Wido is bringing gas-free transactions to yearn.finance on the Fantom blockchain.
Gas-free transactions allow users to deposit or withdraw from vaults on Fantom without paying gas. Wido will fully cover gas. No FTM tokens are needed to transact.
Open app.joinwido.com. You will see a list of vaults that grow your stable coins. Find one you like with the "Gas-free deposit" button. Clicking the button will open a deposit (or withdraw) dialog.
Next, follow the steps in the dialog – it will ask you for two signatures. The first is a token Approve and the second is for the actual withdrawal. Wido will cover gas for both of those transactions.
Gas-free withdrawals are also available and work similarly.
Note: yearn.finance vault tokens (up to version 0.4.3) do not support Permit with EIP-712 signatures. For that reason, the gas for approving these tokens needs to be paid by the user. It is technically not possible for Wido to cover the gas for the user. We will work with the team from yearn.finance to address this issue.
Wido wants to improve the UX of DeFi. We think users should not worry about gas when interacting with DeFi products. Users should not need to buy the native token of each chain to transact there. Enabling gas-free transactions for yearn.finance on Fantom is our early step in this direction.
The transaction cost on Fantom is small, so covering it is not a massive cost for Wido. For the user, not worrying about gas is a huge UX improvement.
On Ethereum, we offer batch transactions, which allow you to save up to 90% in gas. Learn more here. We are exploring other chains and will share more in the future.
Gas-free transactions were made with 💚 in collaboration between Wido and yearn.finance.