Gas Fees

What is gas and why do we need to pay it?

Why do I pay gas?

gmonad.meme is a portal that creates blockchain transactions to create, buy & sell tokens using your connected wallet. Your wallet is used to pay the gas fee in the native currency of the respective chain, which is MON on Monad.

What is gas?

Gas is essential to blockchain networks. It is the fuel that allows them to operate in the same way that a car needs gasoline to run. Gas is a fee required to successfully conduct a transaction on the blockchain and keeps the network secure.

Do gas fees go to gmonad.meme?

No, gas fees do not go to gmonad.meme.

Why does gas change?

Gas fluctuates with increased/decreased demand and the price of the native token. Due to gas price fluctuation, the cost of transactions will differ depending on the transaction type and token price. When the networks are experiencing a high volume of transactions, the fee will be higher. Users can wait for the gas price to come down or submit a price they are willing to pay and wait for the transaction to be confirmed; however, if the gas price limit is too low, validators can ignore such transactions.

Learn more about how Gas works here: Gas (Ethereum)