BLOCKCHAIN
How to Reduce Gas Fees When Conducting Multiple Transactions on Polygon

2024-04-13 05:40:10
by Zloadr Tools Team
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When conducting transactions on blockchain networks like Polygon, users often face high gas fees, especially during periods of network congestion.

These costs can accumulate quickly, particularly for those executing multiple transactions, such as token distributions or NFT minting. To address this challenge, Zloadr offers efficient tools designed to minimize gas expenditures by aggregating transactions. This guide provides a step-by-step approach on how to use these tools effectively to reduce overall gas fees.

Step-by-Step Guide

Step 1: Access Zloadr’s Multi-Send Tokens Tool

  • First, navigate to the Zloadr platform and select the "Multi-Send Tokens" tool from the tools section. This tool is ideal for sending ERC20 tokens to multiple addresses in a single transaction.

Step 2: Connect Your Wallet

  • Click the “Connect” button to link your MetaMask wallet or any other supported wallet that contains your ERC20 tokens and has enough MATIC to cover gas fees on Polygon.

Step 3: Enter Token Contract Address

  • Input the contract address of the ERC20 token you intend to distribute. After entering the address, select "Fetch Token Info" to display details like token name and decimals, ensuring you have the correct token for distribution.

Step 4: Upload Recipient List

  • Prepare a CSV file or similar formatted list containing recipient addresses and the corresponding token amounts. Upload this file in the tool. Ensure the formatting is correct to avoid errors during processing.

Step 5: Review and Parse Data

  • Once the data is uploaded, use the “Parse” button to validate and prepare the data for the bulk send. This step confirms that the format matches expected inputs and is ready for transaction execution.

Step 6: Approve and Send Tokens

  • Approve the transaction in your wallet to allow the tool to interact with your tokens. After approval, click “Send Batch” to initiate the bulk sending process. This aggregates all individual transactions into one, significantly reducing the total gas fees.

Step 7: Confirmation and Transaction Details

  • After executing the batch send, the tool will provide a transaction ID and details. This serves as confirmation that the tokens have been dispatched to the listed addresses.
Additional Tips
  • Gas Fee Estimation: Always check current gas prices on Polygon before initiating transactions and aim to execute during lower fee periods.
  • Test Transaction: Perform a small test transaction before the full batch send to ensure all parameters are set correctly.
  • Security Checks: Double-check recipient addresses and token amounts for accuracy. Transactions on the blockchain are irreversible once confirmed.

By following these steps, users can effectively minimize gas expenses on the Polygon network using Zloadr’s Multi-Send Tokens tool, making it more economical to conduct multiple transactions simultaneously.

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