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Info about price of fees

#1

hi, I wanted to know if the fees were stable depending only on the market or are they in proportion to the amount you want to unshield?

if they were fixed which is more convenient?

Thanks

Outbound Network fees
#2

Incognito does not earn any fees when you unshield. There will be a small Incognito network fee to pay the validators, maybe 0.0000002 PRV or so.

The overwhelming majority of the unshield cost is determined by the market conditions of the external network. Thus it is not possible to set a fixed or proportional unshielding fee.

  • Unshielding ETH or an ERC-20 token?
    • Prepare to pay a fee starting around $80 or more because ETH gas fees are ridiculous (and will continue to be so during this bull market).
  • Unshielding Bitcoin?
    • Cheaper but still a little high, around $10-$20 at the moment.
  • Unshielding Monero? Litecoin? Neo? Zcash?
    • That’ll be a few cents or maybe a dollar or two.

Unshielding a coin that is not ETH, BTC or an ERC-20 token will be inexpensive. Anything else, especially ETH/ERC-20 will be … unkind to your portfolio balance.

[source]

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#3

OK thank you very much. so are the fees for ether always around $ 80 regardless of the amount? 1000 or 1000 dollar equivalent for unshiels

#4

Ethereum fees depend on a somewhat complex combination of transaction speed, processing complexity, mempool congestion and data size. The monetary amount of the transaction does not figure into the gas fees.

#5

ok. Is 80 already that much for the moment caused by the bullrun? is it a maximum almost? or can it be even more? sorry I’m newbbie.

#6

It could be more, a lot more. If the mempool clears out significantly – as it sometimes does during the weekends – fees can drop dramatically for a few hours. Then it’s sunrise somewhere on the planet, demand increases and fees go back up.

#7

Here’s another explainer describing how ETH fees are calculated.

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#8

Ok. It’s crazy :slight_smile: thanks

but if I wait and I am not in a hurry, can I find a favorable fee under 80? quite right? the important thing is that the fee is not in proportion to the sum

#9

Not exactly. Unshield transactions involve an Ethereum smart contract which governs the minting/burning of pTokens and their real-world counterparts. So you also have fees associated with the processing of that smart contract. Again if you wait (for a weekend evening) then check the congestion of the Ethereum mempool, you may find a time when the mempool has very little congestion. An unshield transaction during that period will be about as cheap as it will get during the bull run. You can’t exactly specify a lower gas fee, as you might with a traditional Ethereum only transaction, because of the bonding smart contract. But with little demand, miners will accept transactions for a lower fee and the Incognito smart contract will adjust it’s fee to a lower tier during that period to reduce cost. But it will still likely be in the tens of dollars.

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#10

Hey - just found this thread and wondering if it still accurate.

I am attempting to unshield ETH but the fee estimate is definitely correlated to the ETH amount. When I reduce the ETH to withdraw by 50%, the fee estimate also drops by 50%.

So, did something change in the fee calculation? Is Incognito now taking some revenue from this fee?

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#11

In addition to the gas fee, %0.3 is taken as unshielding fee to compensate unification cost of multi-chain assets such as USDT, ETH etc.

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#12

That matches the fee estimate I’m seeing. Thanks for explaining!

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#13

“unification costs?”

I’m getting a fee around 2% trying to unshield BTC right now.
This is a lot more than 0.3%, and there is no unification for BTC that I’m aware of.

Can someone explain this?
And where is there any notification of this additional fee?

The way the unshielding screen is now, it is literally hidden within the network fee. As far as the user can see, the only fees being paid are the PRV for Incognito network and the network fee for the coin being unshielded. @Jared?

Outbound Network fees
#14

Hello @wisco,

BTC is not a unified coin. We do not charge a fee for unshielding BTC. The fee shown is calculated at the time of unshielding.