You need to know these tips for reducing Ethereum Gas expenses

Tips for reducing Ethereum Gas fees include: 1. Reasonably set Gas parameters: Adjust Gas prices and optimize Gas Limit. 2. Use relevant tools and protocols: leverage Gas tokens and DApps that minimize Gas fees. 3. Merge transactions: Combine multiple small transactions into one transaction and send them.

In addition to the aforementioned methods such as choosing the right trading time and using the Layer 2 solution, there are some tips for reducing Ethereum Gas expenses:

• Set Gas parameters reasonably:
  • Adjust Gas Price: Some Ethereum storage allows users to manually set Gas Price. If the user is not in a hurry to make the transaction quickly confirm, a lower Gas price can be selected to reduce transaction costs. However, it should be noted that setting a too low Gas price may cause transactions to be unconfirmed or even rejected for a long time, so reasonable adjustments need to be made according to the network conditions.
  • Optimize Gas Limit: Gas Limit is the maximum amount of Gas required to complete a transaction or execute a contract. Users should set up Gas Limit reasonably according to the actual situation of the transaction to avoid unnecessary waste of fees due to excessive settings. For simple transfer transactions, you usually don’t need to set up an over-high Gas Limit; for complex smart contract interactions, you need to make sure that Gas Limit is sufficient, but don’t overestimate it either.
• Use relevant tools and protocols:
  • Gas Token: Gas Token is a special token that can be created when the Gas fee is low and then destroyed when the Gas fee is high, thus achieving a discount on Gas fee. The principle is to utilize Ethereum's storage space. When creating Gas tokens, it will occupy storage space and consume Gas, and free up storage space when destroyed to save Gas. However, the use of Gas tokens requires certain technical knowledge and there are some risks and restrictions, which are not suitable for ordinary users.
  • DApps that minimize Gas fees: Some decentralized applications on Ethereum provide products that minimize Gas. For example, Yearn's V2 Vaults and KeeperDAO can automatically execute and batch process user transactions, and users do not need to pay Gas fees manually each time, but pay it in one lump sum, thus reducing Gas fees for everyone. The same is true for the Balancer V2 trading protocol, which makes Balancer threads a large vault rather than a pool of many combinations, making Gas transactions through Balancer cheaper.
• Merge transactions: If there are multiple small transactions that need to be made, consider combining them into one transaction and sending them. For example, using a storage or DApp that supports batch transfer function, package multiple transfers into a transaction, which can save some duplicate fuel consumption, such as signature verification, address checking, etc., thereby reducing the total Gas fee.

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