We want to inform everyone that we will be introducing the first phase of Transaction Fees on Flow on October 16, 2021 at 7:30am PT (2:30pm UTC). This will be a flat fee of 0.00001 FLOW applied to every transaction submitted to the network.
How much is the Transaction Fee per transaction?
Transaction Fees are being introduced at a flat fee of 0.00001 FLOW per transaction. However, much like account minimum balances, Transaction Fees are subject to change. In the event that a change does occur, we will inform the community ahead of implementation.
Why are these being introduced?
The fixed Transaction Fee is meant to minimize and deter spam transactions.
Who will pay for these fees?
Flow was designed for seamless user experience and so, the payer signature on the transaction will be responsible for paying the fees. In many cases, this will be the wallet or dapp submitting the transaction on the user’s behalf. In the case of non-custodial wallets like Ledger, the user will be responsible for paying the fee directly.
You can acquire FLOW through various exchanges or DEXs, see the exchanges tab here for a community maintained list of these services: https://www.flowverse.co/ (Go to Projects and select Exchanges)
I’m an individual user (or submitting few transactions), how do I request a payer for my transactions?
If you are an individual user, or are not submitting a high volume of transactions, please pay your own transaction fees by acquiring the FLOW native token through secure means (a DEX or exchange) or sign up with a wallet who will pay them on your behalf.
You can acquire FLOW through various exchanges or DEXs, see the exchanges tab here for a community maintained list of these services: https://www.flowverse.co/ (Go to Projects and select Exchanges)
I’m a dapp developer or high-volume servicer, how do I request funds for my transactions?
As a developer in the FLOW ecosystem, you will need to acquire FLOW to service your users both in the creation of their accounts and in the submission of their transactions. You can acquire FLOW through various exchanges or DEXs, see the exchanges tab here for a community maintained list of these services: https://www.flowverse.co/ (Go to Projects and select Exchanges)
If you’d like support building in the ecosystem you can join the Discord server.
How will this impact the upcoming Spork?
The spork will proceed as planned and once it is complete, on the following day, the service account will submit a transaction which updates the transaction fee required to 0.00001 FLOW for all transactions submitted. Transactions signed by a payer with insufficient funds will fail.
What happens if a user’s account has insufficient funds to complete a transaction?
Transaction Fees will be enforced the same way account minimum balance and storage fees currently do. If an account has an insufficient amount of FLOW to cover transaction fees in their transaction, the transaction will fail.
If you have any questions regarding transaction fees, please feel free to reach out and we will assist as needed.