Absolute rookie delegator question

Hi I am brand new to delegating and have read and watched the guide. Just wondering about the delegation process. Tried to delegate yesterday using MetaMask connection. Didn’t quite go to plan. I now have a transaction in my wallet saying GRT ‘approved’ with a small ether fee having been taken. Not sure what that means and wasn’t expecting it based on what I read should happen. I am just testing the waters with delegation ( the graph is my first) and am not delegating a huge amount but got spooked by a huge gas fee of double what I was aiming to delegate, so didn’t go ahead with it yet. Just for context it was 337 GRT and a proposed $650 worth of ether. Is this normal? Am I doing something wrong? Thanks heaps. Just think of me as a first time surfer paddling out the back at Jaws!

Hey, it will be better to see tx of your transactions, but basically: yes, it should be 2 transactions to delegating, first one approves the exact number of GRT that could be used for delegating, the second one is actual delegating.
Right now gas price in the Ethereum network is crazy, I don’t think so that it could be $650 in ETH(only if it was a gas price spike), but 100-200 with the current gas price is quite real, unfortunately.
That’s why delegating 100-300-500 GRT doesn’t make sense with the current state of the Network (Ethereum) from the economical perspective.
In the future, I believe we will move to L2 Ethereum networks and it will reduce all costs, but we don’t have any ETA now.

Thanks so much. You have answered my questions really well. Appreciate that. Just as a matter of interest what would a minimum amount to invest usually look like? And I realise obviously rate of return varies according to the quality of the indexer but what’s a range of likely return on GRT investment/delegation? Maybe it’s worth me pushing my investment up. Realise you can’t answer that btw!

Basically average APR for delegator is 8-12%, depends on several factors.
I can’t say instead of you “how much will be minimum” to make sense. For me 1k GRT per month as rewards is good enough, for other person 100k GRT per months is too low income :slight_smile:
Eventually it’s all about opportunity cost and your faith. If you have, $100k and thinking about better place to them, you should calculate opportunities by yourself. Nobody knows about future, level of adoption for GRT, price and etc.
I believe in The Graph, that’s why I’m here, working as an Indexer (from p2p) and personally as curator and delegator. But obviously I could make more money on something overhyped like Shiba :smiley:
Everyone should make his own choice :slight_smile:

Totally agree with all that Konstantin. Will check you out for indexing too. Appreciate the communication.