewResourceManager(limiter, opts...)
-	if err != nil {
-		return nil, fmt.Errorf("error creating resource manager: %w", err)
-	}
+		// TODO: also set appropriate default limits for lotus protocols
+		libp2p.SetDefaultServiceLimits(limiter)
+
+		opts = append(opts, rcmgr.WithMetrics(rcmgrMetrics{}))
 
-	lc.Append(fx.Hook{
-		OnStop: func(_ context.Context) error {
-			return mgr.Close()
-		}})
+		if os.Getenv("LOTUS_DEBUG_RCMGR") != "" {
+			debugPath := filepath.Join(repoPath, "debug")
+			if err := os.MkdirAll(debugPath, 0755); err != nil {
+				return nil, fmt.Errorf("error creating debug directory: %w", err)
+			}
+			traceFile := filepath.Join(debugPath, "rcmgr.json.gz")
+			opts = append(opts, rcmgr.WithTrace(traceFile))
+		}
+
+		mgr, err := rcmgr.NewResourceManager(limiter, opts...)
+		if err != nil {
+			return nil, fmt.Errorf("error creating resource manager: %w", err)
+		}
+
+		lc.Append(fx.Hook{
+			OnStop: func(_ context.Context) error {
+				return mgr.Close()
+			}})
+
+		return mgr, nil
+	}
+}
 
-	return mgr, nil
+func logScale(val int) int {
+	bitlen := bits.Len(uint(val))
+	return 1 << bitlen
 }
 
 func ResourceManagerOption(mgr network.ResourceManager) Libp2pOpts {