diff --git a/x/feemarket/spec/01_concepts.md b/x/feemarket/spec/01_concepts.md
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+<!--
+order: 1
+-->
+
+# Concepts
+
+Adopt EIP 1559 idea into cosmos-sdk.
+
+- Maintain a minimal gas prices in consensus, which is ajusted based on total gas used in the previous block. It's called base gas price, to distinguish with the `minimal-gas-prices` configured in each node.
+- In checkTx context, the `minimal-gas-prices` are also repected if it's bigger than the consensus one.
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diff --git a/x/feemarket/spec/02_state_transitions.md b/x/feemarket/spec/02_state_transitions.md
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+<!--
+order: 2
+-->
+
+# State Transitions
+
+This document describes the state transition operations pertaining to the base gas prices.
+
+## Block Gas Used
+
+The total gas used by current block is stored in chain state at the `EndBlock` event.
+
+It's initialized to `-1` in `InitGenesis`.
+
+## Base Gas Prices
+
+### Init
+
+The base gas prices are initialized to the parameter `InitialBasePrices` in `InitGenesis` event.
+
+### Adjust
+
+Base gas prices are adjusted in the `EndBlock` event according to the total gas used in the previous block.
+
+```golang
+parentGP := GetState(BaseGasPrices)
+parentGasUsed := GetState(BlockGasUsed)
+
+var expectedGP sdk.Coins
+if parentGasUsed == -1:
+  expectedGP = parentGP
+else if parentGasUsed == params.BlockGasTarget:
+	expectedGP = parentGP
+else if parentGasUsed > params.BlockGasTarget:
+	delta = parentGasUsed - params.BlockGasTarget
+	delta = max(parentBaseFee * delta / params.BlockGasTarget / params.BaseGasPriceChangeDenominator, 1)
+	expectedGP = parentBaseFee + delta
+else:
+	delta =  params.BlockGasTarget - parentGasUsed
+	delta = parentGP * delta / params.BlockGasTarget / params.BaseGasPriceChangeDenominator
+	expectedGP = parentGP - delta
+
+SetState(BaseGasPrices, expectedGP)
+```
+
diff --git a/x/feemarket/spec/03_antehandlers.md b/x/feemarket/spec/03_antehandlers.md
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+<!--
+order: 3
+-->
+
+# AnteHandlers
+
+## Decorators
+
+### `MempoolFeeDecorator`
+
+The `MempoolFeeDecorator` in `x/auth` module should check the `BaseGasPrices` along with the `minimal-gas-prices`.
+
+```golang
+gas := tx.GetGas()
+baseGP := GetState(BaseGasPrices)
+minGP := ctx.MinGasPrices()  // it's zero in deliverTx context
+
+requiredFees := make(sdk.Coins, 0)
+if baseGP.IsZero() {
+  // base gas prices are not enabled, check the minimal-gas-prices only
+  for i, gp := range minGasPrices {
+  	fee := gp.Amount.Mul(gas).Ceil().RoundInt()
+    requiredFees = append(requiredFees, sdk.NewCoin(gp.Denom, fee))
+  }
+} else {
+  // check `tx.GetFee() > max(baseGP, minGP) * tx.GetGas()`
+  for i, gp := range baseGP {
+    fee := gp.Amount.Mul(gas).Ceil().RoundInt()
+    amt := minGasPrices.AmountOf(gp.Denom)
+    if amt > fee {
+      fee = amt
+		}
+    requiredFees = append(requiredFees, sdk.NewCoin(gp.Denom, fee))
+  }
+}
+
+feeCoins := tx.GetFee()
+if !feeCoins.IsAnyGTE(requiredFees) {
+	return fmt.Errorf("insufficient fees; got: %s required: %s", feeCoins, requiredFees)
+}
+```
+
diff --git a/x/feemarket/spec/04_end_block.md b/x/feemarket/spec/04_end_block.md
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+++ b/x/feemarket/spec/04_end_block.md
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+<!--
+order: 4 -->
+
+# End-Block
+
+Each abci end block call, `x/feemarket` module adjust `BaseGasPrices` and record the `BlockGasUsed`.
+
+- [Adjust `BaseGasPrices`](02_state_transitions.md#base-gas-prices)
+- [Record `BlockGasUsed`](#02_state_transitions.md#block-gas-used)
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diff --git a/x/feemarket/spec/05_events.md b/x/feemarket/spec/05_events.md
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+++ b/x/feemarket/spec/05_events.md
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+<!--
+order: 5 -->
+
+# Events
+
+The `x/feemarket` module emits the following events:
+
+## EndBlocker
+
+| Type       | Attribute Key   | Attribute Value |
+| ---------- | --------------- | --------------- |
+| block_gas  | height          | {blockHeight}   |
+| block_gas  | amount          | {blockGasUsed}  |
+| fee_market | base_gas_prices | {baseGasPrices} |
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diff --git a/x/feemarket/spec/06_params.md b/x/feemarket/spec/06_params.md
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+++ b/x/feemarket/spec/06_params.md
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+<!--
+order: 6 -->
+
+# Parameters
+
+The `x/feemarket` module contains the following parameters:
+
+| Key                           | Type   | Example     |
+| ----------------------------- | ------ | ----------- |
+| BlockGasTarget                | uint32 | "2000000"   |
+| InitialBaseGasPrices          | Coins  | "1000uatom" |
+| BaseGasPriceChangeDenominator | uint32 | 8           |
+
+- `BlockGasTarget`, should be smaller than `ConsensusParams.Block.MaxGas` if the latter one is specified.
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diff --git a/x/feemarket/spec/README.md b/x/feemarket/spec/README.md
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+<!--
+order: 0
+title: Feemarket Overview
+parent:
+  title: "feemarket"
+-->
+
+# `feemarket`
+
+## Abstract
+
+This document specifies the feemarket module of the Cosmos SDK.
+
+The feemarket module implements a base gas prices in consensus level.
+
+## Contents
+
+1. **[Concepts](01_concepts.md)**
+2. **[State Transitions](02_state_transitions.md)**
+3. **[Ante Handlers](03_antehandlers.md)**
+4. **[End Block](04_end_block.md)**
+5. **[Events](05_events.md)**
+6. **[Params](06_params.md)**
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