Eth L2’s fees

I’ve been using Eth and all the options that run alongside Erc-20 compatibility, like Polygon. Had some SAND since 2021 bull, staked.

Here’s the problem … Eth is simply to expensive to operate for the random people. Obviously i made use of small amounts until i understood exactly how everything works, but hear me out. Unless you’re staking at least a few K’s of Matic (at least 3k), the staking mechanism is happening on Erc-20 (mainet), so at withdrawal, you end up paying in fees all your gains 😉.

Now, tried the same on SAND via the native portal, they have a bridge and all that, easy to use, only Metamask needed, also they offer 10 feeless withdrawals of rewards , which is ok … that’s until you want to withdraw the whole amount when you realise that the withdraw fee plus the bridge fees is arround 80 bucks (30 the withdraw request + 50 the bridge fee to bring it back on Ethereum Mainet).

I guess the point is, if you don’t have at least a few K’s of anything, on L2’s the low fee cost is literally irelevant because either the stake must happen on the Mainet token , like Polygon Matic (you can’t stake it from Polygon), or the SAND token , which can only be staked from Polygon but the fee to bridge back to Mainet is absolutely Ridiculous:)) , it’s funny how expensive this is and i’m in west Europe (out of all places).

Now, I tried all that, with the respective native tokens on Cardano or Algorand … sorry but it’s simply a different game on these L1’s, everything is cheap and instant.

If you want a direct comparison, AGIX (SingularityNet.io token) can be staked on Erc-20 and Cardano … oh boy, you don’t want to know the difference if you’re a Eth maxi.