laatste update: 06-2022
UPDATE: I mistakenly edited out one key step in saving on gas with the CHI token–buying it first! Sorry, but consider getting CHI on 1inch.exchange and just leave it in your wallet to be auto-spent on future trades on 1inch as long as you Enable CHI like I did in the tutorial.
While higher gas prices on Ethereum are driving up transaction fees, I’m noticing lots of DeFi newcomers are missing out on simple tricks to minimize their gas costs when trading on DEXs. This tutorial is how I regularly save more than 50% on gas costs, considering I do 100% of my trading on Ethereum DEXs and work with an average of 5-10 transactions per day on Ethereum. I know the stress of gas costs firsthand!
Here’s what I cover:
⚔️ Tip #1: High gas prices on Ethereum and how the ETHGasStation.info can help
⚔️ Tip #2: How the CHI token and 1inch.Exchange help me to save 50% on gas costs
⚔️ How to enable the CHI token and save trading on 1inch.Exchange
⚔️ Tip #3: How I use the “unlimited spend limit permission” to save on gas on future trades
⚔️ Finishing the 1inch trade and confirming I saved 50% on gas costs
⚔️ Warning about the “unlimited spend limit permission” and how to change it back to zero
🛠️ To try 1inch.Exchange DEX aggregator, go to:
🛠️ To use handy EthGasStation.info tool, go to:
🛠️ To learn more about the CHI gastoken, go to:
🛠️ To edit unlimited allowances you’ve enabled with Ethereum apps in the past, go to the Token Allowance Checker:
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Disclaimer & Risks: 1inch.Exchange and the other teams mentioned in this video did not pay me to produce this video. This is not financial advice and you should approach all DeFi applications, wallets, protocols, and tools with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), and potentially admin risk (admin key compromise, governance vulnerabilities). There is risk whenever using leverage (if it’s ever used), and there’s risk of the dollar-peg failing in any stablecoin, such as sUSD. Also, be mindful of the risk of an “unlimited spend limit permission” I demonstrate in the video.
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