Biconomy has already processed more than 100,000 gasless meta transactions on Binance Smart Chain, xDai and Polygon
Blockchain startup Biconomy, which helps developers provide a simplified transaction and onboarding experience for web3 projects, announced yesterday it was extending support to the Avalanche ecosystem.
With the average Ethereum transaction fee recently surging to an all time high of almost $40, many decentralised app (dapp) users are looking for alternatives. While layer 2 networks offer one possible solution, there is also the option of meta transactions, which enable decentralised finance (DeFi) users to conduct instant transactions at no cost.
The greatest support for meta transactions has been achieved by Biconomy, which is already integrated with Binance Smart Chain, xDai and Polygon. So far, more than 100,000 gasless meta transactions have been processed on these networks.
Avalanche has already established itself as a good alternative to Ethereum for launching DeFi applications, as its fast, low cost transactions are carried out in a secure and scalable network. This attracted various promising projects to Avalanche, such as; decentralised margin trading and lending platform bZx; decentralised cloud services provider Aleph.im; currency-backed stablecoin network e-Money and decentralised exchange Pangolin.
In fact, just yesterday Avalanche revealed yet another integration, this time with Cartesi – layer-2 infrastructure which will allow Avalanche developers to code smart contracts with mainstream software stacks and higher computational scalability.
Avalanche projects will now be able to offer users services at no cost by using Biconomy’s meta transaction relayers to sponsor gas fees. Meanwhile, Biconomy’s powerful application programming interfaces (APIs) mean that developers can provide their end users with a simple and customised transaction journey without having to tackle all the complexities of blockchain.
Biconomy are working towards making the entire multi-chain experience seamless and intuitive, with various projects already in the works. Avalanche developers can currently integrate Biconomy testnet on their dapps, with mainnet support planned to be provided in the coming weeks.
As well as February being a busy time for Avalanche integrations, it has also been an exciting month for its native token AVAX, which surged around 350% in its first 10 days, although it has since retraced by more than half.
After a listing on Bitpanda a couple of weeks ago, AVAX was listed on Crypto.com yesterday and today Binance enabled cross margin trading on it.