It’s important to check if there are any hidden fees when depositing or withdrawing your crypto assets from a farm or pool. This guide focuses on how to check for the maximum deposit and withdrawal fee of a pool on the Arbitrum network.
Step 1. Find the MasterChef contract #
First, we need to get the MasterChef contract address. You can usually find it on the docs page of a farm or on our website rugdoc.io. Still not sure how to find the MasterChef contract? No worries, read this guide!
Step 2. Open the MasterChef contract #
Open the Arbitrum block explorer and paste the address in the top right corner and hit enter. In this example, we are using Onyx Farm’s Masterchef contract.
Step 3. Read the contract #
Now that we have opened the MasterChef contract in the Arbitrum block explorer, it’s time to read it. Don’t worry, this is easy. Scroll down and click on the ‘Contract’ button, then click ‘Code’.
Now, in order to find the withdrawal and deposit fees, scroll down and click inside the ‘Contract Source Code’ section and. press Ctrl+f. Then, type ‘withdrawfee’ or ‘depositfee’. ‘In the case of Onyx Farm, the maximum withdrawal fee is 350 BP, which translates to 3.5% of your crypto assets.
Congratulations! You are now able to find the maximum withdrawal and deposit fees for the pools of a farm. Remember to always check the fees of a farm before depositing your crypto assets in one of its pools. It might happen that there are zero deposit fees but extremely high withdrawal fees!