Connected to metamask, deposit DAI to app, paid ETH fees

arqcova

Hello to the community, new user here, first time using metamask for this

Connected to metamask, deposit DAI to app, paid ETH fees, and not showing anything, it reads my wallet balance but not showing anything.

I had around 40 USD in ETH for fees in my wallet

ETH paid fees

Do I need to pay more fees to deposit the DAI?

around 67 USD? this is correct?

dr00shie

Hi! There is a little learning curve in the DeFi space. You have to first APPROVE a contract to spend your DAI then you have to DEPOSIT as a separate transaction. The approval transaction only has to happen 1 time. Keep in mind that MetaMask does its best to estimate fees, but it often overestimates to a pretty large degree. Most of us use GasNow.org to keep a pulse on current gwei and I personally try to only interact with contracts when gwei is under 100.

planter

Hi dr00shie,

              I tried to borrow $500  on the alchemix app and it tried to charge me 1.5 ETH in gas fees, telling me that I did not have sufficient funds to do the transaction, no surprise..

See screenshots below...

Any ideas ?

Thx,

john