Weekly Balancer Claim Fees Crazy High

#1

I just joined Balancer a little over a month ago. And now i am starting to wish that I would not have. I am in 4 pools with a value of around $1600 combined. Apparently I got in just when they changed the BAL rewards from an automatic weekly distribution, to having to “claim” it yourself. Well I have earned a total of 3 BAL over about 4 weeks now. So about 42 bucks at current token price( Underperforming by the way). The charge for me to “claim” MY tokens was $8.22 !!! Seriously??!! About a 20% charge on the value of my tokens??? Dang I sure wish I could earn anything even close to that in these so called pools I am in. And since they started doing that, The Token price has stagnated too.

IDK, but I have always just had a problem with Greed. And that is what I am seeing here. There are much better places to put your money than Balancer now. I’ll give it maybe one more week to see how it goes. But something is definitely not right here.
JD

#2

You can wait to claim when gas is cheap. Or set a tx with a low gas fee. You can also submit the claim tx from a second address so you don’t need to wait while the tx unconfirmed.

Generally I’ve been spending $1-3 for claiming. Claims are quite gas efficient and use less than 100k gas.

You can even wait multiple weeks between claiming if you think it’s still too much.

#3

Claim fees are also much cheaper than claiming from a staking contract.

#4

seems like when I have changed fees in metamask the transactions wind up getting rejected. Not sure ehat u mean by submit claim from a 2nd address? Hows that work? Thanks

#5

@StockMobi

seems like when I have changed fees in metamask the transactions wind up getting rejected.

So 2 reasons for a transaction getting rejected in metamask.

  1. The previous transaction has already been confirmed.
  2. You didn’t increase the gas fee by at least 10% from the previous tx.

Not sure what u mean by submit claim from a 2nd address? Hows that work? Thanks

You can put any address in the field and claim BAL for that address.

#6

I agree to a point. The gas prices do have a large fluxuation on a daily basis. I have found that patience is key. The rewards pile up nicely. Try at different times of the day.
As for the pools earning power, I have none that are currently losing. Stay the course.

John