Following the conclusion of voting by nodes on THORChain, the minimum L1 outbound fee has now been updated from -1 → to 100000000
All L1 swaps now pay a *minimum* of $1.00 outbound.
— THORChain (@THORChain) September 1, 2022
This is due the the recent change to deprecate 1of1 vaults and put all tx through TSS vaults.
It also means more revenue for the network.
Note: bottom right corner, Outbound Fee 0.9999 BUSD https://t.co/PQA6677gXu pic.twitter.com/jv19nsNe4B
This means the minimum fee a user/swapper can pay for an L1 outbound transaction is $1.
Previously (pictured below), a swapper pays the minimum outbound on-chain fee for a transaction. This example below is a user swapping from $RUNE to $BUSD paying outbound fee of $0.1094. With the recent update, the fee charged will be a minimum of $1 instead, regardless of the L1 chain.
This also means more revenue for the network and go a long way in buffering up the reserves.
