Note: I’m not talking about blockchain fees but about unjustified fees that some contracts themselves take just to profit their creator or a group of people.
A few weeks ago I was looking for a multi-send service for the BSC, I found a bunch of them and typed the details and at the end of the process, surprise: it takes a fee?! Why would a multi-send contract take a fee?
It’s clear that it’s necessary to pay the blockchain fees, as the blockchain is really the only one that runs the service and (the miners really) has a manteinance cost. But there’s absolutely no maintenance cost for the contract deployer nor anyone else. The only cost for the deployer is a “one-time payment” to deploy the bytecode which is really low.
I’m going to put another example: PancakeSwap. It takes a 0.3% FEE on EVERY TRADE on EVERY LIQUIDITY PAIR. That seems outrageous too me: they don’t even have any developing costs (they are just a fork from Uniswap!). Yes they use some of the fees to run staking pools which incentive liquidity, but they also dump the fees collected on smaller projects to buy more of their (shit)coin CAKE and try to pump it trying to give it a sense of utility which it doesn’t really have.
It saddens me to see how many of the projects are like PancakeSwap: they are seeking a quick buck, they are not in for the tech and they don’t represent the true spirit of crypto. I hope that the future brings non-profit alternatives.
I would love to hear alternatives and developer groups that really are in for the tech and aren’t just looking for a quick buck. I’m definitely going to try to do my part by making a multi-send which takes absolutely no fees.