Ethereum’s Rapidly Changing Gas Market and Sponsored Transactions on Authereum
Starting on Wednesday, June 24th, transactions on partnered dapps including Erasure Bay, OpenSea, and Gitcoin will be free as well as transactions on authereum.com¹. All other transactions will require a transaction fee in line with the current market.
Over the past few months we’ve seen gas prices rise to many multiples of what we previously considered normal. This is to be expected with Ethereum gaining traction before it is able to increase its throughput with Ethereum 2.0. We welcome this increased usage with open arms (although we wouldn’t mind seeing the Ponzis fizzle out) but also need to reassess our costs to meet the rapidly changing market and ensure we can continue to serve our growing community.
Moving forward, our team will be actively exploring layer 2 solutions that will enable the truly frictionless experience that we’re striving for. We hope to have more exciting news on this front soon.
[1] Wallet Connect transactions as well as transfers that trigger additional smart contract functionality will require the users to cover the transaction fee.
