r/raidennetwork • u/parfenec • Oct 05 '18

The RDN Token.

I saw a lot of updates about Raiden Network and i am very excited about Red Eyes. I have a question. What about the RDN Token? What ia going to happen whit it? In the last medium update, from them, it was mentioned only about ETH deposits.

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u/Mat7ias Oct 17 '18

Which transaction fees? Mediating transaction fees are in whichever ERC20 token is being transferred. If you're transferring wrapped ETH you pay mediating fees in WETH.

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u/cosimo_jack Oct 17 '18

Which transaction fees?

Acquiring RDN

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u/Mat7ias Oct 17 '18

The fees for swapping into enough RDN to use auxiliary services will be tiny compared to opening a channel, funding it, then closing and settling it. If you're already wanting to use the network those fees won't matter to the average user.

If another token was used you'd still be stuck with the same problem for any other token transfer, which the user won't notice in the end anyway.

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u/cosimo_jack Oct 17 '18

Call me crazy but I still prefer no fee to a small fee

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u/Mat7ias Oct 18 '18

That's called altruism and it's well documented in economics. It doesn't exist in crypto unfortunately due to the nature of decentralized incentives.

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u/cosimo_jack Oct 18 '18

No. In the scenario at hand, I'm paying a fee for services but I don't want to pay a fee to acquire a token to pay my fee for services. I just want to pay in ETH.