As of today, 1.033 to 1.039 million transactions occur daily on the ethereum chain. This staggering number keeps increasing daily as the adoption of the ethereum blockchain is steady.
Ethereum blockchain requires computational resources to execute transactions on the chain; each trade requires a fee. Gas refers to this fee required to conduct a transaction on Ethereum successfully.
However, with the limited block space and the gas fee for Ethereum on a sharp rise, it's becoming increasingly difficult for users to continue making transactions and avail value.
ZeroSwap, since its inception, has built meta-transactions which empower users with the functionality of a relayer to pay for gas on their behalf when they transact on the ethereum chain. We have successfully & sustainably built our infrastructure to provide users with gasless transactions on six major chains, Polygon, Avalanche, Binance, Optimism, Celo and Fantom, by creating our meta-relayer.
To take this gasless journey forward, ZeroSwap is now supporting gasless transactions on Ethereum with its Gasless On Ethereum campaign.
How To Participate in ZeroSwap's Gasless On Ethereum Campaign?
This campaign will be available for all users once they stake a minimum of 5000 $ZEE tokens on the Ethereum Chain. Once a user has staked $ZEE, they can continue making up to 5 Free trades on the ethereum chain without paying any gas for the campaign's duration. (Read Below about the Campaign's Duration)
Once users exhaust the five free trades available, they can continue making swaps via the direct trade option on the ZeroSwapDEX.
Benefits of Staking $ZEE
Staking $ZEE comes with multifold extended-lasting benefits for users:
1. Gasless Trades: ZEE stakers can avail gasless swaps on the ZeroSwapDEX now on seven chains Polygon, Avalanche, Binance, Optimism, Celo, Fantom and now Ethereum.
2. IDOs On ZeeDO: Stakers get access to the ZeroSwapLabs IDO platform ZeeDO, allowing them to participate in the public sale of unique projects.
3. High APYs: Users get access to high reward annual percentage yields (APY) on the ZeroSwapDEX.
How will gasless swaps on the Ethereum Chain work?
To access gasless swaps on Ethereum Chain, we are starting with the first "Go Gasless with ZeroSwap on Eth" Campaign.
ZEROSWAP's FIRST ETH Campaign Details:
- We are bootstrapping ETH in ZeroSwap's DEX Manager Address. Initially, we infuse a pool of 5-10 ETH.
- Staking 5000 $ZEE is a pre-requisite to access gasless trades on ethereum.
- Each user gets 5 free trades per day until the pool exhaust.
- The campaign ends once the campaign pool is empty.
- A protocol fee of 0.4% is taken for the campaign to make the protocol sustainable.
Illustration of ZeroSwapDEX, which enables gas-less trades on Ethereum Chain.
ZeroSwapLabs's Gasless On Ethereum Campaign aims to improve user experience in decentralised transactions and ultimately contribute towards increasing Web3 adoption. The meta relayer removes the dependency of having a chain native token in the wallet, making DeFi equal to TradeFi.
ZeroSwap provides users with a simplified way to swap on multichains with zero gas fees. We pay gas for users when they swap on-chain using meta-transactions.
We are live on Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Optimism, & Celo and plan to integrate Aurora and Arbitrum Chain soon.