Post
Topic
Board Announcements (Altcoins)
Re: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs
by
ozie
on 22/03/2021, 19:19:22 UTC

As for the exchanges not sure how much influence the NEM group has in the distribution process. I mean Poloniex has never even managed to implement the new fee model for XEM withdrawals wasting 100+ XEM for each transaction.

WHAT are you talking about?
You say poloniex has 100xem fee to withdraw?
If so, this is a scam and they are scamming people of their money.
It costs about 1.25 xem to send a transaction on NEM network
maybe max 1.5 if a message is included in the transaction.


They are paying most of the fee out of their own pocket. It does not cost you that much but they are paying the network way too much to accept the transfer. They have been doing this for years, no idea how it makes sense for them.

This for example is a recent withdrawal from Poloniex:


Hash               1db14ff628832fe0b449a4c34ee0519287d87d000cbeed935ec8d5df1f3652b3
Block             3120330
Timestamp     2021-03-22 14:26:06
Type               transfer
Sender           NBZMQO7ZPBYNBDUR7F75MAKA2S3DHDCIFG775N3D
Recipient        ND72SWJGHA7L7ECKIGWE5GLPSN5PYR6S3GZZOQBC
Amount          334,000
Fee                122.72027 !!!!
Message         298a3236-eaa1-47ac-813a-3ce5a9af999f