I’ve just tested it.. So you pay mining fee on top of these network and service fees. Network fee is mining fee required for doing the swap itself probably..
So in simple terms it is extremely expensive now.
Discussion
Wow, OK. 👀
> So in simple terms it is extremely expensive now.
Absolutely. That's why we have many folks exploring Liquid these days.
To clarify how network fees are charged: First thing to highlight is that every swap on Boltz consists of **two** chain transactions in order to allow for the non-custodial atomic swap flow: one transaction *locking* the coins on-chain and the second one *claiming* coins as part of the preimage release/unlock mechnism.
Now there we have two different directions where fees are paid differently:
Chain -> LN: lock transaction paid by the users wallet, you can set this fee freely in your wallet but need to make sure the transaction confirms before the ~24h swap timeout. The Network fee you see in our swap box is the one we charge is for our (one) transaction to *claim* the coins. The estimate is based on the expected transaction size*current mempool.space high priority fee. We need to use high priority since we have to make sure to not run out of money ending up with all our funds locked up in the mempool.
LN -> chain: here the network fee is roughly double from above because locking and claiming needs to be charged for. Locking from our side again is done using current mempool.space high priority fee, the claim fee is controlled by the client (our web app or boltz-lnd boltz-python, we have a couple of clients by now). Right now web app fixes the claim fee to mempool high prio too, but we want to allow for custom claim network fees in future. Opened an issue to not track it: https://github.com/BoltzExchange/boltz-web-app/issues/377
💪 Cool.
Thank you for the explanation!