GMGN Fees ＆ Settings
✅Tips: You can get details of various transaction fees by querying the transaction hash at https://solscan.io/
1. GMGN Fee (no need to set)
GMGN only charges a 1% handling fee for a single transcation, and there are no additional charges. For users who have questions about transaction fees, please first check your priority fee and slippage settings.
The transaction amount in the figure is 1 SOL, and the GMGN fee is 0.01 SOL (WSOL is the token used for transactions on the Solana chain, 1 WSOL = 1 SOL)
2. Gas Fee (no need to set)
Note: Gas Fee refers to the fee that users need to pay to network validators when executing transactions or interacting with smart contracts, which is commonly known as on-chain fees.
Solana chain uses SOL as the gas unit
The ETH chain uses Gwei as the Gas unit because the price of ETH is high and the fee calculation is inconvenient: 1 ETH = 1,000,000,000 Gwei (9 zeros)
3. Slippage (need to be set)
1) Description: Slippage refers to the maximum acceptable deviation of the number of tokens declared for a single transaction. For example, if the slippage is 30% when buying, if the actual tokens received are between 70% and 100%, the on-chain transaction will be successful. If the actual tokens received are less than 70%, the on-chain transaction will fail (exceeding the slippage range).
2) The purpose of setting a slippage limit ratio is to ensure that you will not suffer unexpected losses due to slippage. Once the actual execution price exceeds the set slippage ratio, the transaction will be automatically cancelled.
3) When trading MEME, experienced traders will significantly increase slippage to cope with the sharp rise and fall caused by token FOMO and FUD sentiment, because the demand is to buy and sell quickly, and they don’t care how many tokens they can actually receive.
✅Tips: Manual buying and selling is recommended to be automatic; the recommended slippage for automatic buy/sell and other pending order operations is 30%-35%; for new and popular tokens, it is recommended to be 50% or more. Sometimes auto slippage has lag, can not guarantee 100% success, please be careful to follow your needs to trade
4. Anti-MEV mode (Anti-MEV sandwich attack) (need to choose whether to turn it on)
1) Note: The core attack method of the MEV bot is Sandwiching, which is the so-called sandwich attack, which is equivalent to the preemptive strategy adopted by high-frequency trading companies: in a typical sandwich attack, the MEV bot reads the incoming transaction information and preemptively executes the order, thereby pushing up the token price when you buy it.
The MEV bot detects your transaction and automatically generates a buy transaction before the block is packaged your trading. The transaction fee is higher than yours, so the robot's transaction is executed first.
After the bot's transaction is executed, due to the automatic market making mechanism, the unit price of the token will be raised, and the price increase will directly affect the subsequent transactions. Therefore, when it is your turn to trade, the token price has risen, and the actual number of tokens you get is not as much as when you first placed the order. This difference is also called the slippage amount. (But it is different from the normal slippage, which is the slippage caused by the MEV bot )
After our transaction is executed, the token price will continue to rise. At this time, the bot generates another transaction to sell the lower price bought in the previous transaction, just making a profit from the difference. The two transactions generated by the bot just sandwich our transaction, so we call it sandwich attack
2) Enabling Anti-MEV mode can effectively prevent transactions from being sandwiched, but the priority fee must be at least 0.002 SOL to enable it.
5. Priority fee (need to be set)
1) Note: The priority fee is an additional fee paid to speed up the processing of transactions. It will be used to bribe nodes to process your transactions in advance, so it is also called a bribe fee. This is why the above Anti-MEV mode requires at least 0.002 SOL.
2) Assume that you set the priority fee = X
If it is a normal transaction, then A = B = X/2
If it is Anti-MEV transaction, then A = X, and X is required to be at least 0.002 SOL
✅Tips: For transactions with no speed requirement, 0.002 SOL is generally recommended. For automatic buy/sell orders, 0.006 SOL or above is recommended. When the chain is busy, if you want to trade quickly, you need to manually increase the transaction priority fee.
6. Token issuance platform fee (no need to set)
Note: For example, for tokens issued on Pump.Fun, a 1% handling fee will be charged by the Pump.Fun platform during transactions. For the specific handling fee ratio, please refer to the instructions of each token issuance platform.
If you have any questions, you can ask your trading questions in the official GMGN group 👇🏻:
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