Idea: Repaying ETH fees from FX staking (until mainnet)

I would like to ask the Pundix team to consider repeating the same concept they did earlier:

Repay the ETH fees from staking FX - from now until the FX mainnet is launched.

This could potentially launch a decentralized FX blockchain before mid June and present a solution to the problems concerning the claim fees and upcoming deadline.

I would love to stake more FX to help launch the mainnet but I’m no whale. The only thing holding me back is the ETH fees. I don’t think I’m the only one.

4 Likes

I like the idea but I’m afraid it somewhat defeats the purpose of getting the community familiar with the whole decentralised staking idea. I’ve looked into some data yesterday for etherscan contract transactions and the fees seem to be slightly lower.

Get reward contract calls fees in chronological order:
0.02486988 Ether ($100.97)
0.055839408 Ether ($226.71)
0.029138887 Ether ($118.30)
0.019529722 Ether ($79.29)
0.059869164 Ether ($243.07)
0.05981581524 Ether ($242.85)

Stake contract calls in chronological order:
0.014513648 Ether ($58.94)
0.00767642113493 Ether ($31.17)
0.008075663 Ether ($32.80)
0.008044281 Ether ($32.67)
0.008742108 Ether ($35.50)
0.006708375 Ether ($27.24)
0.012669075 Ether ($51.45)
0.0112053901557 Ether ($45.51)
0.01611623 Ether ($65.45)
0.009721827 Ether ($39.48)
0.016968162 Ether ($68.91)
0.0160077 Ether ($65.01)
0.015900982 Ether ($64.58)

Withdraw contract calls in chronological order:
0.006789916 Ether ($27.58)
0.009918183 Ether ($40.29)
0.015433945 Ether ($62.69)
0.015755044 Ether ($64.00)
0.01336902510543 Ether ($54.30)
0.021816782 Ether ($88.62)
0.0295887515 Ether ($120.19)
0.02439664513038 Ether ($99.10)
0.0085307542925 Ether ($34.65)
0.0097409662 Ether ($39.57)
0.0107679912 Ether ($43.74)

While some fees seem high, they definitely decreased since the peaks of 1.5k$+ fees for get reward calls. Good timing when the ETH network is less congested is crucial.

4 Likes

Maybe noob question…

… but when i use advanced option during the claiming, i can adjust the gasprice (fee) and gas limit to, for example 10 gwei manual.
So way less fee price.
Will this work? Or wil the transaction be be lost or cancelled or something?

Well when it comes to 10 gwei, probably lost; example

Here’s another example with 84 gwei that went through (with appropriate gas limit settings)

Here’s another example with 100 gwei that ran out of gas

This is the contract where you can check individual transactions and their fees based on their type.

1 Like

Crazy cheap gas right now, maybe someone find this useful

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With all do respect - I don’t think making anybody pay $300-500 in fees teaches anything about DeFi or staking. I can say for myself that the only thing I’ve learning so far is that ETH sucks! :joy:

If we wants to teach about staking, I think it’s wiser to do an in app tutorial. :wink:

Also: Thank you for the post about the cheap tx opportunity. Missed it but I will keep an eye out for this in the future and claim my tokens as cheap as possible before mid June. Better claim cheap and early than last minute and crazy expensive… :+1:

6 Likes

@rob, I’ll be bringing this subject to discuss with the rest of the team at our next meeting.

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Thank you @eduardstal ! I truly appreciate that community suggestions are taken into consideration.

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Yes. This forum is really nice. Allows for a constructive dialogue directly with team, without all the spam and nonsense. :nerd_face:

2 Likes

I waited for the fee’s to be under $200 and did both first claims expecting the fee’s total to be closer to a total of 350-380 usd, I always set to fast and the total fee’s ended up to be closer to 275 usd, the fee’s where on a reducing cycle so they probably dropped while i was in the the process, basic’s of what I’m saying is look for lower fee time but try to do it the reducing cycle, my claim was for 2500 fx so I was not to concerned to fee’s but i hope this is helpful for those with less.

3 Likes

I was under the impression that the APY’s offered were to cover the excessive gas fees until Mainnet; Im probably wrong but; Ask my wife….