diff --git a/accounts/abi/bind/backends/simulated.go b/accounts/abi/bind/backends/simulated.go
index 3b73932f7..ba5c571fc 100644
--- a/accounts/abi/bind/backends/simulated.go
+++ b/accounts/abi/bind/backends/simulated.go
@@ -407,7 +407,12 @@ func (b *SimulatedBackend) PendingNonceAt(_ context.Context, account common.Addr
 // SuggestGasPrice implements ContractTransactor.SuggestGasPrice. Since the simulated
 // chain doesn't have miners, we just return a gas price of 1 for any call.
 func (b *SimulatedBackend) SuggestGasPrice(_ context.Context) (*big.Int, error) {
-	return new(big.Int).SetUint64(b.config.UnitPrice), nil
+	current := b.blockchain.CurrentBlock()
+	if b.blockchain.Config().IsMagmaForkEnabled(current.Number()) {
+		return new(big.Int).Mul(current.Header().BaseFee, big.NewInt(2)), nil
+	} else {
+		return new(big.Int).SetUint64(b.config.UnitPrice), nil
+	}
 }
 
 // EstimateGas executes the requested code against the latest block/state and
diff --git a/blockchain/state_transition.go b/blockchain/state_transition.go
index 4a6fd4377..fdb70a83e 100644
--- a/blockchain/state_transition.go
+++ b/blockchain/state_transition.go
@@ -487,7 +487,3 @@ func (st *StateTransition) refundGas(refundQuotient uint64) {
 func (st *StateTransition) gasUsed() uint64 {
 	return st.initialGas - st.gas
 }
-
-func getBurnAmountMagma(fee *big.Int) *big.Int {
-	return new(big.Int).Div(fee, big.NewInt(2))
-}
diff --git a/blockchain/system/rebalance.go b/blockchain/system/rebalance.go
index c1902f6bf..e98b7466c 100644
--- a/blockchain/system/rebalance.go
+++ b/blockchain/system/rebalance.go
@@ -154,7 +154,7 @@ func newRebalanceReceipt() *rebalanceResult {
 	}
 }
 
-func (result *rebalanceResult) memo(isKip103 bool) []byte {
+func (result *rebalanceResult) Memo(isKip103 bool) []byte {
 	var (
 		memo []byte
 		err  error
@@ -322,8 +322,5 @@ func RebalanceTreasury(state *state.StateDB, chain backends.BlockChainForCaller,
 	remainder := new(big.Int).Sub(totalZeroedAmount, totalAllocatedAmount)
 	result.Burnt.Add(result.Burnt, remainder)
 	result.Success = true
-
-	// Leave a memo for logging
-	logger.Info("successfully executed treasury rebalancing", "memo", string(result.memo(isKIP103)))
 	return result, nil
 }
diff --git a/blockchain/system/rebalance_test.go b/blockchain/system/rebalance_test.go
index 62237aa85..db9aab769 100644
--- a/blockchain/system/rebalance_test.go
+++ b/blockchain/system/rebalance_test.go
@@ -222,7 +222,7 @@ func rebalanceTreasury(t *testing.T, sender *bind.TransactOpts, config *params.C
 		res, err := RebalanceTreasury(state, chain, chain.CurrentHeader())
 		if chain.Config().Kip103CompatibleBlock != nil && tc.expectBurnt.Cmp(big.NewInt(0)) == -1 {
 			assert.Equal(t, ErrRebalanceNotEnoughBalance, err)
-			t.Log(string(res.memo(true)))
+			t.Log(string(res.Memo(true)))
 			continue
 		}
 
@@ -250,9 +250,9 @@ func rebalanceTreasury(t *testing.T, sender *bind.TransactOpts, config *params.C
 		//	assert.Equal(t, tc.expectKip103Memo, string(res.memo(isKip103)))
 		//}
 
-		t.Log(string(res.memo(isKip103)))
+		t.Log(string(res.Memo(isKip103)))
 		if !isKip103 {
-			assert.Equal(t, tc.expectKip160Memo, string(res.memo(isKip103)))
+			assert.Equal(t, tc.expectKip160Memo, string(res.Memo(isKip103)))
 		}
 	}
 }
diff --git a/consensus/istanbul/backend/engine.go b/consensus/istanbul/backend/engine.go
index 3515c7ad1..002f23b66 100644
--- a/consensus/istanbul/backend/engine.go
+++ b/consensus/istanbul/backend/engine.go
@@ -553,9 +553,13 @@ func (sb *backend) Finalize(chain consensus.ChainReader, header *types.Header, s
 	// so the existing state db should be used to apply the rebalancing result.
 	// Only on the KIP-103 or KIP-160 hardfork block, the following logic should be executed
 	if chain.Config().IsKIP160ForkBlock(header.Number) || chain.Config().IsKIP103ForkBlock(header.Number) {
-		_, err := system.RebalanceTreasury(state, chain, header)
+		rebalanceResult, err := system.RebalanceTreasury(state, chain, header)
 		if err != nil {
 			logger.Error("failed to execute treasury rebalancing. State not changed", "err", err)
+		} else {
+			// Leave the memo in the log for later contract finalization
+			isKIP103 := chain.Config().IsKIP103ForkBlock(header.Number) // because memo format differs between KIP-103 and KIP-160
+			logger.Info("successfully executed treasury rebalancing", "memo", string(rebalanceResult.Memo(isKIP103)))
 		}
 	}