An Ethereum user attempting to participate in the Strips token sale on the MISO platform which is SushiSwap’s newly launched token sale platform paid a fee of $ 430,000 for a failed transaction.
According to The Block, because of the high competition, STRP tokens on the MISO platform were sold out in just a few seconds.
During the sale, the member tried to use Flashbots to gain priority. Flashbots allow you to send a transaction directly to a miner for prompt inclusion in a block. Flashbots transactions remain confidential until they are included in a block.
However, in this case, something went wrong, and the transaction ended up in a public mempool. Since STRP tokens were sold out too quickly, the transaction was unsuccessful, and the potential buyer was left without tokens.
However, he still paid the transaction fee, which was 123 ETH (about $430,000).
Flashbots product development manager Robert Miller tweeted:
This transaction was sent to the mempool. You can see here that Etherscan saw it in the mempol. Also, we never saw it in the Flashbots relay. pic.twitter.com/U79WmqL4ZX
— Robert Miller ⚡️??️ (@bertcmiller) October 13, 2021
A few weeks ago, Bitfinex paid a fee of $23.7 million for a transaction in USDT stable coins worth $ 100,000. Fortunately, the miner who processed the transaction returned $22.1 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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