Fee & speed

What are TeleSwap's fees?

To bridge assets from Bitcoin to EVMs or from EVMs to Bitcoin, users pay 2 fees:

Network fee: This is the fee for sending the desired asset to the user on the destination chain. The fee depends on the destination chain’s congestion, not the bridged amount. In the case of bridging from Bitcoin to EVM, the request is processed on the EVM chain, requiring an EVM transaction fee, which is charged on Bitcoin as a network fee. The same applies for bridging from EVM to Bitcoin, where the request is processed on Bitcoin; additionally, TeleSwap takes a network fee on EVM for that.
Locker fee: 0.1% of the bridge amount is allocated to the Locker node that processes the request. This fee compensates Lockers for their service, which primarily involves managing Bitcoin assets and processing bridge requests. Lockers can offer their service by locking collateral, and this fee compensates them for their locked assets. As more users demand bridging services, Lockers must provide additional collateral. The percentage fee serves as ample incentive for them.

How fast does TeleSwap process requests?

To bridge assets from Bitcoin to EVMs or from EVMs to Bitcoin, TeleSwap processes requests after their confirmation on the source chain. This is called confirmation delay.

Confirmation delay: This is the time it takes for a transaction to be confirmed on the source chain. In the case of Bitcoin to EVMs, it takes 2 Bitcoin confirmations, which is around 20 minutes. For EVMs to Bitcoin, it depends on the EVM confirmation delay, which is usually around 1 minutes. TeleSwap waits for confirmation delay as a security measure; processing requests before their confirmation poses a risk of transaction exclusion from the source chains. This could lead to minting unbacked wrapped Bitcoin assets or unintentionally sending Bitcoin assets to users for free.

PreviousBridge Bitcoin Assets to EVMs NextTST (Teleport System Token)

Last updated 15 days ago

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What are TeleSwap's fees?

To bridge assets from Bitcoin to EVMs or from EVMs to Bitcoin, users pay 2 fees:

Network fee: This is the fee for sending the desired asset to the user on the destination chain. The fee depends on the destination chain’s congestion, not the bridged amount. In the case of bridging from Bitcoin to EVM, the request is processed on the EVM chain, requiring an EVM transaction fee, which is charged on Bitcoin as a network fee. The same applies for bridging from EVM to Bitcoin, where the request is processed on Bitcoin; additionally, TeleSwap takes a network fee on EVM for that.

Locker fee: 0.1% of the bridge amount is allocated to the Locker node that processes the request. This fee compensates Lockers for their service, which primarily involves managing Bitcoin assets and processing bridge requests. Lockers can offer their service by locking collateral, and this fee compensates them for their locked assets. As more users demand bridging services, Lockers must provide additional collateral. The percentage fee serves as ample incentive for them.

How fast does TeleSwap process requests?

To bridge assets from Bitcoin to EVMs or from EVMs to Bitcoin, TeleSwap processes requests after their confirmation on the source chain. This is called confirmation delay.

Confirmation delay: This is the time it takes for a transaction to be confirmed on the source chain. In the case of Bitcoin to EVMs, it takes 2 Bitcoin confirmations, which is around 20 minutes. For EVMs to Bitcoin, it depends on the EVM confirmation delay, which is usually around 1 minutes. TeleSwap waits for confirmation delay as a security measure; processing requests before their confirmation poses a risk of transaction exclusion from the source chains. This could lead to minting unbacked wrapped Bitcoin assets or unintentionally sending Bitcoin assets to users for free.