Kromatika, the MetaDEX that offers protection from front-running, no slippage, and automatically processed limit orders, is about to go one step further, with their gasless swaps feature due to go live in the upcoming days.
When launched, it means whenever you trade on the Kromatika DEX in the optional gasless mode, you won’t have to pay $ETH or $MATIC gas fee even if you were swapping on Mainnet, Layer 2 networks or Polygon network.. That’s right, the crippling gas fees can finally be banished, and you save on ridiculous upfront costs. It’s crazy that it’s possible, but how does it work?
How Kromatika Created Gasless Swaps
Essentially, when you enable gasless mode, relayers pay the gas fees for you and publish them to the blockchain. These relayers are paid by taking a portion of the tokens a user receives as part of any trade. If you swap $KROM for $USDC, then a user receives slightly less USDC as a slice is used to pay the relayer. In exchange, you have to pay no upfront fees for the transaction.
All transactions made when Gasless Mode is enabled will work the same way. Biconomy will pay the gas fees and the user pays Biconomy relayers from the output amount of any given swap, no matter what the currency is.
This initiative by Kromatika has been worked on in close collaboration with Biconomy, who are market-leaders in helping Dapps pay gas fees on behalf of end users. Kromatika has adopted Biconomy’s Forward technology. Together they are creating a seamless, cheap, powerful DEX that cuts down on all the unnecessary ‘taxes’ that make crypto-trading such a challenge, and putting more money into the hands of their users.
The Headache of Constant Gas Fees
It’s not acceptable that users have to have ETH or MATIC in order to use any dApp, and to have to suffer fees just for trying out a new protocol. It can take a long time to acquire that ETH or MATIC in the first instance, with KYC roadblocks, and volatile gas fees that make doing any activity uncomfortable. By abstracting away these problems through Biconomy it allows Kromatika to offer a unified payment scheme for every trade they want to do. If you swap $KROM for $SUSHI, you’ll pay fees in $SUSHI. If you swap $UNI for $MAKER, you’ll pay in $MAKER, and so on and so forth.
Constantly having to use $ETH or $MATIC makes this practice unwieldy and inefficient. By using gasless transactions, and relaying transactions to others to cover the gas fees by taking a nominal hit to the amount you recieve, users have a far more streamlined experience just like using a CEX spot market trade function. The Kromatika relayers, who perform the microservice of paying the fees, make all of this function through the use of OpenZeppelin technology.
The Biconomy relayers, as stated before, are paid in the output token (the token they are swapping for in a trade). It does not matter what that token is. No gas fees – whether ETH or MATIC – are paid at any point.
Optional Feature
It’s essential to note that this feature is entirely optional. Kromatika has gone further than most DEXs when it comes to rampant cost reduction for its users. Kromatika already keeps fees as low as they can through their DEX aggregator, and many users will prefer to just keep using $ETH or $MATIC to pay gas when trading on the dApp. However, as these users explore more and more of Kromatika’s functionality, particularly the limit order integration with Uniswap v3 and the MetaDEX aggregator, the more it will make sense to use the gasless feature. Yet, it’s at the discretion of the user – and will continue to remain that way.
Kromatika Delivering Their Roadmap
Kromatika is a community driven project that is focused on community-first experience. The introduction of gasless swaps offers a user-friendly holistic experience where one on-chain protocol can be used for all trading activities without worrying about having a token in reserve, like $ETH or $MATIC, to pay for gas – and at a lower, less volatile rate than occurs when using the underlying chain directly.
Kromatika is seeking out every single advantage it can, from every latest technology, to push down fees for users. They know that for DeFi to truly become a modern financial system, gas fees need to be kept to a minimum. Well, with the optional gasless feature, they may not exist at all. With this launch, that dream is finally a reality.
