Nearly 12% transaction fee on the ERC-20 platform!

[Miaallen]

High gas fee is what will eventually kill ERC-20 blockchain if ethereum doesn't do something about it on time before People start to see another cheaper and we'll secured blockchain to migrate their projects to. One of the supposed benefits of blockchain technology is that you make transfer of funds all over the world with little charges or fees but we now see the opposite in the ethereum network which I see as the most used blockchain network.

[DoubleAweSeven]

Pretty stupid thing to do especially that this is an obvious trap ploy by those developers. I just cant believe how easily people is blinded by this sales that they are willing to do anything to invest into promises. Not everyone would buy that hype, only newbies who is naive.

[jrrsparkles]

Hey folks,

Today I was really surprised when traders are willing to pay nearly 12% transaction fee to get slot to buy token of SpiderDAO.
As far as I know the way to join SpiderDAO's Presale is first come first serve, only 100 fastest people are chosen to buy tokens.  So traders must choose Gas price more than 500 wei to scramble for slots.


Here's a picture I gathered from a member of SpiderDAO Presale's participation

What do you think about Defi's hype this time?  Why are people willing to pay such a large fee like that ? 

Probably someone from the team himself buying it to give a hype to their names

We are still in the DeFi hype? I thought we moved to next stage of cryptocurrencies bullish season.

[satria157]

I also feel the same way, this year eth gas has experienced an expensive increase, especially this month which went up very crazy, then what about the projects that are still using the ETH platform? maybe they will switch. With the BSC platform, it is possible to replace the ETH platform if the shipping costs are still expensive

[poodle63]

Same thing when alt or btc pumps, people want to get their coins confirmed first just to cash out.

Whenever there's something like this, a chance to multiply money people will become greedy and willingly to put out some additional money but to get more money back.

Though, these kind of presale doesn't really guarantee that there gonna be profit. I wonder what really makes them confidence with the result they gonna get while all of this is uncertain.

[TastyChillySauce00]

What do you think about Defi's hype this time?  Why are people willing to pay such a large fee like that ? 

It's not only caused by the defi hype but the ethereum is so crowded a few days ago. People are still willing to pay the large fees caused by with the assumption if they can make 100% return from there and it will be worth for them to pay large fees to secure their slot.
I have paid a few dollars to create a single transaction and that's a lot.
The defi hype is over right now.

[Paycoinzzz]

The impression is too excessive, whatever is offered may not necessarily come true.
for me personally would not dare to participate in an event like that.
by the way does anyone know what exactly they have to offer?

They don't offer us anything to do, just that those who are inside the whitelist have to go one step, called GAS WAR!
Currently, the trend of Polkadot is really making a positive impact on the investor community. Perhaps that's why they accept hundreds of dollars of fees just to participate in projects on the Polkadot ecosystem.

By the way, sorry everyone so much for now I have free time to go back to my post to discuss with you. Thank you very much for your opinion so that I can better understand the current market sentiment.

[ankitrami111]

The impression is too excessive, whatever is offered may not necessarily come true.
for me personally would not dare to participate in an event like that.
by the way does anyone know what exactly they have to offer?

They don't offer us anything to do, just that those who are inside the whitelist have to go one step, called GAS WAR!
Currently, the trend of Polkadot is really making a positive impact on the investor community. Perhaps that's why they accept hundreds of dollars of fees just to participate in projects on the Polkadot ecosystem.

By the way, sorry everyone so much for now I have free time to go back to my post to discuss with you. Thank you very much for your opinion so that I can better understand the current market sentiment.

www.tricksburner.com

[Bitbtc8]

That's way beyond the real ERC20 smart contract transaction fee, it's still around 10$ to 12$ to send out tokens to another wallet, I believe the team of this Spiders so intentionally increase the gas fee since they want only very few people to have access to the presale offer, it's their doing not Ethereum blockchain

[TofuDefi]

High gas fee is what will eventually kill ERC-20 blockchain if ethereum doesn't do something about it on time before People start to see another cheaper and we'll secured blockchain to migrate their projects to. One of the supposed benefits of blockchain technology is that you make transfer of funds all over the world with little charges or fees but we now see the opposite in the ethereum network which I see as the most used blockchain network.

Well, TRON is good alternative to Ethereum right now. I use USDT only on TRON chain last few months.