A No-Brainer Guide to Upcoming FET Transaction Fees

by | Aug 30, 2022

FET transactions fees are coming! We’re working hard to make the transition to paying your FET gas fees as painless as possible. This post outlines your options to get your hands on a little FET and keep on MOBIXing!

MOBX is a token on the fetch.ai blockchain. Unlike networks like ethereum, up until now it’s been possible to send and receive tokens with the MOBIX app without paying any transactions fees (so called gas fees). As more and more people dive into making MOBIX part of their daily routine it’s getting more important to protect the network from SPAM. This is the reason that fetch.ai is planning to introduce a transaction fee in FET. This means that in the future you’ll need to pay a tiny amount of FET in order to do on-chain transactions like sending MOBIX or staking.

Q: What do I have to do?

A: Nothing yet! We’re preparing a whole bunch of ways for you to get your hands on a little FET – and we mean just a little. At present the fetch.ai team is planning on a minimum-gas-price of 2 aFET. This may change over time with demand. To put it in perspective that’s 0.000000000000000002 FET. Without getting too far down into the technical details, what you should know is that the transaction fees are intended to be very low.

We’re making it super easy for you. We’ll be rolling out a bunch of options to get enough FET to keep on MOBIXing. Some will be free and some will cost a little something but the bottom line is that there will be plenty of options.

Q: What are the options for getting FET?

A: Option 1: Do nothing different – keep on earning MOBIX Miles and convert your MOBIX Miles to MOBX tokens. Starting on 5 September 2022 we’ll be adding a 1 nano FET mini-airdrop to successful conversion transactions. This means that if you earn MOBX Miles and convert those miles to MOBX in the next few weeks you’ll be automatically transferred enough FET without doing anything extra for hundreds of transactions (sending, receiving, staking etc.) This mini-airdrop isn’t going to get you a lambo and if you’ve already got your nano FET you won’t automatically get more but it will be plenty for most people to keep on MOBIXing. Also please note that it might not continue forever so make sure earn and convert those MOBIX Miles!

Option 2: Get some FET from stakely.io. The good folks over at stakely.io have helped us to set up a FET faucet that you can turn to if you need some FET to pay gas fees. You’ll just have to enter your address, complete a CAPTCHA and send a tweet in order to get enough funds for a few transactions.

Option 3: Buy some FET via Indacoin! For those of you with slightly deeper pockets and a credit card buying some FET and transferring it into your MOBIX wallet will be the easiest thing. For the price of a couple of lattes you’ll be set up with enough FET to do transactions all day every day for quite a long time. The minimum order is 10$ and the buying process is really pretty simple.

Option 4: There’s a few more options in the works that we’ll announce in the next days. Stay tuned on this. We’ll update this post as soon as more options open up.

Q: When is this going to happen? I’m panicking a little!

A: No need to panic! We’re taking our time and making sure that everyone has what they need. For the moment you don’t have to do anything at all. Just wait and keep on MOBIXing. We’ll be pushing a UI refresh to the app in the next couple of weeks which will enable you to see your FET as well as giving you some in-app options at your fingertips for getting the FET you need to transact! If you haven’t already done so subscribe to our twitter and telegram groups to stay up to date!