Gas Fees Tiers
Vanar implements a tiered system to charge different transaction fees based on the transaction size (the gas a transaction consumes). This scheme addresses bad actors, making it expensive to misuse or attack the chain with massively big transactions consuming a lot of space in a block. Transactions like token transfers, token swap, minting an NFT, staking, bridging will still cost the lowest fee tier that Vanar charges, which is a small amount of the VANRY equivalent to $0.0005.
Why different fees for different tiers?
The rationale for implementing different tiers of fixed fees for various transaction sizes is to address potential issues in low-fee blockchains. Without tiered fees a large number of small transactions could overload the system making it unavailable for other users. The network remains very low cost and available for everyone as long as it is used on fair basis which maintains the integrity of the network as a whole.
For instance, if an individual were to send 10,000 large transactions each consuming the entire block space, a blockchain with a 3-second block time would be overwhelmed for 30,000 seconds (or 8 hours and 20 minutes). This would cost the sender only $5 if each transaction were charged $0.0005 and by setting higher fees such as $15 or more for these larger transactions, the cost would rise to $150,000 thereby discouraging misuse and helping to maintain system integrity. Below are the 5 tiers for fixed fees based on transaction size in terms of gas:
| Gas Range | Fixed Fees (USD) |
|---|---|
21,000 to 12,000,000 | 0.0005 |
12,000,001 to 1,500,000 | 1.5 |
15,000,001 to 20,000,000 | 3.0 |
20,000,001 to 25,000,000 | 7.5 |
25,000,001 to 30,000,000 | 15 |
*Note that the gas charged in terms of USD can vary by nominal value (in decimals) due to the changing nature of the market value of the gas token. For example it instead of exact $0.0005 it can be little higher (%0.0005174) or lower (like $0.0004897)