I staked 500 1Inch tokens and to unstake will cost me almost $200 dollars in Ethereum. I think this is fraud on the part of 1Inch to charge or even allow unstaking to cost over $200 dollars in Ethereum. Wrong. Should I file an SEC complaint?
fees are a bit high, yes. just to stake 1inch in you need 50$ eth fees. and claiming rewards costs like 12$.
other platforms for claim staking rewards take about 0.2$ to claim staking rewards.
maybe team can change the fee for claim rewards so we can pay it in 1inch token ?
for example if we claim 10 1inch rewards we pay fee 0.5 1inch ? or this is not possibile ?
Well, for me, to stake about 12r in 2 pools it took 300 USD fees! and now to leave those pools and claim rewards it will be another 300 USD.
It seems this is designed such way to draw high % and then cut on fees.
Btw do you know if staking program expires like 8-9 February, how it will work then? I suppose it should automatically get back to your wallet without extra fee?
Hehe, now it shows me about 500 USD fees to exit both pools. So looks like it will be always bigger then your profit. Looks like scam
This is standard eth supply/demand gas fee system. When Ethereum becomes crammed the price to fit your transaction in a block will naturally go up. The LP fee that 1inch actually charge is fixed at like 0.3% or something. My suggestion is to avoid the busy times to stake/unstake, such as ETH making ATHs hour on hour…
If you’re not trolling here and really considered making a complaint to the SEC on a DAO, maybe you shouldn’t be in this area of finance?
This is going to sound snarkier than intended, but judging by your username there is a better than even chance that this is simply a trolling attempt. In the future BEFORE you commit funds to a liquidity pool you need to read and ask questions…before acting
Here is a link to the 1inch help section that is relevant to your question: Guides | 1inch.exchange - Help Center
I’d like to suggest 1inch team to show estimation of balance required to break even before making any stakes.
That’s going to be fair to users.
This bad looking shit is the cancer of all ERC20 based ecosystems.
It hits only small players, who bring decentralisation.
And something have to be done.
1inch team have done a lot to shrink it’s influence.
But we all together can do even better.
would be good for you to stack up on Chi tokens for now, until they find a way to integrate the chi tokens into each trade (like a gift for using the 1inch service). that way you can save on your eth fees…also always try to look at the gass tracker to see what you can pay to save some money on eth, if time is of no importance, lol
How do you get Chi tokens?
I am not really agree with you, because I already compared it with the other such as uniswap, moonswap etc. it cost different fee even with the same pair for example ETH-1inch. You can try it by yourself.
You disagree that ETH has a supply/demand system for transaction cost?
Uniswap LPs have same 0.3% fee that go to providers. Interacting with a new LP contract requires unlock gas as well. Everything else is Ethereum gas cost to interact with the blockchain to do what you want.
Are you even talking about LPs/staking here? Please educate yourself on this stuff because asking stupid questions.
You should educate yourself dude, I have been using ETH Blockchain since 2017, You can see in thoose pictures that I have been tried to swap ETH-1Inch from 3 different platform, with the same GWEI which is 100 GWEI. It is clear that 1inch exchange has the highest fees worth $108 compare with Moonswap and Uniswap. As we know that we cannot change the gas limit because it will be run out of gas and our transaction will be failed.
Note: I already activate CHI token to reduce the gas fee on 1Inch Exchange.
This thread is about staking and unstaking 1inch and/or LP tokens, not transferring. All I can say is that gas limit is lower on moonswap for you as you have already interacted with there LP contracts and have unlocked that path, therefore cheaper. There are many variables to consider for a gas price then just token in token out.
Cmon broo, It has the same for staking, because both of them are using ETH blockchain. You should learn more how ETH blockchain work and how fees are applicated. As you say that there are so many variables that make the prices highest in 1inc exchange, one of them is unlocking thing that you cannot find in the other platform. So it can be removed too. Also the gas limit are increased by the governance of 1inch exchange. I see that they wanna make the fees are double, even in staking or swap token. You will understand what I said when you already know how ETH Blockchain work, especially about fees, gwei and gas limit. Also, if you think that staking in 1inch Exchange is profitable, then go on. but for me there are so much fees that makes our staking are less profitable. cheers.
Your screenshots show the same gwei, with different gas limits, which means that they have different blockchain weights to do the same thing. This can only mean that the higher limits have more interaction to get the same result (unlocking contracts, multiple LPs etc) or could just be less gas efficiency comparably for that particular trade (such as ERC-223 contract inclusions). You always have to unlock a contract address the first time you use it, 1inch just displays this while others don’t and just add it to gas limits. You seem to be suggesting that 1inch is somehow taking a part of your gas fee…
More then likely this is just your address needing to unlock pool addresses for the first time.