Gas Fees
Definition
Gas Fees are small blockchain network fees (e.g., MATIC on Polygon) required to process transactions.
What Are Gas Fees?
Gas fees compensate network validators for:
- Processing your transaction
- Recording it on the blockchain
- Securing the network
Think of it like a postal stamp - required to send your transaction.
Polygon Gas Fees
On Polymarket (Polygon network):
- Typical cost: $0.01 - $0.10 per transaction
- Paid in: MATIC tokens
- Speed: Transactions confirm in seconds
- Much cheaper than Ethereum mainnet ($1-50+)
Gas Fee Components
Gas Limit
Maximum computation you're willing to pay for:
- Simple trades: ~150,000 gas
- Complex operations: 300,000+ gas
- Unused gas is refunded
Gas Price
How much you pay per unit of gas:
- Measured in: Gwei (billionth of MATIC)
- Set by: Network congestion
- Higher price = faster processing
Total Fee Calculation
Total Fee = Gas Limit × Gas Price
Example:
- Gas Limit: 150,000
- Gas Price: 50 Gwei
- Total: ~0.0075 MATIC (~$0.01)
When You Pay Gas
Every Transaction
- Buying shares
- Selling shares
- Approving contracts (one-time)
- Claiming payouts
- Canceling orders
MetaMask Shows
- Estimated fee before signing
- Maximum possible cost
- Current network conditions
Managing Gas Costs
Keep MATIC Balance
- Maintain $2-5 worth of MATIC
- Automatically deducted
- Buy on exchanges (Coinbase, Kraken)
- Get from faucets (small amounts)
Timing
- Lower fees: Off-peak hours
- Higher fees: High network activity
- Check: gas trackers (polygonscan.com)
Batching
- Combine multiple trades
- Fewer transactions = less total gas
- Some platforms offer batching
Getting MATIC
From Exchanges
- Buy MATIC on Coinbase/Kraken
- Withdraw to Polygon network
- Send to your wallet address
- Use for gas fees
Faucets (Free Small Amounts)
- Search "Polygon MATIC faucet"
- Get ~$0.10-0.50 free
- Enough for 5-50 transactions
- May require social verification
Bridges
- Bridge from Ethereum mainnet
- Use official Polygon Bridge
- May have minimum amounts
Gas vs Trading Fees
Different types of fees:
| Type | Amount | Purpose | Goes To | |------|--------|---------|---------| | Gas Fee | $0.01-0.10 | Network operation | Validators | | Trading Fee | ~2% of trade | Platform revenue | Polymarket |
Common Issues
"Insufficient Funds for Gas"
Solution:
- Get more MATIC in wallet
- Check you're on Polygon network
- Ensure MATIC balance visible
"Transaction Failed"
Solutions:
- Increase gas limit 10-20%
- Wait for lower congestion
- Check USDC approval status
"Gas Price Too Low"
Solution:
- Let MetaMask auto-set
- Manually increase slightly
- Wait for network to clear
Advanced: Gas Optimization
Contract Approval
- One-time: Approve USDC spending
- Costs gas: But unlocks future trades
- Unlimited approval: Convenient but riskier
- Limited approval: More secure, re-approve as needed
Failed Transactions
- Gas still charged: Even if transaction fails
- Check conditions: Before signing
- Simulation: MetaMask shows likely outcome
Polygon vs Ethereum
Ethereum Mainnet
- Gas: $5-100+ per transaction
- Speed: 15 seconds to minutes
- Security: Highest
Polygon (Polymarket)
- Gas: $0.01-0.10 per transaction
- Speed: 2-5 seconds
- Security: Very high (Ethereum-backed)
Why Polygon?: Faster, cheaper, same security for prediction markets