What is gas fee?

Gas fees are transaction fees that users pay to execute transactions or smart contract functions on a blockchain network, such as Ethereum, Arbitrum, and Optimism.

In Ethereum, gas is the unit used to measure the computational work required to execute transactions and smart contracts. Each operation that takes place on the Ethereum network, such as sending tokens or interacting with a smart contract, requires a certain amount of gas to be completed.

Gas fees are paid by users to compensate the network validators, also known as miners or validators, for the computational resources used to process and validate transactions.The amount is determined by the complexity of the transaction or smart contract function, as well as network congestion. Higher gas fees are often paid to prioritize transactions and ensure they are processed quickly during periods of high demand.

We do not charge any deposit fees.