How fees work on the ETC-WETC TokenBridge

faq
#1

Assumptions

  1. There are three bridge validators
  2. Bridge entrance (ETC-to-WETC) fee is 0.2%, and exit fee (WETC-TO-ETC) is 0.2%

A user wants to transfer 1500 ETC to the Ethereum Mainnet chain

  1. 1500 ETC are locked on the TokenBridge contract in the Ethereum Classic chain.
  2. A bridge entrance fee of 3 WETC tokens is minted on the Ethereum Mainnet side and distributed among the bridge validators. Every validator receives 1 WETC.
  3. The remaining 1497 WETC are minted on the Ethereum Mainnet side and sent to the user’s address.

A user wants to transfer 600 WETC to the Ethereum Classic chain

  1. 600 WETC are burnt in the Ethereum Mainnet chain.
  2. A bridge exit fee of 1.2 ETC tokens is unlocked on the Ethereum Classic side and distributed among the bridge validators. Each validator receives 0.4 ETC.
  3. The remaining 598.8 ETC are unlocked on the Ethereum Classic side and sent to the user’s address.
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Introducing ETC Bridge and wrapped Ethereum Classic (WETC)
WETC Listed on IDEX Exchange