Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Support/Help Snowbridge design better UX fee model #2955

Closed
acatangiu opened this issue Apr 18, 2024 · 2 comments
Closed

Support/Help Snowbridge design better UX fee model #2955

acatangiu opened this issue Apr 18, 2024 · 2 comments
Assignees

Comments

@acatangiu
Copy link
Collaborator

Description

Current Snowbridge deployment:

  1. users pay fees in source side native asset (DOT when coming from Polkadot, ETH when coming from Ethereum)
  2. uses sovereign accounts both ways on the destination side for holding fees assets
  3. has to manage/keep-up-to-date an onchain DOT/ETH exchange rate
  4. is pretty expensive both ways

We want to improve UX (1 & 4) as well as decrease operational overhead (get rid of 2 & 3).

Ideas

  • follow same pattern of Reducing bridge fees: short and long term options #2871
  • users pay fees in ETH/WETH on both sides in both directions: on PAH it uses WETH/DOT pool for transparent conversion.
  • with ^, we don't need SA anymore, for P->E direction auto-exchanged DOT is used on Polkadot side, and ETH is used on Ethereum side; for E->P direction we only need fees on destination AH where WETH/DOT pool auto-exchanges it. Relayers can be paid static overestimated fee - 0.1 DOT maybe (very cheap)
  • no on-chain exchange rate required
  • Ethereum -> Polkadot transfer fee is dirt cheap 😍
@acatangiu acatangiu self-assigned this Apr 18, 2024
@acatangiu acatangiu moved this to In Progress in Bridges + XCM Apr 18, 2024
@acatangiu
Copy link
Collaborator Author

cc @vgeddes to add other discussed ideas

@acatangiu
Copy link
Collaborator Author

@github-project-automation github-project-automation bot moved this from In Progress to Done in Bridges + XCM Oct 14, 2024
Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment
Labels
None yet
Projects
Status: Done
Development

No branches or pull requests

1 participant