← Back to News
L1 Outbound Fee Updated
September 01, 2022 #News #THORChain

L1 Outbound Fee Updated


Following the conclusion of voting by nodes on THORChain, the minimum L1 outbound fee has now been updated from  -1 → to 100000000

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.

The cave you fear to enter holds the treasure you seek