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I offered up roughly the median, 0.05 ETH, as well as a gas fee of 0.017 ETH, totalling 0.067 ETH. I imagine there will be another 0.017 in gas fees taken off t
by washedup 5y ago
I offered up roughly the median, 0.05 ETH, as well as a gas fee of 0.017 ETH, totalling 0.067 ETH. I imagine there will be another 0.017 in gas fees taken off to convert back, making back 0.033 in the end. My total return on the investment ends up as a 55% loss, or at the current ETH price, -$136.
Assuming gas fees are the same per person, that $ loss should be roughly the same. Probably not a great assumption, but using that we come to an estimated total loss across all donars at -$136 * 17,437 donars = -$2,371,432.
I wonder how many donations didn't happen because of the huge gas fees? DAOs will likely need a network with much smaller fees to properly raise and allocate funds.
- gassit 5y agoSo significantly more expensive than if they had used an existing structure to accomplish the same goals (shares in a company for example).