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Fees and Wait Times

Savers entry & exit Fees and Wait Times

Fees

Users pay two kinds of fees when entering or exiting Savings Vaults:
  1. 1.
    Layer1 Network Fees (gas): paid by the user when depositing or paid by the network when withdrawing and subtracted from the user's redemption value.
  2. 2.
    Slip Fees: protects the pool from being manipulated by large deposits/withdraws. Calculated as a function of transaction size and current pool depth.
The following are required to determine approximate deposit / withdrawal fees:
outboundFee = curl -SL https://thornode.ninerealms.com/thorchain/inbound_addresses | jq '.[] | select(.chain == "BTC") | .outbound_fee'
=> 30000
poolDepth = curl -SL https://thornode.ninerealms.com/thorchain/pools | jq '.[] | select(.asset == "BTC.BTC") | .balance_asset
=> 68352710830 => 683.5 BTC
The Quote endpoints will return fee estimates.

Deposit Fees

Example: user is depositing 1.0 BTC into the network, which has 1000 BTC in the pool, with 30k sats outboundFee.
The user will pay ~1/3rd of the THORChain's outbound fee to send assets to Savings Vault, using their typical wallet fee settings (note, this is an estimate only).
totalFee = networkFee + liquidityFee
networkFee = 0.33 * outboundFee = 10,000 sats
liquidityFee = depositAmount / (depositAmount + poolDepth) * depositAmount
liquidityFee = 1.0 / (1.0+10000) * 1.0 = 99000 sats
total fee = 109,000 sats

Withdrawal Fees

Example: user is withdrawing 1.1 BTC from the network, which has 1000 BTC in the pool, with 30k outboundFee.
totalFee = networkFee + liquidityFee
networkFee = outboundFee = 30,000 sats
liquidityFee = withdrawAmount / (withdrawAmount + poolDepth) * withdrawAmount
liquidityFee = 1.1 / (1.1 + 1001.1) * 1.1 = 120,734 sats
total fee = 150,734 sats
Remember, the liquidityFee is entirely dependent on the size of the transaction the user is wishing to do. They may wish to do smaller transactions over a period of time to reduce fees.

Wait Times

When depositing, there are three phases to the transaction.
  1. 1.
    Layer1 Inbound Confirmation - assuming the inbound Tx will be confirmed in the next block, it is the source blockchain block time.
  2. 2.
    Observation Counting - time for 67% THORChain Nodes to observe and agree on the inbound Tx.
  3. 3.
    Confirmation Counting - for non-instant finality blockchains, the amount of time THORChain will wait before processing to protect against double spends and re-org attacks.
When withdrawing using the dust threshold, there are three phases to the transaction
  1. 1.
    Layer1 Inbound Confirmation - assuming the inbound Tx will be confirmed in the next block, it is the source blockchain block time.
  2. 2.
    Observation Counting - time for 67% THORChain Nodes to observe and agree on the inbound Tx.
  3. 3.
    Outbound Delay - dependent on size and network traffic. Large outbounds will be delayed.
  4. 4.
    Layer1 Outbound Confirmation - Outbound blockchain block time.
Wait times can be between a few seconds up to an hour. The assets being swapped, the size of the swap and the current network traffic within THORChain will determine the wait time
The Swap Quote endpoint will calculate wait times.
See the Delays section for full details.