Sideswap.io
Discussion
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
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.
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
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.
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