Thread by @CryptoBiased, 1/xMy http://fees.wtf has been 6 figures for longer than I care to [...]

Crypto ₿iased

CryptoBiased

1/x

My http://fees.wtf has been 6 figures for longer than I care to remember, but I try to factor those costs into my investment decisions.

There's been comments regarding the $eRSDL launch being only beneficial for whales, so I'm running a test during 300 GWEI+ peaks:

STEP 1:

Create new wallet and send $6,000 ETH -

STEP 2:

(where the screenshot begins - from the bottom tx)

Market BUY $eRSDL because that's what agents do!

$5,000 ish -

($144 fees)

STEP 3:

Visit http://lending.unfederalreserve.com to supply 100% of the $eRSDL I bought.

Enable / Approve -

($60 fees)

STEP 4:

Supply 100% $eRSDL -

($226 fees)

STEP 5:

Enable $eRSDL as Collateral -

($124 fees)

STEP 6:

Borrow $wBTC from the platform -

($385 fees)
*50% my borrow limit*

STEP 7:

Enable / Approve $wBTC to Supply -

($48 fees)

STEP 8:

Supply 100% $wBTC -

($209 fees)
*this obv reduces the 50% borrow to 30%*

STEP 9:

Immediately regret STEP 1, as $1000 extra for fees is not enough, as the total is fees for all these tx's is $1196.

Begrudgingly, I visit http://fees.wtf again to see if it moved, then send more $ETH to cover fees.

*Second to last tx reading from bottom to top*

I'll report back after Rewards have been depleted, but so far I've earned 2 #howies while writing this tweet.

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