Say Goodbye to Gas Fees: How Ethos Makes DeFi Frictionless
Say Goodbye to Gas Fees: How Ethos Makes DeFi Frictionless
Picture this: you're ready to swap some tokens, but your wallet prompts you to pay a gas fee in Ether (ETH)... which you don't have. Now you're stuck scrambling to buy ETH just to complete a simple transaction. Frustrating, right?
Here’s the good news! Ethos is implementing gasless transactions. No more worrying about whether you have the right native token on hand to pay gas fees. Instead, Ethos lets you focus on what really matters: exploring, trading, and experiencing DeFi the way it was meant to be.
Curious how it works and why it’s a game-changer? We’ll break it down for you.
What Are Gas Fees — and Why Do They Matter?
First things first, what are gas fees anyway?
Gas fees are the transaction costs involved in executing actions on a blockchain, like transferring tokens or interacting with smart contracts. They’re measured in the blockchain's native currency—for example, ETH on Ethereum or SOL on Solana. Think of them as a “processing fee” for using the network.
Why do gas fees frustrate people?
- They’re unpredictable. Fees rise during network congestion and can spike unexpectedly.
- They can get pricey. Imagine spending $20 just to trade something during high-traffic events.
- They require holding extra tokens. To swap on Ethereum, you need ETH for gas—even if you're only working with USDC or DAI.
For new users and experienced traders alike, these fees can often feel like a roadblock.
What Does 'Gasless' Actually Mean?
Gasless transactions with Ethos eliminate the need for you to pay gas in the blockchain's native currency. Instead, Ethos allows you to use the token you're swapping as payment for the gas fee.
Here’s an example:
- Say you're swapping USDC for DAI. Normally, you'd need a little extra ETH in your wallet to cover the gas fee if you're doing this on Ethereum. With Ethos, the platform handles the fee, or you can pay the gas in USDC instead. No ETH required!
“Gasless” doesn’t mean there’s no fee at all (blockchains still need to process the transaction), but it removes the hassle of managing native tokens for gas. Ethos makes this frictionless, so you can focus on the parts of DeFi that you want.
How Ethos Makes It Possible
Gasless transactions on Ethos are powered by innovative token standards—no relayers, no meta-transactions, no smoke and mirrors.
- Permit Functionality (EIP-2612 / ERC-20 Permit): Ethos uses the token’s built-in permit feature, which allows users to approve and authorize token transfers in a single signed message—without requiring a separate on-chain approval transaction.
- Single-Step Execution: Once you sign the permit, Ethos executes the swap and deducts the gas fee from the token you're swapping. This means no juggling native gas tokens, no need for separate approval transactions, and no surprise fees.
- Streamlined UX: No swapping for gas tokens, no juggling wallets—just a clean, efficient transaction flow.
The result? A
faster,
simpler, and more
seamless trading experience.
Benefits of Ethos' Gasless UX
These are just a few of the benefits users gain from gasless trading.
Accessibility
Gasless transactions remove one of the biggest barriers for new users. No need to master blockchain jargon or worry about buying specific tokens just to try out DeFi.
Speed
Swapping and staking become seamless. A simpler process means less time spent wrangling your wallet and more time enjoying the results.
Cost Savings
By optimizing gas payments and reducing the need for extra transactions (like swapping for ETH), users can avoid inflated fees during network congestion.
What You Can Do Right Now (Gasless)
Here’s the exciting part: gasless transactions on Ethos aren’t “coming soon”—they’re already here. Here’s what you can do:
- Trade Across Chains: Swap tokens between different blockchains with ease.
- Stake Tokens: Participate in staking opportunities without worrying about holding gas tokens.
- Discover New Projects: Explore tokens and projects without getting bogged down by transaction costs.
Download the app and try your first gasless trade now. No ETH required!
