Nostr Web Client

Thanks, that's also what ive found to be cheapest so far at 0.1%

I was hoping to find smaller or a flat fee based solution, but it works for now. 0.1% is much less than any trading fees / premiums.

One of the downsides of peg-outs being limited to federation members may be a decreased incentive to drive those fees down. There is no reason they *need* to be fractional fees since they are the ones that ensure the 1:1 peg (no need to provide liquidity), but there are only so many people in the market that can step in to provide such a service

MAHDOOD 1y ago

My understanding is that their fees are very low. The big fee you are seeing is for the miners. It’s a big fee because they want to make sure it gets mined. Look at the tx fee in mempool after you submit it.

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Discussion

caleb 1y ago

I'll check once mine arrives in mempools to see how the fees compare. I tried a few different amounts (large and small) and the fee was different and always close to 0.1% (closer the lower you set the on-chain fee). You can select the sats/vbyte for the onchain fee and I could tell that a fee of 0 sats/vbyte still left the lower bound of a 0.1% difference unexplained for

MAHDOOD 1y ago

Hmm I’m guessing that it depends on how much data is being sent. Since it’s a multisig wallet, the data in the blockchain would be bigger.

caleb 1y ago

Page 6 here cofirms they cahrge a flat 0.1% fee. Anything more than that appears to be the onchain fee to sent to your wallet

https://sideswap.io/resource/pdf/SideSwap_-_Peg_Service_-_Briefing_Book.pdf

MAHDOOD 1y ago

So 1k sat fee to send 1 million sats that’s not bad. It’s just the mining fee that’ll get you.

caleb 1y ago

custodial lightning is often worse