DeFi Troubles

By Jelly Fish | cryptofun | 3 Dec 2019


Recently I've managed to handjob something about 14 BAT here on Publish0x. Being instructed by the best internet gurus, I installed Metamask browser plugin and successfully cashed my BAT pennies out there.

I didn't touch my pennies for some time, but one day I decided to make use of them -- swap them or stake them, or something alike. That's how my DeFi troubles have begun.

First, as you probably know when you install Metamask, you install it empty, i.e. without any coins or tokens inside. Only 14 BAT that Publish0x transferred to me generously paying the network fee.

The first problem was that doing anything with my BATs required ETH. Well, you can't even trade BAT for ETH if you don't have ETH in your Metamask beforehand...

So I managed to get something like 0.001 ETH. I had experience with Myetherwallet and I thought that 0.001 ETH was enough to pay gas fees. And it was indeed. Once.

I tried to transfer my BATs to Bancor wallet, several times -- and all transactions failed, no matter how much Gwei I paid for gas.

I decided that something was wrong with Bancor BAT address, and tried to send my BATs to Crex24 -- and the transaction failed again.

Because there's no refund of gas fees for failed transactions -- pretty soon there was almost nothing left of my 0.001 ETH in my Metamask.

So I decided to try Switcheo and swap my BATs to ETH there. Let Switcheo have the worst BAT/ETH price at the market -- at least I would then have enough ETH to pay for gas. I paid the "unlock deposit fee" (in ETH) -- and the transaction was successful! Blessed be the God Almighty, my BATs finally landed at Switcheo account ready to be swapped!

And guess what? 14 BAT is too little amount to trade on Switcheo...

I paid yet another "unlock withdrawal fee" of 1 BAT and my pennies were back into Metamask.

So, with all that wonderful crypto De-Fi technology I'm now exactly where I started, only 1 BAT and 0.001 ETH poorer...

WTF?

 

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Jelly Fish
Jelly Fish

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