diff --git a/src/api/server/send.rs b/src/api/server/send.rs
index ccdd074f..4420223d 100644
--- a/src/api/server/send.rs
+++ b/src/api/server/send.rs
@@ -1,16 +1,19 @@
-use std::{collections::BTreeMap, net::IpAddr, time::Instant};
+use std::{
+	collections::BTreeMap,
+	net::IpAddr,
+	time::{Duration, Instant},
+};
 
 use axum::extract::State;
 use axum_client_ip::InsecureClientIp;
 use conduwuit::{
-	Err, Error, Result, debug, debug_warn, err, error,
+	Err, Error, Result, debug, debug_warn, err, error, info,
 	result::LogErr,
 	trace,
 	utils::{
 		IterStream, ReadyExt, millis_since_unix_epoch,
 		stream::{BroadbandExt, TryBroadbandExt, automatic_width},
 	},
-	warn,
 };
 use conduwuit_service::{
 	Services,
@@ -21,7 +24,7 @@ use itertools::Itertools;
 use ruma::{
 	CanonicalJsonObject, OwnedEventId, OwnedRoomId, OwnedUserId, RoomId, ServerName, UserId,
 	api::{
-		client::error::ErrorKind,
+		client::error::{ErrorKind, ErrorKind::LimitExceeded},
 		federation::transactions::{
 			edu::{
 				DeviceListUpdateContent, DirectDeviceContent, Edu, PresenceContent,
@@ -35,6 +38,8 @@ use ruma::{
 	serde::Raw,
 	to_device::DeviceIdOrAllDevices,
 };
+use service::transaction_ids::{TxnKey, WrappedTransactionResponse};
+use tokio::sync::watch::{Receiver, Sender};
 
 use crate::Ruma;
 
@@ -44,15 +49,6 @@ type Pdu = (OwnedRoomId, OwnedEventId, CanonicalJsonObject);
 /// # `PUT /_matrix/federation/v1/send/{txnId}`
 ///
 /// Push EDUs and PDUs to this server.
-#[tracing::instrument(
-	name = "txn",
-	level = "debug",
-	skip_all,
-	fields(
-		%client,
-		origin = body.origin().as_str()
-	),
-)]
 pub(crate) async fn send_transaction_message_route(
 	State(services): State<crate::State>,
 	InsecureClientIp(client): InsecureClientIp,
@@ -64,6 +60,18 @@ pub(crate) async fn send_transaction_message_route(
 		)));
 	}
 
+	let txn_key = (body.origin().to_owned(), body.transaction_id.clone());
+
+	// Did we already process this transaction
+	if let Some(response) = services.transaction_ids.get_cached_txn(&txn_key) {
+		return Ok(response);
+	}
+	// Or are currently processing it
+	if let Some(receiver) = services.transaction_ids.get_active_federation_txn(&txn_key) {
+		// Wait up to 50 seconds for a result
+		return wait_for_result(receiver).await;
+	}
+
 	if body.pdus.len() > PDU_LIMIT {
 		return Err!(Request(Forbidden(
 			"Not allowed to send more than {PDU_LIMIT} PDUs in one transaction"
@@ -76,16 +84,48 @@ pub(crate) async fn send_transaction_message_route(
 		)));
 	}
 
-	let txn_start_time = Instant::now();
-	trace!(
-		pdus = body.pdus.len(),
-		edus = body.edus.len(),
-		elapsed = ?txn_start_time.elapsed(),
-		id = %body.transaction_id,
-		origin = %body.origin(),
-		"Starting txn",
-	);
+	let sender = services
+		.transaction_ids
+		.start_federation_txn(txn_key.clone())?;
+	services.server.runtime().spawn(process_inbound_transaction(
+		services,
+		body,
+		client,
+		txn_key.clone(),
+		sender,
+	));
+	let receiver = services
+		.transaction_ids
+		.get_active_federation_txn(&txn_key)
+		.expect("just-created transaction was missing");
+	wait_for_result(receiver).await
+}
 
+async fn wait_for_result(
+	mut recv: Receiver<WrappedTransactionResponse>,
+) -> Result<send_transaction_message::v1::Response> {
+	if tokio::time::timeout(Duration::from_secs(50), recv.changed())
+		.await
+		.is_err()
+	{
+		// Took too long, return 429 to encourage the sender to try again
+		return Err(Error::BadRequest(
+			LimitExceeded { retry_after: None },
+			"Transaction is being still being processed. Please try again later.",
+		));
+	}
+	let value = recv.borrow_and_update();
+	Ok(value.clone().expect("channel returned with no value?"))
+}
+
+async fn process_inbound_transaction(
+	services: crate::State,
+	body: Ruma<send_transaction_message::v1::Request>,
+	client: IpAddr,
+	txn_key: TxnKey,
+	sender: Sender<Option<send_transaction_message::v1::Response>>,
+) {
+	let txn_start_time = Instant::now();
 	let pdus = body
 		.pdus
 		.iter()
@@ -102,30 +142,53 @@ pub(crate) async fn send_transaction_message_route(
 		.filter_map(Result::ok)
 		.stream();
 
-	let results = handle(&services, &client, body.origin(), txn_start_time, pdus, edus).await?;
-
-	debug!(
+	info!(
+		id = ?txn_key.1,
+		origin = ?txn_key.0,
 		pdus = body.pdus.len(),
 		edus = body.edus.len(),
-		elapsed = ?txn_start_time.elapsed(),
-		id = %body.transaction_id,
-		origin = %body.origin(),
-		"Finished txn",
+		"Processing transaction",
 	);
+	let Ok(results) = handle(&services, &client, body.origin(), txn_start_time, pdus, edus).await
+	else {
+		// TODO: handle this properly. The channel doesn't like being closed with no
+		// value, returning an empty response may lie to the remote and make them
+		// think we processed it properly (and lose events), but we also can't return
+		// an actual error.
+		panic!("failed to handle incoming transaction");
+	};
+
 	for (id, result) in &results {
 		if let Err(e) = result {
 			if matches!(e, Error::BadRequest(ErrorKind::NotFound, _)) {
-				warn!("Incoming PDU failed {id}: {e:?}");
+				debug_warn!("Incoming PDU failed {id}: {e:?}");
 			}
 		}
 	}
 
-	Ok(send_transaction_message::v1::Response {
+	info!(
+		id = ?txn_key.1,
+		origin = ?txn_key.0,
+		pdus = body.pdus.len(),
+		edus = body.edus.len(),
+		elapsed = ?txn_start_time.elapsed(),
+		"Finished processing transaction"
+	);
+
+	let response = send_transaction_message::v1::Response {
 		pdus: results
 			.into_iter()
 			.map(|(e, r)| (e, r.map_err(error::sanitized_message)))
 			.collect(),
-	})
+	};
+	services
+		.transaction_ids
+		.set_cached_txn(txn_key.clone(), response.clone());
+	sender
+		.send(Some(response))
+		.expect("couldn't send response to channel");
+	services.transaction_ids.finish_federation_txn(&txn_key);
+	drop(sender);
 }
 
 async fn handle(