Introducing Wido Together: save 80% in gas on Ethereum Layer 1
Transactions on Ethereum are getting increasingly expensive. A simple deposit into a protocol like yearn.finance might easily cost $200 or more. Layer 2s are promising to solve this problem by moving transactions away from the main chain. But some protocols and opportunities only exist on the Ethereum Layer 1 chain.
Wido Together helps save gas on the main Ethereum chain. It is not a layer 2 chain. Wido Together saves gas directly on Layer 1.
With Wido Together – a suite of products for gasless deposits, withdrawals and migrations, you can move your tokens from one vault to another gaslessly. You will save up to 90% in gas and you will not spend any ETH.
The way it works is quite simple. Wido collects vault deposit, withdraw or migrate transactions from multiple people together into a batch. Wido then executes the batch as a single transaction and splits the gas amongst all batch participants, resulting in significantly lower gas for everyone. The gas will be paid in the resulting token, so there is no need to have ETH to participate in batch transactions.
To try it out, go to https://app.joinwido com, select a vault tagged "gasless" and join withdraw, deposit or migration batch.
The protocol is live on mainnet. Recent batches with corresponding gas savings are available here.
Wido Together currently works with vaults from yearn.finance and pickle.finance. We are working to integrate Wido Together with other protocols on Ethereum. Reach out if you are interested in integrating Wido Together with your protocol. We love hearing from you. 💚
We have covered some frequently asked questions in our chat with Facu from yearn.finance
We have successfully executed batches on the mainnet. Recent ones can be seen here.
Our smart contracts have not been audited so use at your own risk. The code is publicly available on GitHub.
Follow Wido Bot to get notified whenever a batch is executed.