what's wrong with uniswap? - page 2.

Abiky

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Quote from: tvplus006 on September 04, 2021, 02:08:47 PM

The Ethereum blockchain is still in demand among developers. It is the demand for coins that are created on this blockchain that leads to its overload, which entails such high commissions. Therefore, it is impossible to refuse to use this blockchain, otherwise you will have to give up most of the coins that are present on the cryptocurrency market.

That's certainly true, mate. Ethereum is in high demand, so expect fees to go all the way to the moon. There's nothing we can do about this, other than wait for fees to decline or simply use an alternative blockchain network. Uniswap should rely on an off-chain scaling solution to lower costs and increase performance. Something like Optimism or Arbitrum should do the trick. Expect Uniswap to see a reduction in user base if fees continue to soar like there's no tomorrow.

One thing for sure is that ETH gas fees won't be high forever. The ETH 2.0 upgrade, Sharding and off-chain scaling solutions will make high fees and slow speeds a thing of the past. We just have to be patient in order to see great results in the future. With or without the high fees, Uniswap will be here to stay because of its decentralized and open source nature. Just my thoughts Grin

FinneysTrueVision

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The network has become unusable for small investors. Even for whales I imagine it has to be painful paying these exorbitant fees. With DEXs on other blockchains offering much higher APR and more features I wonder how long it will take before we see Uniswap start to lose it's dominance in the market in terms of TVL. PancakeSwap has already surpassed it in total users and it might just be a matter of time before we see a higher amount in locked value also.

Orange89

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The main problem of the Network is ETHEREUM growing gas fees so personally because of these reason i am also making very less transaction and in these week ETHEREUM Network is congested due to receiving a ton of request from the users because of such Huge gas fees many users are unable to swap we all should wait for Eth 2.0 but their is no idea when will it be launched on mainframe

Rabi3

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Quote from: cabron on August 30, 2021, 01:11:29 AM

It's been that high for a long time despite the update of the EP155 but I believe this is just for the swapping platform but if you send tokens to another wallet it's fine. The reason for the high fee on swapping platforms is because it's a complex transaction in which there are fees to pay to the liquidity providers and all that participated in the Defi platform.

currently, right when I am typing this post, to send a token on ethereum network it takes up to $39 according to etherscan, and for me that is really high, also if a token is only on uniswap being able to send it won't do anything for you, fees are really high there is no doubt about it.

ene1980

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

There is nothing that can be done by Uniswap regarding the fees, the Ethereum fees is off the roof and the hardfork is in motion and it will take long time to see the fees coming down, no idea how long it will take but for months you need to manage with these high fees if you are using any ERC 20 tokens. Many projects are providing multi chain options to overcome these situation.

ardentvolcanoes

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Quote from: Coin BTC on September 06, 2021, 12:41:54 PM

Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

Due to the high price of Ethereum, the transaction fees of the Ethereum blockchain are also very high. Transaction fees on Uniswap are also very high, so many investors who use Uniswap to exchange coins become stuck. And this is not the first time for the Uniswap platform. So many have switched to using the BSC blockchain decentralized platform.

But those who have that capabilities to continue transacting still using uniswap, they are
very aware with the fees but considering the holding that they've got compared to the fees
those traders are willing to gamble.

It's been an issue but still the same and no adjustments, ERC is now being compete by other
chain but there are still many investors and traders who keep their assets inside this chain.

it's up to the investors whether to switch or not, uniswap are just doing his job.

Evgenklm

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it's always like this, I haven't been going to swapalki on Ethereum for a long time, I'm not so rich to pay$ 40-50 for one transaction, the higher the price of Ethereum, the more expensive we pay for commissions, and there's nothing to do until they do a full update of ETH 2.0. I really hope that this will be decided very soon, I use analogues.

Cornia

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Uniswap is not to blame for this. ETH network is responsible for this. Uniswap is a popular DEX build on ETH network. If the fee of ETH network increases, the transaction fee of Uniswap will increase and if the fee of ETH network decreases, the transaction fee of Uniswap will decrease. Many small traders like me now avoid Uniswap for this insane fee.

Jackl87

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

That is not really the fault of Uniswap because they are built upon the Ethereum blockchain and a swap is a action that requires more than 1 transaction on the blockchain which is also the reason why a swap costs so much ETH for gas fees. When the gas fees are low it does not really matter that much because if you pay 2 or 5 dollars on fees for a swap is not that big of a different if you trade more than 100$ but in times of extremely high gas fees like during the time when the image you posted was made uniswap is almost unusable for normal and smaller trades. Who would make a swap that is worth 50$ if he has to pay 80 dollars in fees for it?

Coin BTC

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

Due to the high price of Ethereum, the transaction fees of the Ethereum blockchain are also very high. Transaction fees on Uniswap are also very high, so many investors who use Uniswap to exchange coins become stuck. And this is not the first time for the Uniswap platform. So many have switched to using the BSC blockchain decentralized platform.

Roman_Picisan

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Quote from: Boomber on September 04, 2021, 06:35:48 PM

I think the fees from Uniswap are very expensive, because the gas fees from Ethereum are currently very high, so it affects for the fees from Uniswap, but I'm sure when the gas fees from Ethereum have become low, then of course the fees from Uniswap will be low too, because Uniswap uses the network (blockchain) of Ethereum, so fees from Uniswap depend on the gas fees from Ethereum.

after what has been discussed you just need to wait when the network is not so busy, if you talk about the price of ETH, the price of ETH is also crazy at that time you just do it at the right time.

Flowzer

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

The networks are really busy and the ones that urge to swap on uniswap needed to spend so much fee to do it. Its a big problem to the network recently and i wouldnt expect any cure for that situation before ETH 2.0 comes.

umbara ardian

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The user demand on erc20 is huge, although you can see the fee is a lot, in fact many people are still willing to pay to get what they want, of course perhaps because of something like profit.
Personally, I feel it is a problem but not too serious, instead of trying to complain about it, we always have a lot of options available in this area.

senyorito123

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

I am avoiding uniswap during swapping my coins or tokens, that was such a disappointing transaction fee and unfortunately sometimes when it failed you'll be losing eth. My experience made me to devastated with their service, hopefully there's an action for this, that helps correct the underlying problems. Without any choice you'll be risking your gas even $20 you must allow it just to sell your assets.

Boomber

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

I think the fees from Uniswap are very expensive, because the gas fees from Ethereum are currently very high, so it affects for the fees from Uniswap, but I'm sure when the gas fees from Ethereum have become low, then of course the fees from Uniswap will be low too, because Uniswap uses the network (blockchain) of Ethereum, so fees from Uniswap depend on the gas fees from Ethereum.

tvplus006

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Quote from: Psynthax on August 30, 2021, 08:16:43 PM

Everything is very expensive with Ethereum and when the Ethereum needed for sending token reach more than $100 thats the time many people will decide to use BSC. I think it was because many transaction created for NFT and most of the NFT transaction use very high fee maybe because they want to have their NFT as soon as possible and it influence and make the gas needed very high. NFT is currently hyping again.
Recently its cryptopunk thats very hype because big company is buying NFT like this maybe because they got interested.

The Ethereum blockchain is still in demand among developers. It is the demand for coins that are created on this blockchain that leads to its overload, which entails such high commissions. Therefore, it is impossible to refuse to use this blockchain, otherwise you will have to give up most of the coins that are present on the cryptocurrency market.

H1N1

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Quote from: Roman_Picisan on August 29, 2021, 01:58:31 PM

recently uniswap reported about the fee on 27/8/2021 with a fantastic fee price, because many altcoins use uniswap swaps, What do you think?

Unbelievable! 500 gwei for transaction fee is too much for me. Better to wait for a good time to submit the transaction on ETH network.
Many altcoins are using uniswap indeed, but they actually can using pancakeswap on Binance smart chain to avoid high cost on transaction fee.

(o)(o)ilikeboobs(o)(o)

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The projects operating on DEFI UNISWAP have decreased a lot since other blockchains launched their DEFI such as BSC, Solana, Fantom, Polygon...
The reason for the recent increase in transaction fees is the explosion of NFTs and the high NFT exchange on NFT marketplaces.

Congyang

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Quote from: mu_enrico on August 29, 2021, 10:03:05 PM

It's not only about Uniswap. In general, ETH network is congested, and the new fee algorithm (EIP-1559) is shit. ETH is practically useless with the average fee of $30 (source)
Just use other chains with similar dex, like BSC-Pancakeswap, Matic-Quickswap, etc.

yeah it looks like it's not just uniswap. but for swap exchange uniswap is more expensive than its competitors such as pancakeswap. I hope Uniswap can lower the gas fee for swaps a bit so that they can compete with other swap exchanges.

so98nn

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Quote from: mu_enrico on August 29, 2021, 10:03:05 PM

It's not only about Uniswap. In general, ETH network is congested, and the new fee algorithm (EIP-1559) is shit. ETH is practically useless with the average fee of $30 (source)
Just use other chains with similar dex, like BSC-Pancakeswap, Matic-Quickswap, etc.

That’s really bad for the ETH network and it’s economical environment. Actually it’s even wrong to use the word economical, since it literally misfits with the same. I still remember the days when ERC was so amazing they had almost instant confirmation of transaction with few cents worth fees. Today, as the price is increasing the gas fee is rising at an alarming rate.

Though price is high it does not mean everyone can afford it. It’s about the way we used to transact! For example, if I used to pay for X-thing costing me $7 in the old days, then same thing now costs me over $37 which includes 90% dumb fees.

Rise in the price is also useless because I will have to buy the ETH or Swap the coins at current rate. What exactly are they developing is big question.

Topic: what's wrong with uniswap? - page 2. (Read 623 times)