Thread by @ExonumAlex

Some stats on the costs of fungible token NEAR <> Ethereum transfers over the #RainbowBridge. @NEARProtocol...

Ethereum -> NEAR transfer consists of 3 transactions:
1. Ethereum: Approve ERC20 transfer
2. Ethereum: Lock ERC20
3. NEAR: Finalise deposit (mint tokens)

Approve ERC20 transfer costs around 45,000 ETH Gas:
ropsten.etherscan.io/tx/0x512371d97…

Lock ERC20 transfer costs around 35,000 ETH Gas:
ropsten.etherscan.io/tx/0x41c00b577…

Finalise deposit transfer costs around 64 NEAR TGas:
explorer.testnet.near.org/transactions/3…

Altogether, with current prices of the gas, depositing to NEAR is about:
- Ethereum side: 80,000 Gas, which is worth of $14.2 (101 Gwei)
- NEAR side: 64Tgas, which is worth of $0.022

NEAR -> Ethereum transfer consists of 2 transactions:
1. NEAR: start withdraw (burn tokens)
2. Ethereum: finalise withdraw (unlock ERC20)

Start withdraw transaction costs 13 NEAR TGas
explorer.testnet.near.org/transactions/9…

Finalise withdraw transaction costs 280,000 ETH Gas:
ropsten.etherscan.io/tx/0xdf672bb71…

Altogether, with current gas prices, withdrawing from NEAR costs:
- Ethereum side: 280,000 Gas, which is worth of $49.72 (101 Gwei)
- NEAR side: 13 TGas, which is worth of $0.0046

Total #RainbowBridge stats
Ethereum->NEAR deposit costs $15
NEAR->Ethereum withdraw costs $50

Mainly the fees are dictated by Ethereum insane Gas price. NEAR fee for these transfers is 0.04% of total cost!

NEAR execution is 2400x cheaper than Ethereum.