What are the gas costs for ckERC20?

Developers Rust
1

Hello, everyone!

I have an ERC20 token that I created for testing, and I want to create a ckERC20 token that interacts with that ERC20 to test it. In doing so, I was wondering about gas fees on the ICP side.

  1. I know that in Ethereum you can select a gas fee and order transactions to match that level, is there such a concept in ICP?

  2. does anyone have any information about the gas fees paid to the ICP network during the ckERC20 → ERC20 process?

Thanks you.

2

On the Internet Computer, canisters pay for their own resource consumption. You can learn more about this “reverse gas model” here.
However, ckERC20 ledgers do charge a small, constant fee for token transfers. For example, as you can see here, the fee for a ckUSDC transaction is 0.01 ckUSDC.
So, no, there are no variable gas fees.

Regarding your second question, check out this explanation of the ckERC20 withdrawal process. In short, the ckETH minter estimates the current fee (in ETH) to make the ERC-20 transaction (transferring the ERC-20 token to the address specified by the user) on Ethereum. The ckETH minter keeps the difference between the estimated fee and the actual fee, which can be considered “the fee paid to the ICP network”.

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3

Thank you so much THLO.
I’ve seen the documentation and didn’t catch this.
I’ll have to go back and check out what you said.

Have a great day.

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