Estimated Fees for PieDAO Transactions

#1

Hi everyone,

Being new to DeFi, I found that I have spent an extraordinary amount of ETH on gas…

Since the goal is to make Pies more accessible, it would be nice if users could be shown estimated fees for PieDAO transactions based on current gas prices (e.g. depositing into Oven, withdrawing from the Oven, staking BCP, exchanging tokens, etc.). That way users could make better informed investment decisions and know ahead of time how much it may cost.

Is something like this possible? I don’t think I’ve seen it on any other DeFi project yet…

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#2

Well if you follow the gas fee bot in the discord in the mean time that will help you. Also try Loopring.io. They don’t have a ton of liquditiy in DEFI+L, but it’s pretty cheap getting it over a period of time if you are comfortable leaving ETH in the Loopring wallet.

#3

I saw someone surprised by the fees when attempting to unstake BCP at 0.07 ETH on Discord… I think he/she wouldn’t have decided to stake BCP knowing that it’d cost that much to unstake.

I was also surprised by the fees when adding liquidity to Balancer for DOUGH/ETH. Some transactions require a lot more gas than simple transfers and that amount of gas is not very apparent.

I think giving users an estimated fee cost for each transaction would be helpful.

For example, for someone baking a pie in the Oven:

Estimated deposit fee at current gas price (100 gwei): 0.0075 ($13.18)
Estimated withdrawal fees at current gas price (100 gwei): 0.0075 ($13.18)

Total cost to bake at current gas price: 0.015 ETH ($26.36)

For someone looking to stake:
Estimated staking fee (85 gwei): 0.017 ETH ($29.88)
Estimated fee to claim rewards (85 gwei): 0.00255 ($4.48)
Estimated unstaking fee (85 gwei): 0.02125 ETH ($37.36)

The numbers above are just random numbers as an example, but I think users, especially those new to DeFi would appreciate seeing estimates. It can even be a range, but at least it would give users an idea of the costs involved.

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#4

Your right, it could almost be a ticker that sits in the exchange. Just calculates cost at that exact time. I think that the easier you make it the better. I have definetly lost a buck unstaking.

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#5

I think dynamically calculating it is going to be harder than we expect given oracle costs and non-linear pricing with higher volumes. I think something that is overdue overall is a public facing dashboard for PieDAO detailing the historic record of:

  • Bakes
  • Costs
  • Stakes
  • Unstakes
  • Rewards
  • etc.

The chain is completely public. The data aggregation and formatting is a pain, but once you do it once, it scales forever. Instead of trying to estimate these costs, we can just look at previous actual costs.

What did the last person who unstake pay to unstake? Ok, 4 hours ago someone unstaked BCP and paid 0.008 ETH.

Right now PieDAO is still really small, DOUGH is < $20M MC, so the data shouldn’t be too insane given the number of interactions.

If you like this idea, post it on discord and we can talk there with more people before making a formal proposal.

3 Likes
#6

I think the estimation tool on www.gasnow.org is really good, maybe we can use their API?

#7

I don’t know that tool, at a high level, I recommend data collection occur as close to the source as possible. But if that site is robust / trusted / widely used it couldn’t hurt to investigate more.