Gasless Transaction

At this point, it's a well-known fact that managing and paying gas tokens for your on-chain transactions has always been a pain. While the account abstraction method in EIP-4337 can help abstract away gas completely, not all users or ecosystems have adopted EIP-4337. Given that more than 80% of users are still using EOAs instead of a smart contract accounts, XY Finance is now ready to support Gasless Transaction to bring a better UX to our cross-chain swap service for everyone.

What Is Gasless Transaction?

Gasless Transaction is an optional method added to our token swap interface that enables users to swap certain tokens without paying gas on-chain.

How Does It Work?

To allow EOAs to perform transactions gaslessly,

  • Permit (EIP-2612) is used to collect an off-chain token approval signature from user EOAs

  • EIP-712 is used to collect an off-chain transaction signature from user EOAs

  • A Relayer EOA will send the transaction on-chain by paying gas itself

  • User EOA signatures are still mandatory in this process, all transactions can only be processed on-chain if proper signatures are provided

    • Our smart contracts will revert the transactions if the signatures are invalid

When Gasless is enabled, our platform covers the network gas cost using our native tokens. In return, a corresponding fee is deducted from the original token used in the swap to offset that cost. For example, if a user swaps USDC on Arbitrum to a meme token on Base, the fee is taken directly from the USDC amount being swapped, no additional tokens are spent from the user EOA. Refer to Fee Structure for more details on the fee structure.

How Can I Use Gasless Transaction?

  1. Select a token labeled with Gasless next to its symbol

  2. Proceed with your swap configuration, click Review Route to continue

  3. At the Confirmation page, you can enable Gasless with Pay Fees With <Token> toggle

  4. Upon clicking Transfer, you will be asked to sign a token approval

  5. After token approval is signed, you will still be asked to sign a transaction

  6. Once the approvals are signed, your transaction will be sent on-chain for processing

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