What can we do to lighten the gas overload?
Serious Question Guys, Attempting to be Proactive, Not here to Complain…
Gas is the main reason why some people dont return to Uniswap…
There must be a solution!
(Lets work it out!!)
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I think the overload in gas fees is basically from the ethereum network…correct me if I’m wrong, though Uniswap can still make some adjustments. But I know of some Dapps whose gas fees are relatively higher… you might want to checkout Dy/Dx, LON, etc.
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Yes, gas is an issue, smaler trades are not worthwhile during network congestion. But as long as uniswap is on mainnet I don’t see much room for improvement. Honeyswap (an uniswap clone) is on xDAI chain and trading there is very cheap but they didn’t catch much volume. Also you need to bridge your token from mainet to xDAI and back whereby additional fees accure.
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In another post i asked, if batching of votes is possible. Batching itself is a solution, but must be implemented. Small transactions and small votes do not make sense atm.
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Using WETH instead of ETH for trades saves you approx 15%-30% on every trade AFAICT.
Few people know the trick, maybe Uniswap could make this tip more public before the next gas congestion era (probably very soon).
Of course, the caveat is that you always need ETH for gas, as WETH can’t used used to pay for txes.
I’m not a dev, but I’ve been told Uniswap has massive gas optimisation already. Might explain why it always seemed cheaper (to me) than all the competition (incl. non-aggregator DEXes like Balancer)
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not sure what you mean by batching votes? It would make sense if there are many different things to vote on, like the weekly polling votes at Maker, but here we haven’t so many votes you can batch.
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Great to know, thanks dude!
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Everyone signs his transaction, but the contract e.g. for a deposit into a uniswap pool is only executed once a treshold is reached. Batching could be executed on two rules: Either 12 pool deposits come first or 8 hours passed since the oldest deposit request. If one rule is triggered, all signed deposit requests are packed together in one big contract execution. Everybody involved needs to pay, but much less.
Same goes for voting on governance. Dont execute immediate, wait for votes of small uni amounts to pack together.
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ok, yes now I see what you meant. Not sure however if the bundling of deposits might save much cause every contract has to be still executed for every user. But maybe somebody with more inside in the contracts can aproximate this. If it seems to save substatial amount of fees and programming is feasable I would appreciate this.
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I attempted this , and it seems to have charged me extra lol ?? Am i doing it wrong lol
Much Appreciated
RESPECT
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No need to attempt it. Just use the WETH you already have and simulate prices vs a ETH swap, then compare gas costs… Last time I tested the discount was between 10% and 30%… Maybe it’s not always the case ? Would love to see input from the Uniswap team…
What about layer 2 solutions such as rollups or look into implementing Gastoken?
GasToken
Basically, it’s a technology allowing you to tokenize gas. It is a more liquid form of gas because it can be bought and stored at times when gas is cheap and released (spent/burnt) when gas is expensive
GasToken takes advantage of the “storage refund” on the Ethereum network. Smart contracts are designed to store data forever. Ethereum pays for freeing up the data saved previously while storing GasTokens. This refund is enough to cover up to a half of the transaction cost. Therefore, while others execute their transactions by paying the full market gas price, those who previously banked GasTokens, burn these tokens back to the smart contract and get a refund that covers up to 50% of their transaction fees.
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Welcome on the forum, @dxiri !
Gas token will soon stop working from what I’ve heard. It’s basically a cheap hack and it’s detrimental to the network. It has a bad reputation.
The next iteration of Uniswap (v3) could introduce L2 functionality.
thanks for the warm welcome
If there is work ongoing already to introduce L2 functionality then that by itself will greatly reduce fees when implemented since volume will shift to v3 from v2, unclogging the network.
Didn’t know gastoken was frowned upon, 1inch uses it’s own gastoken (chi) as well, by what you are saying it sounds like they would need to move off of it.
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Definitely need to do something about the gas fees!! I’ve been saying that for awhile. That is what’s hurting Uniswap and ultimately driving down demand leaving to much supply.
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currently gas. it does not allow small entrepreneurs to use uniswap and the small ones are many.
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Hey I agree with the idea of developing a layer two solution, where u bring the tokens into another platforms n reduce the gas fee by performing the transaction in that layer under the rule of ur own smart contract
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The exorbitant gas fee is so off putting that I use Uniswap as a means of last resort or entry into a project I’ve researched. Gas fees has eaten away at much of my early profits simply because I didn’t understand gas fees till I checked my bill later. “Gasp** I spent how much to swap that?!”
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this is why i signed up here. gas fees are getting very high. in 2 days its gone from seeing lows of 50 4x that
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Not only that. Lost gas for uncompleted swaps is very common. Seems like I read a way to get it back. But who wants to spend all that time for $12. Needs to be more straight forward for adoption reasons. Sucks if you automatically run off a certain % of new users
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