Transaction Fee Increased For Stellar-BSC Bridge

#1

Starting February 13th 2023, transaction fees for Stellar-BSC bridge shall be increased from 50 TFTs to 100 TFTs… Please refer to the following details to understand how these changes may impact your transaction costs and why the increase is happening.

What’s changing and why?

Transaction fees are charged to cover the cost of bridging tokens between Stellar and BSC which is borne by the person who is making the transaction. The fee has been increased to cover the transaction costs which currently are insufficient to cover the operational cost on our end.

The transaction fees shall be deducted from the amount you transfer. For example - If you send 1000 TFT from Stellar to BSC, the transaction fee charged would be 100 TFT, so you will receive 900 TFT.

Fee Summary:

  • Transactions from Stellar to BSC costs 100 TFT (changed).
  • Transactions from BSC to Stellar cost 1 TFT.
  • There is also a fixed fee of 0.01 TFT when making transactions using official TF platforms.
  • Gas fees on BSC is usually around 5-20 Gwei. You can try the bridge later if gas fees are high at the moment of your transaction.

Will transaction fees change in the future?

As the exchange rate of the TFT changes, the transaction fee will be changed in order to reflect the sufficient transaction cost.

What are the alternatives for sending TFTs from Stellar to BSC?

There are no alternatives. TFTs from Stellar can be sent to BSC only using the Stellar-BSC Bridge.

How to send TFT from Stellar to BSC Chain?

Read the post here

If you have any questions, please feel free to reach out to us on the live chat in the ThreeFold Connect app or on our website.

5 Likes
#2

Thanks for the update, @ashishbansal :pray: Loud and clear

#3

Thanks for the update @ashishbansal

I updated the FAQ on the Forum and on Github, and also the Farming Guide, to take into account this change.

The changes on the FAQ’s Library will be soon effective, once there is an upload (usually once per week or so).

1 Like
#4

In the last couple of days in the chats, there has been some feedback on the bridge fees considering the price surge.

Reading this post 1 year later, I wonder if we could change the bridge fees, in the case where it would stay over 10 cents, which is 10x the price of when we decided to put the bridge fee to 100TFT:

image

What do you guys think?

#5

This fee should be reduced. I think the Ethereum-Stellar Bridge also has a high fee. It is currently 2000 TFT (Stellar to Eth).

#6

We opened an issue to reduce the fee: https://github.com/threefoldfoundation/tft/issues/274