Moving with the market – increased transaction fees for swapping out of SLP3

September 2, 2022

To the ShareRing Community,

It’s been a tough few days for many people and we understand that the resulting challenges may be with us for quite some time. Transparency drives the core values of ShareRing, and we aim to maintain a level of consistency in being transparent with you, our community members who have supported us through the highs and lows.

As a company we have always strived to maintain consistent transaction fees, in particular when it is within our control. When external protocols are required in the transaction, it becomes more challenging to do so. The average cost of Ethereum transaction fees have risen exponentially over the last few days, and as a result we are going to temporarily increase the swap out fees from SLP3 to ERC20.

Swap out fees will be increased from 5000 SHR to 10,000 SHR. This takes effect immediately as of the time of publishing.

Our team closely monitors the market costs and we are always positioned to make the necessary adjustments to reflect the trends.

The ShareRing Community has always been the core of our business, and we endeavour to work through the challenges together, as a whole. Short term challenges prepare us for prospective growth and we look towards the shining light at the end of the tunnel, not just as a community and company, but the industry a whole.

Regards,

Jonathon,

ShareRing

From the ShareRing Blog

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