The Cheapest way to trade PNK [almost 75% fewer gas fees] [1st draft]

From https://giphy.com/gifs/Jibrel-hardware-hash-jibrel-d6EHXrJlkd8IDIfdtL

[Editor Note 26–1–22: Thanks to Infinity for donating me $100 worth of ETH to make a better guide, see it here]

[This is the first draft of a guide of how to best get involved with Kleros. And to finish it, I need your support. So read till the end to find out how you can help].

Balancer offers the cheapest fees, https://app.balancer.fi/#/trade you can swap for fees ranging between $50 to $80 (adding swap and contract execution fees).

In contrast with individually swapping and transferring in Metamask (could amount to +$200 worth of ETH), this is the cheapest way to get involved in Kleros.

Other exchanges such as Uniswap and Paraswap offer similar fees but in my experience Balancer consistently offers the lowest.

Here is a step by step on how to trade:

How to trade PNK on Balancer

  1. Go to https://app.balancer.fi/#/trade and connect your Metamask.

Both areas highlighted in green will work.

2. Add the PNK token.

Here you select the pairs you want to trade.

In this panel you have to write PNK, this Pinakion Item will appear asking you to import from Coingecko, just click “Import ”and I´ll be automatically added.

3. Setting up the trade.

Make sure that the “Trade Gasless” option is on.

Click the trade settings button.

Make sure you´re trading with a slippage tolerance of 1%, the best liquidity, and most importantly, with the EIP1559 transaction type.

4. Execute the trade.

Click Preview.

Here you´ll see a preview of the trade, I recommend you to check the market gas fees on https://ethereumprice.org/gas/ to find the periods when the fees are the lowest.

Then you click confirm and execute the contract.

5. Recieve the token you trade.

[For reasons you can find in the second part of this post, I can´t show you how it looks after you execute the trade — yet —. If you would like to see that part or even see this kind of guide in a video format, please read until the end]

Now, if you wanted to transfer the funds and save ETH from the Metamask fees, there is a way to cut the gas fees in half, and for that, you will need Paraswap…

How to Trade PNK on Paraswap

Paraswap follows the same process as Balancer:

  1. Go to Paraswap here https://paraswap.io/#/?network=ethereum and Connet your Metamask wallet.

Select Metamask and connect.

2. Customize the trade settings.

Click the settings button.

Make sure to have your slippage tolerance in place, set the gas price in normal, as well as enable EIP1559 Compatibility. Ignore the rest.

3. Set the trading pairs.

Click on the token icons to select the pairs.

In this panel you have to write PNK, this Pinakion Item will appear asking you to import from Coingecko, just click “Import ”and I´ll be automatically added.

4. Execute the trade.

Here is vital to enable the swap & transfer option (otherwise you would only swap), once enabled it will ask you for an Ethereum Mainnet Address.

Here you paste the address, click the check box, and click confirm.

Then click “Unlock PNK” [be mindful you can find the periods with lower gas fees in https://ethereumprice.org/gas/].

Here you can choose any, it won´t affect the price of gas fees.

This Metamask panel will appear showing you the contract fees, click confirm.

Finally, click “Swap & Transfer” and wait to receive your fund.

5. Recieve funds.

[…]

[Again, I would love to show you the next steps, but as you´ll read next, I need your support to get Kleros known in the Blockchain Ecosytem]

Support a fellow content creator…

Hi! I´m Isaac Parra, (@EconParra in Telegram) and if you´re in the Kleros Telegram Group, you probably saw me creating content about Kleros over the last month.

Why did I do that?

Well, As a libertarian, I have a lot of faith in what the project can do to create freer and honest societies.

So I applied for the “Outstanding Crypto Guerrilla Communications” role, and that required creating the content you saw.

(You can find the report of each piece here)👇

I also did an introduction video — about why and how I want to contribute to the project — as well as a plan for my first 3 months in the role, see them here👇

Which was the result?

Well, I just loved the creative process of each piece of content (especially the video for its libertarian implications).

And although the team doesn't want an almost “freshman” student of economics in this role, they are considering me for a Marketing internship. Oh, and they gave me 5000PNK.

Why the title then?

Let me give you some context…

You see, I’m from Venezuela, where a wage of $80 a month is the best a student can aspire and teachers earn less than $40 a month.

And here you have an unemployed student with teacher parents 😅.

Apart from being poor, I´m also — maybe too much — idealistic and refuse to work for breadcrumbs in soulless roles.

So I decided to sacrifice the short term and do the best that I can with the little I have[1] to contribute to the Kleros mission of making a free and just world.

Why should you care?

Now, I know that the market is kinda shaky at the moment and you probably going through some impermanent losses.

Yet, I want to ask for your support to be better equipped for the Kleros Marketing Internship and ultimately boost Kleros reputation in the blockchain ecosystem as THE Decentralized Dispute Resolution system.

What do I need?

You see, — given the scarcity of my income, and my savings being obliterated by Lumbalgia issues —, I don't have the $30 worth of ETH to execute the Paraswap contract that swaps the PNK to USDT and transfers it to my Binance Account.[2]

This is the cheapest way to withdraw PNK from Metamask. It lowered the fees from almost $230 (adding Metamask fees for swap and transfer) to $90–130 (adding Paraswap for swap and transfer)

So, If you want to help complete this guide and you believe my work will help Kleros, please send the ETH to this Ethereum Mainnet address.

https://etherscan.io/address/0x22d214642383a8eDBa1439ac52E848b7d1ec3De6#tokentxns

I´ll also appreciate any feedback regarding the guide formatting or any other detail you deem important.

And for taking the time to read so far…

Notes:

If you would like to receive the ETH back or if you want me to create a piece for you in exchange, DM to @econparra on Telegram so we can get to an agreement 😄.

[1]If you wonder, my tools are:

- A<1mb/s internet connection

- An Alcatel Tetra and

-A Laptop as “potent” as the phone (2gb RAM, 2GHz CPU).

[2] If you want to know, i´ll use money to:

-Get a better internet connection of 25mb/s ($125)

-Purchase Solid State Drive for the laptop ($30–$45)

-The rest I´ll hodl to invest in marketing courses and improve my setup (to avoid lumbalgias once and for all).

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I´m Working to leave the world better than I found it | ♥ #Bitcoin & #Ethereum | #Economics Student | #Marketing Passionate | #Health enthusiast

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🔎Isaac Parra🔎

🔎Isaac Parra🔎

I´m Working to leave the world better than I found it | ♥ #Bitcoin & #Ethereum | #Economics Student | #Marketing Passionate | #Health enthusiast

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