Crypto

Terra Network Fees Compared to Polygon/Matic Network fee

By I simon | Crytpo_Adventure_by_Ira | 7 Aug 2021


   I wanted to follow up on yesterdays article with a few examples to highlight the difference in Fees. I will compare depositing $200 UST into Anchor protocol for a short term place holder to earn interest with harvesting, converting tokens, and then reinvesting them on Polygon. 

 

Anchor Protocol Example

     Earn rate: 19.49%

     Deposite 200 UST - Transaction Fee = 1.3 UST

     Withdrawal 200 UST -Transaction Fee = 0.25 UST

     Total Fees = 1.3 + .25 = 1.55 UST

 

     Earned Interest per Year: 19.49% * 200 = 38.98 UST

     Earned Interest per Day: 38.98 / 365 = ~ .11 UST

     Days interest to recover Deposit / Withdrawal Fees =

          1.55 / .11 = ~ 14.5 days

 

Polygon Example

     Harvest 0.223 Dino from DinoSwap - Transaction Fee = .000341915 Matic ($0.0004)

     1nchSwap Dino -> wMatic - Transaction Fee = .004424735 Matic ($0.0052)

     Deposit wMatic into Solo.Top- Transaction Fee = .000403581 Matic ($0.0009)

     Total Fees: ~ $0.0065

 

   As I stated yesterday:  "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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