Excited to share that XY Finance has lowered the cross-chain transaction fee to offer users with an even better cross-chain experience 🔥 In this XY Blog, you can delve into details of fees incurred while swapping via XY Finance. Aside from lowered fee, the main value proposition from XY Finance is that with smart routing and by having our own bridge (yBridge) we can offer the best route as well as price quotes for users and provide the best cross-chain experience compared to other cross-chain protocols!
There are a few kinds of fees incurred during the swapping process, and more often than not they include the gas fee, the swap fee charged by XY Finance, and/or the swap fee charged by aggregators and decentralized exchanges.
- Fee Structure describes how XY Finance charges for our services, laying down policies in advance and making transactions via XY Finance transparent.
- Users are able to roughly estimate the cost of a transaction depending on the level of service desired and the formulae given below as reference. Users can also see the details of fee incurred before swapping on XY Finance.
How fees are incurred in relation to XY Finance abides by the formulae as follows:
Fee = Amount *fFee=Amount∗f
- A small portion of fees is taken as a basic commission (XY Fee). Note that one can imagine the f in the formula below as a constant, or a percentage figure by which any transaction amount (trading volume) should multiply, usually determined by XY DAO
- There are lower and upper bounds in the Fee Structure to ensure that XY Finance can afford gas fees and will not impose any surcharges upon users.
- You can envisage that the Fee Structure constitutes a range, and the ceiling of the range is called an upper bound (i.e. maxFee), the floor of the range a lower bound (i.e. minFee).
- If the trading volume multiplied by f is less than the minFee, then XY Finance will still charge the minFee as a basic commission.
- If the trading volume multiplied by f is more than the maxFee, then XY Finance will only charge the maxFee as a basic commission.
|Ethereum||0.035%||1,000 USD||15 USD|
|BNB Chain||0.035%||1,000 USD||0.5 USD|
|Polygon||0.035%||1,000 USD||0.19 USD|
|Fantom||0.035%||1,000 USD||0.19 USD|
|Cronos||0.035%||1,000 USD||0.5 USD|
|ThunderCore||0.035%||1,000 USD||0.19 USD|
|Avalanche||0.035%||1,000 USD||0.5 USD|
|KCC||0.035%||1,000 USD||0.19 USD|
|Arbitrum||0.035%||1,000 USD||0.5 USD|
|Optimism||0.035%||1,000 USD||0.5 USD|
|Astar||0.050%||1,000 USD||0.19 USD|
|Moonriver||0.035%||1,000 USD||0.19 USD|
|Klaytn||0.050%||1,000 USD||0.19 USD|
The table above represents the fee that will be incurred from the target chain. Other specific chains will incur fee when it’s selected as a source chain as well.
The major difference here is that we consider not only the target (tgt. for short) chain but the source (src. for short) chain. Another difference that’s also worth your attention lies in the fact that maxFee is 1,000 instead of 2,000 USD. Below is the table that explicitly shows the minimum XY Fee required for the four Networks as a source chain and a target chain respectively.
|Network||f||minFee (src. chain)||minFee (tgt. chain)|
|Ethereum||0.035%||15 USD||15 USD|
|BNB Chain||0.035%||0.5 USD||0.5 USD|
|Polygon||0.035%||0.19 USD||0.19 USD|
|Fantom||0.035%||0.19 USD||0.19 USD|
Next, from the table below we can see that swapping from, for instance, BNB Chain to Ethereum with Multichain would charge 15.5 USD as XY Fee.
|src. chain \ tgt. chain||Ethereum||BNB Chain||Polygon||Fantom|
|Ethereum||15 + 0.5 USD||15 + 0.19 USD||15 + 0.19 USD|
|BNB Chain||0.5 + 15 USD||0.5 + 0.19 USD||0.5 + 0.19 USD|
|Polygon||0.19 + 15 USD||0.19 + 0.5 USD||0.19 + 0.19 USD|
|Fantom||0.19 + 15 USD||0.19 + 0.5 USD||0.19 + 0.19 USD|
|Target Chain||XY Fee|
Again, users can also see the details of all fee incurred included in the price quote before swapping on XY Finance. The team is proud that with lowered fee, XY Finance can offer an even more competitive cross-chain swap experience for our users! If you have encounter any issue or have more questions regarding the fee structure, feel free to team out to XY Finance team by opening a ticket on Discord!
About XY Finance
XY Finance is a cross-chain interoperability protocol aggregating DEXs & Bridges. With the ultimate routing across multi-chains, borderless and seamless swapping is just one click away.