Automatically Swap rewarded BNT for ETH to pay for staking gas fees

Community Chatroom (DISCUSSION)
1

Hi,

I would like to discuss an improvement in the procedure to stake rewards into a pool. As an example, I will use the ETH/BNT pool.

When we stake BNT into the ETH/BNT pool we get rewards. We can choose to re-stake these rewards again into the ETH/BNT pool. At this point, however, we need to pay the gas fees for the transaction, which means we need to use ETH from our wallets to pay for it. For example, if I receive 500 BNT in rewards from the pool and I want to re-stake them into the pool today, the fee for that transaction is arount 0.05 ETH. At the moment, these 0.05 ETH must come from my external wallet.

Could the Bancor protocol allow users to swap a part of the rewarded BNT (a % of the 500 BNT in my example) into ETH to pay for the gas fees?

As part of a liquidity pool dedicated to allow users to swap between BNT and any other token, it seems a bit strange that we cannot do exactly that with the rewards we receive from the pool

Any suggestions?

Cheers

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If the concern with restaking your rewards is due to gas fees then note that this will change with Bancor V3:

We have a Bancorian weekly that aggregates development updates and where we share this information as well:

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Great to hear. I didn’t know about this feature being integrated into Bancor V3. Looking forward to it.

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