These high Ethereum gas costs have led to the evolution of newer, cheaper blockchains, such as BNB Chain, and Polygon.

At times, Ethereum fees can very high and significantly impact the profitability of trades/swaps. Thankfully, 1inch provides an ' Estimated Fee' to help you have an idea of how much gas you will need to pay for.įor example, as the Ethereum network and its market value grows in size, so do the gas fees required for transactions. Therefore, it is impossible to calculate the exact amount of gas needed before the transaction has been executed. The more complex the operation is, the more gas it requires to execute. The size of this gas fee is proportional to the amount of computation required to execute an operation ( not the amount of tokens swapped). Since the miners/stakers are providing this service at a cost, they require payment in the native currency of the network that they are putting time, energy, and capital into supporting. These operations carry significant costs (of both electricity, equipment, or capital) for the miners/stakers, who rely upon the gas fees to continue validating blocks. On the above blockchains, all transactions require a gas fee. If you don't have enough, check out this guide on topping up your balance. ***To ensure a successful swap, it is recommended to have an approximate amount of these tokens for gas (depending on which network you are using): Optimistic Ethereum: ETH (optimistic version) 1inch has integrated with 7 different networks, each of which have their own native token. Gas fees are always paid in the native token of the network that the transaction is taking place on. 100% of the fee goes to the miner/validator of the blockchain, and unless you are staking 1inch tokens, gas costs cannot be refunded. ***Please note: 1inch Network does not receive any portion of gas fees. Like gasoline for a car, blockchain gas fees are what allow a blockchain (ledger) to move forward in time. Depending on the consensus mechanism, this computational effort can be realized to the miner/validator as an electricity cost (Proof of Work) or financial stake (Proof of Stake). It is a monetary fee that compensates miners/validators of a blockchain in exchange for their computational effort of mining blocks. Gas is the lifeblood of any EVM compatible blockchain network. Why don't I have to pay gas fees when trading on a centralized exchange? Why can't I pay for gas with the tokens I'm swapping?

Swap reference miner