Since the tokens where released to our wallets from the Coinlist sale, a lot of people
are converting there CFG to wCFG (ethereum), for various reasons.
I read that alot of people are having issues with the Token Bridge where they get a failed transaction witch is costing them 200 CFG.
Its already expensive to use the Token Bridge, but to pay the 200 CFG for a failed attempt is just overkill in my opinion.
The failed transactions are mainly because of how it calculates the transfer amount.
If you have 5000 transferable CFG and you are trying to transfer amount of 5000 to wCFG you will get a failed transaction that will cost you 200 CFG + network fees.
For the transaction to be successful you must type in 4800 = (5000-200) or it will fail.
My suggestion is that the 200 CFG should be subtracted from the total amount you are about to transfer, and a failed transfer should not const you 200 CFG or you will have more people loose there CFG.
I know at least 3 people, including me, that have lost tokens because of this, and I read that more people have lost there CFG due to this reason.
In August, CFG (not wrapped) will be tradable on Coinlist and possibly others, so the whole bridge issue will be non-existent.
Also I don’t understand why people need to bridge their tokens, Coinlist and Centrifuge gave participants in the token sale a clear choice how they wanted their tokens.
why people want to move there tokens to back and forth.
I guess everyone have there own reason.
this post is about making the existing tools better and more user friendly,
so it doesn’t steal its own community members coins due to
to poor or misleading calculation.
I get your point, and if you want to move tokens back and forth, that’s possible. The team clearly communicated that the bridge uses an Ethereum smart contract and thus uses a lot of gas. That’s why the fee is hefty.
In the telegram channel they have addressed this issue, unfortunately Ethereum is expensive to use, and they are looking into optimizing the bridge, so fees can be decreased.
The allegations that the bridge steals from its own community members is ridiculous.
Centrifuge is building on the cutting edge of technology, so as a token holder you should expect inconveniences. Coinlist and Centrifuge have given everyone the option to get their token the way they want it (wCFG/CFG), and even provided a bridge for those who want to migrate their tokens to Ethereum and vice versa.
As I pointed out, the issue you are having will be solved pretty soon once exchanges will provide off chain swaps (see link below).
In a nutshell, you are complaining about Ethereum’s inefficiencies… my solution is, just don’t use Ethereum.
there is a tool, and a problem, which now is communicated.
people (more than plenty) getting failed transactions witch costs them 200 CFG due to how this Bridge is calculating the “transfer amount”.
all I want is to enlighten the team about it, so they can look into it, highlight this issue around it,
and maybe consider refund some of thus who has lost money due to this. that is all…