What are network fees?
Network fees, often referred to as gas fees, are charges paid to the network validators for processing your cryptocurrency transactions. These fees compensate for the computational energy required to process and validate transactions on the blockchain.
The type of token needed to cover these network fees depends on the specific blockchain network you're using. BroccoliSwap supports various networks, each with its own native token for covering network costs:
- Avalanche: Native token AVAX
- Ethereum: Native token ETH
- BNB / BSC chain: Native token BNB
- Arbitrum L2: Native token ARB-ETH
- Polygon: Native token MATIC
- Fantom: Native token FTM
It's important to note that every transaction on a blockchain incurs a network fee. These fees are not refundable, even if the transaction doesn't go through. The reason is that miners or validators still expend resources to process and validate transactions, regardless of the outcome. Unlike traditional systems, blockchain transactions are verified by a decentralised network of computers, not a central authority.
BroccoliSwap itself does not set or receive any part of these network fees.
For a deeper dive into how these fees are calculated, see: How is a network fee determined?