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While conducting a transaction on Ethereum, a specific fee is required to conduct it successfully, and that fee is called gas. Well, you all are already aware of what gas is! But, what if you are no longer required to pay the gas fee on Ethereum? In current times, the gas fee on Ethereum is one of the major concerns for the entire crypto community. Due to the high costs of Ethereum, people are nowadays looking for other alternatives. Matcha, the decentralized exchange aggregator, has found the solution to this increasing gas fees.
Matcha has recently announced the launch of gasless trading. Matcha is powered by the Ethereum project 0x, and it has rolled out a new feature that will help traders trade on the Ethereum blockchain without any gas fees.
Note that Matcha is a DEX aggregator allowing everyone to discover tokens at the best prices. T searches across all the major Decentralized exchanges, including Pancakeswap, Sushiswap, Uniswap, to get its users the best prices.
When a user connects its wallet to Matcha and signs a transaction, the order gets routed through the market makers quoting swap rates. Then, the market makers pay the gas fees on behalf of the user, and the trade is verified.
Gasless trading will allow the users to trade on Ethereum without paying any gas fees. This feature was launched by Matcha on open beta. The team has designed such a system where people can trade without slippage and gas fees. Sounds impossible, right?
This is an additional liquidity source that will run in parallel to Matchs’s traditional liquidity aggregation. Matcha will return an individualized and slippage free price quote when a user selects the option for a Gasless Trade. This slippage free price is quoted from market makers, and the transaction will be submitted to be verified if the user is ready to make the trade.
So, the users can trade with zero slippage and zero gas fees.
With the growth in crypt space, people are now focusing on the low gas fees alternatives to Ethereum, yet Ethereum is one of the robust blockchains. Matcha’s new feature will benefit those users who do not have enough ETH to pay for a token swap. Here, the market makers will pay the gas fees for users, but they can quote different prices to the actual market price for the swap. It might mean that users could have to pay higher fees compared to the regular Matcha swaps. It might need more clarity, yet the feature seems promising if appropriately executed.