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https://warpcast.com/~/channel/brypto
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MM
@listen2mm.eth
Have you ever wondered how Rainbow can pay weekly rewards to it's users? I reckon most of the rewards pool comes out of their collected trading fees from in-app swaps. (Disclaimer: I love Rainbow, it's my preferred mobile wallet) When you swap using Rainbow, you're paying a premium for convenience. ChatGPT says they charge a 0.85% swap fee. The difference between the estimated receivable BNKR in Rainbow vs the best DEX aggregator swap when I checked was close to 0.95%. The difference between Rainbow and the worst DEX agg. swap on Defi Llama was less than .005% -- not bad at all 🌈 All that to say, you might want to consider using a DEX or DEX aggregator instead of Rainbow, especially if you're trading volume is significant. I doubt Rainbow weekly rewards is returning 0.85% of your weekly volume but would love to hear from folks who are using Rainbow swap frequently. I recommend using swap.defillama.com as it is an aggregator of aggregators and does not have any additional fees.
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eggman 🔵
@eggman.eth
I mentioned this a long time back - the weekly rewards are just partial cash-back on the fees that are taken by the wallet. 1% fees are imo, extremely high for a wallet; given an additional 0.3% - 1% will be taken by the pool itself. The assumption on most people's part is rainbow will drop a token using the fees, but.. well, there haven't been any promises made there. But to date, a very substantial amount of cash has been raised via those wallet fees, and the gamified points system that support it.
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Thumbs Up
@thumbsup.eth
Yeah, I recognized this from the moment rewards were launched. It's a big part of why I do most of my swaps through matcha in the browser.
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