Gas fees are skyrocketing again, do you know someone is speculating on it?
Editor's Note: This article comes fromHot Wheels Community (ID: FHBT18), Author: Pepe, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Hot Wheels Community (ID: FHBT18)
Hot Wheels Community (ID: FHBT18)
, Author: Pepe, reproduced by Odaily with authorization.
Hello everyone, I’m Pepe. Recently, the Encryption Village has become really lively. Mr. Wang’s defi class has been opened to help farmers. As long as it’s 1980, if you can’t buy it at a loss, you can’t be fooled. ; A sister who has not seen for a long time also began to appear on the cover of posters spread among the community; there is also the most famous "counter-pointing" starling in the whole currency circle, who has also spoken again. of.
The crooked nuts on the other side of the ocean are even more excited, because they all know that Chinese agriculture is very good, haha, just kidding, I see that in addition to discussing various food codes in the streets and alleys, the gas fee may be the most complained about.
With the growth of the population and funds pouring into various "agricultural products" in the encryption village, compared with the wave in August, the gas fee has risen to a more exaggerated level. The current quotation of the gas station:
The cost of a transfer transaction depends on the speed, corresponding to tens of yuan of soft sister coins (I cut this picture three times during the writing process, and it has been rising).
This is just a normal transfer between wallets. If you go to the exchange, there will generally be a surcharge, not to mention the complexity of the contracts on various Internet celebrity dexes, which need to consume more gas.
For example, a normal exchange on uniswap does not include the handling fee for market makers. The separate gas fee has reached about 0.044eth, which corresponds to almost 19U (130 yuan). Yes, this is not counting the handling fee that sometimes requires additional authorization on uni.
The contract on uni is relatively simple, but it may be even more exaggerated in the field of yield farming. Some people say that the gas fee for one day has exceeded the living expenses of his whole family, and my brother even spent a sum of money on curve. 190U [cover face].
I have seen and some friends are asking how much money is needed to be a DeFi farmer. In fact, this is very simple. You can calculate it according to this fee. The normal exchange fee is 0.2%. If you calculate it as a fee of 20U, That is to say, your mining funds for a single project should preferably be above 10,000U. If it is below this, you need to pay special attention to reducing the frequency of transactions, so as to prevent good agriculture from becoming wage earners for Ethereum miners.
However, the gas fee is high, and everyone is talking about it, but have you ever thought that its rise and fall actually corresponds to a coin, this coin is called gastoken, and the code corresponding to the ether is GST2.
I looked at the starting point of liquidity mining this year, its price was about 6.73U in mid-June, but today the price has increased to 170U, a 25-fold increase in less than 3 months.
This token is like this, the token is generated by saving a piece of data to the storage space of the GasToken contract, which utilizes a storage refund function in the Ethereum smart contract.
Because the resources on the chain are limited, there is such a mechanism. In order to encourage various contracts to delete useless storage variables (all nodes must store permanently), Ethereum will provide refunds when deleting certain storage elements. The payment can probably cover half of the gas fee used in the original contract transaction.
So the way GasToken works is:
When the gas price is low, save the data in the storage of the GasToken contract, create (or make) the GasToken token, and when the gas price is high (the period of network congestion caused by various speculations), you can send the GasToken token The return contract is destroyed and the previously saved data is released, which means that your new transaction will be refunded now, which makes it cheaper than the transaction without using GasToken.
Of course, this thing seems to be useless for ordinary transfers, and the storage and destruction of the contract also needs to be handled by scientists, but the tokens of his family use the erc20 standard, which can be freely transferred and traded.
So in my opinion, for ordinary users, it may be possible to rely on uniswap to buy low and sell high with the market heat to reduce some handling fee costs. Of course, there may still be some thresholds and problems. Let’s talk about it later.
A token similar to gastoken is Chi:
The picture above shows its fluctuations in the past few months. It can be clearly seen that there was a surge around August 12, and a new wave started recently, but it is weaker than the fluctuations of gastoken. This chi is made by the 1inch team. The principle is Almost, it is said to be a bit more optimized than gastoken, and his family has an introduction, you can take a look if you are interested:
Today I’m here to introduce a special token model. Don’t be too excited when you look at the curve above. This is not a wealth code, although their growth logic is still obvious. helps with the price.
But at present, it is still too biased. For example, the uniswap page I intercepted above gastoken, there are only 96eth in the liquidity pool, which belongs to the kind where you buy 1 eth, and it can make it rise by 1%. It is really a bit The feeling of being unable to buy or sell.
Another one, although if you don’t buy it, you can still go to contract generation to get it, but every time a token is generated, it will take up a part of the storage space in the network, and the gas resources of Ethereum are in the bidding mode, and the gas will change when resources are scarce. High, so the contract generation is equivalent to raising the gas fee in disguise.
I’m talking about it today because I saw that some overseas people are still speculative about it. The rise of these two tokens also shows this. They believe that once the defi agriculture collapses, they will definitely be interested in this gas-bound token. However, at the moment when those mining projects collapsed, everyone wanted to get back assets from pools such as uni and curve, which would cause a short-term gas surge instead.
epilogue
As for this piece, I think this idea is very interesting, but at the same time, this idea is also very dangerous, because this is not a product with sufficient liquidity, and we also hope that it is practical, not speculative.
So let’s just take the above as a popular science, knowing that there is such a target on Ethereum, that’s enough. If you look at the fundamentals of Ethereum such as 2.0, there is not much progress, and there is a possibility of network disturbance in the future, you can be a little bit prepared. Goods, saving some handling fees is also good.
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