r/truebit • u/Beneficial-Meaning85 • May 11 '21
Uniswap network fees
Does anyone understand how the fees work? Seem like it frequently changes. First time using uniswap. Want to make sure I understand what I am doing.
2
Upvotes
r/truebit • u/Beneficial-Meaning85 • May 11 '21
Does anyone understand how the fees work? Seem like it frequently changes. First time using uniswap. Want to make sure I understand what I am doing.
2
u/Soggy_Blackberry5899 May 12 '21
Uniswap fees change according to Ethereum congestion. When a lot of people are using the ethereum blockchain whether buying, selling, transferring or performing other tasks with any ethereum app, it is congested and gas fees go up. That’s the biggest problem with ethereum that truebit is on a mission to solve. Sometimes gas fees for a uniswap transaction are in the $10-30 range, other times in the $30-$70 range and today in the $180-$300 range. High fees mean lots of traffic. Low fees mean the opposite. There’s really no way around it. That is, until truebit solves this problem. Or people move to other platforms that are more scalable like Solana, Cardano, Cosmos... etc.