Gas really sucks right now. Nobody planned for this to happen; this isn’t the ideal state of things. The whole network was much more usable a few months ago; gas prices were literally 90% cheaper. There are several very smart teams focused on solving this problem with their Layer 2 tech. All we can do is continue to focus on our core product and give them time to finish their work. Everyone is understandably frustrated right now, but the frustration is misdirected; there’s nothing that any DeFi protocol can do about gas costs except wait for L2 to be ready.
Sounds good…still holding my bal!
The problem is ethereum. Everyone was building dex and other projects using their blockchain language only to be screwed now due to gas fees. Eth is old blockchain and the smart money is on 3.0 blockchains like ada.
Hi, Quick question.
How are we getting the reimbursement? I’ve done transactions within the selected tokens but haven’t seen any BAL token extra on the claim.balancer.finance Thank you
If you make a trade during a week (00:00 UTC Monday - 23:59 UTC Sunday), then you can claim BAL on claim.balancer.finance beginning on the following Wednesday. As an example, if I made a trade on Monday, February 8, I would be able to claim on Wednesday, February 17.
The gas reimbursement is the same if I exchange 100$ token value vs 1000$ token value, or its based on gas fee paid the reimbursement ?
why wait? why not migrate to xdai or matic now?
While those technologies can be very useful for certain niches, they are side chains, not true Layer 2 solutions. Layer 2 inherits its security from Ethereum, whereas side chains security is completely independent; side chains typically rely on a somewhat more centralized DPoS or PoA consensus mechanism for speed. Therefore they work really well for some use cases where speed is paramount and decentralization is somewhat less important, like games or small payments. But it would be a very bad idea to migrate over a billion dollars’ worth of TVL onto a side chain.
It’s based on the gas fee paid to Ethereum miners, which is different from the swap fee paid to liquidity providers. Gas is the mechanism on Ethereum for paying to include a transaction in a block and is somewhat fixed - it depends only on the amount of computation performed in a transaction, and its price depends only on network demand; gas costs do not scale with trade size. So yes, a $100 trade will cost the same amount of gas as a $1000 trade and will receive the same reimbursement.
That is my use case problem with Etherium as I try to explore this case. As ETH gets higher it prices out the people it is suppose to enfranchise.
As adoption increases wouldn’t the decentralization of validators also increase with it? Do you know if these sidechains have roadmaps to become L2? I believe matic has a roadmap to include roll ups, this came out in their recent rebranding.
Instead of moving the TVL what about just the claiming balancer portion.
Ah, my mistake. I previously didn’t appreciate the full context of your comment and thought you meant migrating the whole protocol (billions of dollars) to a relatively untested chain. Moving just the claim portion would make a lot more sense and be a lot more feasible. That’s exactly the kind of niche for which side chains make sense, smaller funds at risk. But the whole liquidity mining system is going to change for V2 in just a couple months, so it doesn’t make much sense to spend time refining the current system on V1. V2 Liquidity Mining Brainstorming
Cool, so after v2 or during v2 this maybe something that’s considered
The V2 system is likely going to be a whole lot different overall and live entirely on chain via staking, so no, it probably won’t use L2. But it would be a lot more gas-efficient (and autonomous) than what we have on V1.
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Merhaba. Xend finance almak için swap yaptım . Fakat xend finance alamadım . Aynı zamanda 98 ETH kesinti yapıldı . Bunun iadesi olacak mı