High Fees Hinder Crypto Constitution Bidder Refund Process

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Investors are now demanding that the ConstitutionDAQ team pay fees of up to half of its refund after it failed to buy a rare original copy of the U.S. constitution.

The ConstitutionDAO now faces refunds of about $40 million for 17,000 investors which it was able to raise in the Ethereum.

Although the group explained that the repayment of investors remains a top priority, some issues need to be taken into account, including the high fees charged for carrying out the various crypto transactions.

Since fees have to be paid to those who operate the computer systems to facilitate transactions, fees rise sporadically depending on how busy the network is.

The group said on its website that it had 17,437 donors with a median donation of $206.26.

High ‘gas’ fees, therefore mean that those who contributed a small donation will be hit in the search for a refund.

One user testified on the Discord app that in order to get their $400 back, they had to pay $168 in gas fees to those who run the computer systems to facilitate transactions, while others simply complain that the fees were higher than they originally donated.

For more information, read the original story on the BBC.

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