Rising $AVAX gas fees have been painfully cutting into #Crabada profits, but just how bad are they now?
I've analyzed the average gas fees of #Crabada actions over the past 2 weeks to find out.
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There are 3 main actions for Miners:
* Start Mining: Average 0.015 $AVAX
* Reinforce: Average 0.013 $AVAX
* Close Mine: Average 0.009 $AVAX
Each time you mine, you'll need need Start & Close but typically also 2x Reinforce to aim for Miner's Revenge.
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So the average cost of mining once will be:
Start + (2 x Reinforce) + Close = 0.015 + (2 x 0.013) + 0.009 = 0.05 $AVAX
The EV(Expected Value) of a good mining team such as CCP (Craboid x2 + Prime) is ~220 $TUS per mine (converting $CRA to $TUS for easy comparison).
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Plugging in current market prices of:
$AVAX/USD: $69.82
$TUS/USD: $0.03
The EV per mine is (220 x $0.03) - (0.05 x $69.82) = $6.6 - $3.49 = $3.11
So on average, 53% of mining revenue is being lost to gas fees...
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Making matters worse, many players are swapping their $TUS earnings to $AVAX to ensure enough balance in their wallet to pay for gas fees, and this is further driving down the price of $TUS.
We're all holding our breath and eagerly waiting for @swimmer_network launch on 5/9