Understanding Network & Other Fees
Last updated
Last updated
Sending transactions on blockchain networks requires a small amount of the blockchains native currency (Base's native currency is ETH and Polygon's is POL) much like your credit card or bank sometimes has a processing fee.
This network fee is called "gas" and it is the live cost for your transaction to be processed efficiently on-chain. This fee is dictated by the current demand that the network is experiencing to process the queue of transactions made by all of it's participants.
If you do not have enough of a blockchains native currency to pay for a transaction, you will not be able to proceed and will first need to with more of the blockchains native currency.
The following transactions require a small amount of a networks native currency to be processed on-chain:
Sending cryptocurrency funds
Sending Royalty Tokens
Sending NFT collectibles
Buying NFT collectibles
Listing NFT collectibles for sale
3rd-party interactions with DeFi platforms (such as staking or swapping funds)
The following fees are also charged when receiving Royalty Payments or withdrawing your funds to your bank account.
Processing fee: Paid to the payment provider to cover ongoing maintenance and support of their node to provide timely reconciliation on-chain.
Service fee: Paid to Revelator to cover costs associated with off-ramping and moving money to your bank account.
Protocol fee: Paid to for the associated gas & data costs incurred for royalty payment related transactions.