Gas Fee to borrow too high! Is this right?: Page 2

Gas Fee to borrow too high! Is this right?

n4n0

At the time of writing there's literally below 1 alUSD mintable. If you try to mint 250 of those it'll just fail. That's why the transaction cost will be so high as metamask is trying to tell you that what you're trying to do won't work.

maddogmt

n4n0
I understand that ... when I was trying there were over 700 alUSD available. If there aren't enough available it won't process the loan to the point where you ever get to Metamask opening up

n4n0

maddogmt it's really hard to remote troubleshoot past events to be honest. All I can do is guess what could've lead to that event. But usually it's a either wrong user input, metamask doing metamask things, or something that'd legit just fail.

onEgyrl

The alETH vault currently shows that there is over 1700 alETH that can borrowed and when I to borrow some.

The gas fees are off the charts.

Based on previous posts, does this mean that the amount of actual alETH available is not properly reflected in the UI?

n4n0

onEgyrl the borrowing of alETH has been put on pause temporarily as there is an ongoing issue we're resolving at the moment.

JRG

n4n0 Thank you, i have finally resolve the issue, it was issue with metamask settings.
Thank you..
All good, ALCHEMIX looks really really good.

StevenPeterson

JRG So how did you fix the issue? What Metamask setting did you change?

Winterstoke

HAd the exact same issue all day - borrowing ~$2500 of AlETH (before it was stopped as mentioned by n4n0) - Gas fees of $500-600 quoted by metamask

How did you solve that JRG? Thanks

StevenPeterson

Winterstoke Totally just fixed the issue. It's a Metamask settings issue. You have to reset your activity log in Metamask and then it will work and you'll be able to deposit DAI and then borrow alUSD from it. In Metamask go to: Settings, Advanced, Reset Account.

After that it'll work fine. The problem was that my deposit of DAI wasn't fully getting sent to Alchemix. Once you reset the Metamask settings, your deposit will go through, and you'll be able to borrow alUSD against it. Let me know if you have any questions.

JRG

Winterstoke Sorry for delay.
First step make sure you have deposited DAI into the VAULT. Once you see your DAI in the vault try going into borrow.
If you get alert about contract error.
go to Eth gas station, look at gwei set up, go to setting on Metamask and make sure your gwei setting are simmilar to the gwei calculator on Eth gas station. Few videos on you tube which help me at that time.

varsav

I'm having the same issue, trying to deposit about 1 ETH and the gas fee is $457.14. Would someone help me understand how to make gas normal? Or, fix the metamask setting that n4n0 referenced?

@n4n0 @JRG

n4n0

varsav deposit of ETH and minting of alETH is currently paused, that's why the gasfee is displayed crazy high atm.

Manfred

Is the gas fee still extremely high?

I am trying to deposit about 1000 DAI to Alchemix. But the transaction fee is about $900. Can this be correct or am I doing something wrong?
Thanks, Manfred

n4n0

Manfred Do you even have the right amount of DAI on your wallet? Because if you don't the transaction will fail and that's why the gas estimate is showing such high numbers.

Manfred

n4n0 Hi, and thanks for your reply. Yes, I do have sufficient DAI in my wallet. I noticed I don't have ETH in the wallet. May this be the reason for the high fees? Could be an explanation but it's misleading.

n4n0

Manfred Yes! You need ETH to pay for the transaction costs. If there's no ETH in your wallet, the transaction can not be paid for, thus will not be broadcast to the network.

StevenPeterson

Manfred Totally just fixed the issue. It's a Metamask settings issue. You have to reset your activity log in Metamask and then it will work and you'll be able to deposit DAI and then borrow alUSD from it. In Metamask go to: Settings, Advanced, Reset Account.

StevenPeterson

Did anyone come up with a solution to this issue?

I deposited Dai from Metamask to Alchemix.
I have $230 left in Metamask for gas fees.
When I click the Borrow tab on Alchemix it shows 0.00 available to borrow, but yet my wallet on Alchemix shows it has funds in it.
When I do type in an amount to borrow, Metamask shows $900+ in gas fees. Any help would be appreciated.
Also, Alchemix shows plenty of alUSD available to be minted. Please help. I don't know what else to do.

Thanks

StevenPeterson

thequietone1 Did you get this issue fixed?

StevenPeterson

thequietone1 Totally just fixed the issue. It's a Metamask settings issue. You have to reset your activity log in Metamask and then it will work and you'll be able to deposit DAI and then borrow alUSD from it. In Metamask go to: Settings, Advanced, Reset Account.

JRG

StevenPeterson Yes this is much better explanation than mine.

StevenPeterson

mm0398 Totally just fixed the issue. It's a Metamask settings issue. You have to reset your activity log in Metamask and then it will work and you'll be able to deposit DAI and then borrow alUSD from it. In Metamask go to: Settings, Advanced, Reset Account.

StevenPeterson

LobsterSavior Totally just fixed the issue. It's a Metamask settings issue. You have to reset your activity log in Metamask and then it will work and you'll be able to deposit DAI and then borrow alUSD from it. In Metamask go to: Settings, Advanced, Reset Account.

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