How Much Gas Should You Set To Operate On DEXTF?
Mint, invest in and redeem XTFs with confidence
As more people realise how powerful the Ethereum network is with all the value being created through DeFi and NFTs, paid gas prices have become a rather bizarre status symbol.
Our Chief Scientist Marco Marchioro wrote about the methods used to find the best time to save on gas back in August 2020. You can have it a read here.
A lot of stuff has changed since then. DeFi TVL has gone up indicatively by 7x (Source: defipulse.com), thanks to trillions in government stimulus packages that have no intention to stop dripping into everyone’s wallets until the economy can evidently stand up by itself.
All this has made blockchain transactions such as smart contract interactions prohibitively expensive. Layer-2 are being considered across the industry, and at DEXTF we’re also looking at the different options that the market is currently offering.
As an asset management protocol, we understand that such costs are extremely sensitive as it may adversely affect platform usage despite the several intended benefits of creating tokenized portfolios.
Many users have been reporting that it was difficult to gauge the gas limits to set for a specific operation such as launching a new fund, investing in an existing fund (using wallet assets) and redeeming from a fund (asset to wallet via the Dapp).
Thus, we proceeded to analyse all the transactions of the launch, investment and redemption for which gas was spent on the DEXTF Dapp since we went live.
Based on the results, we have compiled a quick reference table that shows the Maximum Gas Limit* used for each operation type.
In the next few days we will change the Dapp's default values.
Of course you will still be able to set your own value in the Dapp's Gas Station and MetaMask.
We will also do a similar analysis for the Approval transactions. Stay tuned for that!
*The Gas Limit indicates the maximum amount of Gas you’re willing to spend on a particular transaction. There is no exact formula to determine the Gas Limit to set the various operations; nevertheless, based on the analysis of past transactions, these are the recommended values:
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