As of 3 June 2020 Argent is introducing a fair use policy for gas (Ethereum transaction fees). This post explains what Argent pays for on your behalf, and which transactions are not included.
Our aim is to align smooth user experience, long-term economic sustainability, and incentives to minimize Ethereum network congestion. We will never profit from gas.
What is gas?
Gas is a variable fee, paid in ETH, for computational power on Ethereum. Every transaction that happens on Ethereum requires gas. The gas is paid to 'miners' who help to process and secure what happens on Ethereum. You can read a fuller explanation here
Argent and gas
Argent is committed to making crypto as easy as possible. We therefore handle much of the complexity for you. Our fair use policy for gas explains what we pay for and what you pay for.
Argent's fair use policy for gas
In short, we pay the gas for many features but we'll no longer pay the gas for every exchange and DeFi interaction, as explained below.
Argent is paying gas for
- Transfers of ETH, ERC20 tokens and collectibles
- Security, such as adding a Guardian or changing your daily limit (these are all on-chain transactions that require gas, as our security model is blockchain-based)
- Aave (subsidized by Aave)
- PoolTogether (subsidized by PoolTogether)
Argent is NOT paying gas for
- Uniswap V2
- In-app token trading with Kyber
- Maker DSR
What we cover in DeFi will evolve as we collaborate with partners that wish to subsidize the gas needed to access their projects.
How to see what gas you're paying?
If your particular DeFi investment requires gas, you'll see it clearly in the app before the final confirmation screen.
For simplicity, we'll automatically pick the gas level required based on network conditions. We'll always ensure the transaction goes through, and will even resend it at higher prices and pay the difference if required.
Congestion & minimum investment size
At times of high network congestion and high gas prices, there may be minimum investment sizes. The risk otherwise is that people make transactions where the fees are a large proportion of the total trade size.
The minimum is 0.2 ETH.
We will see if we can lower or remove that minimum as soon as we implement a system to help people avoid making trades where the fees comprise a large part of the value.
Do you need ETH to pay for gas?
To simplify the process, you can pay the gas in multiple tokens: ETH, ZRX, BAT, REP. DAI, USDC, USDT or WBTC.
Abuses of the policy
Argent reserves the right to stop subsiding gas for users who abuse our relayer service, for example by using free transactions through Argent to mint gas tokens.