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Ethereum network fees (gas): what do you need to pay?

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This post covers what Ethereum network fees (gas) you need to pay for in Argent, as well as what we cover on your behalf. It will evolve over time.
 

Our aims in helping you navigate network fees

We want to align:

  1. Smooth user experience.
  2. Long-term economic sustainability.
  3. Transparency on current network fees.
  4. Incentives to minimize Ethereum network congestion. 

It's important to note that we do NOT profit from network fees.  

What is a network fee (gas)?

The Ethereum network fee is a variable fee, paid in ETH, for computational power on Ethereum. Every transaction that happens on Ethereum requires network fees. The network fee is paid to 'miners' who help to process and secure what happens on Ethereum. You can read a fuller explanation here. 

Currently, the following features are free (we cover the network fees)

  • Security, such as adding a guardian or changing your daily limit (these are all on-chain transactions that require network fees, as our security model is blockchain-based)

You need to pay network fees for:

  • Wallet creation: Each Argent wallet is a smart contract built on Ethereum. This means it requires network fees to create. You will pay for these from your first deposit. Read more.
  • Transfers of ETH, ERC20 tokens and collectibles
  • Decentralized finance integrations, e.g. Uniswap, Aave
  • WalletConnect
  • In-app token trading 

How to see what network fees you're paying?

As you go to make a trade or transaction in the app, you'll see a label with the network fee before the final confirmation screen. 
 
You can tap the network fee to choose between three options that vary on price and confirmation time.
 
We'll always try our best to ensure the transaction goes through, even resending it at higher prices and paying the difference if required. 
 

What tokens can I pay the network fees in?

You can pay in a range of ERC20 tokens, which we then exchange for ETH under the hood. These ERC20 tokens include: ETH, DAI, USDC, or USDT. 

Does Argent profit from network fees?

No. The funds go to miners that process the blockchain.

Do failed transactions still require network fees?

Yes, unfortunately this is the case for every Ethereum project. To minimize the risk of failed transactions we automatically pick the gas price required based on current network conditions, as mentioned earlier.

Abuses of the policy

Argent reserves the right to stop subsiding network fees for users who abuse our relayer service, for example by using free transactions through Argent to mint gas tokens.

 
 

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