Crypto

Adjusting to the Terra Network Fees after Polygon/Matic Network

By I simon | Crytpo_Adventure_by_Ira | 6 Aug 2021


   It has taken me several weeks to realize that I need to be much more careful with Fees / Transactions costs than I was on Polygon network. This article is for those playing with hundreds of dollars vice thousands of dollars. The fees on Polygon are so very small and would not be a significant factor in anything I tried. I could harvest a few dollars in a tokens, convert them to new tokens and then reinvest / compound.  If i try that here on Terra, I will be in the negative.  Some of my first staking rewards were not viable to collect. They were under the transaction fee to harvest. Even investing a few hundred into Anchor protocol requires over a week to cover protocol / transaction fees at ~ 20% interest.

   I love Terra Network and its protocols but now I am very careful on what and when I do something about how long it will take to make financial sense. This would be a very different article if I had spent more time on most other networks. The problem is being spoiled by Polygon Fees.

 

Please review my past articles on my Blog https://www.publish0x.com/crytpo-adventure-by-ira

 

 

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I simon
I simon

New crypto investor & avid photographer


Crytpo_Adventure_by_Ira
Crytpo_Adventure_by_Ira

My lessons learned by actually using Blockchain Networks and Defi Applications

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