What are transaction fees and why do I need to pay them?
Any transaction made with Walliro incurs transaction fees. This includes:
- Asset transfers
- Settings changes (adding an owner, changing the threshold, etc.)
- DeFi Interactions (swapping tokens, locking funds in a DeFi protocol)
These fees do not go to Walliro, but instead directly to the miner of the blockchain network. More details on transaction fees on the Ethereum network.
Who has to pay fees?
Walliro is often used by teams to manage digital assets collectively. This raises the question by whom / how the transaction fee is paid if there are multiple signers involved. Today, the signer that executes a transaction pay the transaction fee (usually the last signer to reach the required threshold of signatures). So while pure confirmations in Walliro do not incur any fees, the executing signature will have to also include the full transaction fee required for the underlying transaction / DeFi interaction.