Gas on Ethereum is high. A simple deposit into a protocol like yearn.finance might easily cost $200 or more. The same applies to vault withdrawals or migrations.
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 80% 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 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 yearn.finance. We are working to integrate Wido Together with other protocols on Ethereum. Reach out if you have an integration in mind or if anything is not clear. We love hearing from you. 💚
We have covered some frequently asked questions in our chat with Facu from yearn.finance
We have successfully executed a few batches on mainnet already. The 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.