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1/I see lots of shilling today regarding $tBTC so it's time for a small thread from the perspective of a user as to why $renBTC through @renprotocol is better.
This thread is not meant to undermine tBTC as I which them the best, but as to what is more convenient for me as a user
This thread is not meant to undermine tBTC as I which them the best, but as to what is more convenient for me as a user
2/ I had exactly 0.0945 $BTC on an idle wallet that I wanted to bring to Ethereum to purchase some $alts since the liquidity is deeper on the ethereum network and it is giving me a better price even with gas than on Binance. I decided to use @keep_project bridge to try it out
3/ But here is what happened:
1. I had 0.0945 $BTC which means I was not able to mint my desired amount because lot sizes are either 0.01 or 0.1. It means that I would have to do 9 transactions to get SOME of my desired BTC into Ethereum.
1. I had 0.0945 $BTC which means I was not able to mint my desired amount because lot sizes are either 0.01 or 0.1. It means that I would have to do 9 transactions to get SOME of my desired BTC into Ethereum.
4/
2. The gas prices for a 0.01 $tbtc mint were outrageous at $68 USD with gas prices at 133 GWei for fast.
So now imagine doing 9 x 0.01 tbtc mint transactions.
That would amount to $612.00 in transaction costs ony.
2. The gas prices for a 0.01 $tbtc mint were outrageous at $68 USD with gas prices at 133 GWei for fast.
So now imagine doing 9 x 0.01 tbtc mint transactions.
That would amount to $612.00 in transaction costs ony.
5/ Now, why would me, as a user, spend 60% premium to bring about 0.0945 BTC to ethereum through Keep when I can mint the same amount at http://bridge.renproject.io for $6 gas at 133 gwei for fast transactions ?
