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  • 🔧ERC721 Migration
    • Why
    • Process overview
    • Smart Contract
    • Cost burden
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  1. ERC721 Migration

Cost burden

PreviousSmart ContractNextCurrent Discussions

Last updated 1 year ago

Migration involves fees, primarily is the gas fee. Each transaction on ETH comes with a fee, and the fee will depend on how theis written.

Current estimates ranges are below (calculated by MWSTW and WGV, these are lower/higher bounds, unless new options are discovered)

Note that since we are minting in independent order (not sequential 0,1,2), we have to use ERC721, cannot use ERC721A, and there will not be gas savings for large migrations.

Current Gas Price (gwei)
Cost Est (1 LEP)
Cost Est * 7000 LEPs

10 gwei

.0015 - .003 ETH

10.5 ETH-21 ETH

20 gwei

.003 - .006 ETH

21 ETH-42 ETH

100 gwei

.015-=.03 ETH

105 ETH-210 ETH

It stands to reason that low gas is better, and perhaps we should enforce low gas price for migration.

Who pays?

Simply put, it will be LEP, the community, or a combination of both.

Most likely LEP will crowdfund and that will be used for automated reinbursement of gas on migration. In short, in the transaction, it will estimate the gas price and transfer the same amount of ETH. The contract would be funded with sufficient ETH.

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