Decentralized exchanges operate on blockchain networks, typically utilizing smart contracts to execute trades. These smart contracts require computational resources to validate and record transactions accurately.
Fees serve as an incentive for network participants, often referred to as "miners" or "validators," who contribute their computational power and maintain the integrity of the blockchain by verifying transactions. The fees compensate them for their efforts and encourage a secure and efficient network.
For each chain, a different asset may be needed:
- Ethereum mainnet → ETH token
- Polygon → MATIC (Polygon network).
- Binance Smart Chain → BNB (BSC network).
- Arbitrum → Arbitrum ETH (ARBETH)
- Optimism → Optimism ETH (OETH)
- Base → Base ETH (BASEETH)