Written by: Arman Vaziri & Parker Cardwell (Co-Founders of Peaze)
Introducing Peaze as the convenience layer protocol for DeFi.
The funding and execution of on-chain transactions is a challenging and manual process that requires buying crypto, transferring to a wallet, bridging to the correct chain, swapping to the correct token, maintaining gas token balances, and more. The inability to execute a transaction without first performing a handful of other manual steps is a massive and unacceptable problem.
At a technical level, on-chain liquidity has reached a stage where it can move freely; plenty of advancements have been made with on-ramps and bridging/swapping mechanisms. However, the delivery of these advancements hasn’t been very exciting. On-chain transactions are always intent based with an end goal, and swapping/bridging is only a means of completing the end goal. Unfortunately, users have been responsible for manually handling these steps as if they are desired actions themselves. Until now.
Peaze works as a super-powered relayer, handling gas abstraction as well as any necessary swapping and bridging in real time. Tell Peaze what you want to do and how you want to pay for it, and consider it done. Peaze automates the movement of data and funds as needed in real-time, ridding the need for primitive manual steps.
The Peaze protocol operates as a network of smart contracts deployed on supported chains that execute transactions on senders' behalf via meta-transactions. More details on the technical specifics will be discussed in coming weeks.
Our goal is to streamline the funding and execution process of all on-chain transactions, but here are some example use cases we’re excited about:
- Depositing into a liquidity pool with any token. For example, a DAI pool on Arbitrum using Optimism USDC.
- Staking with any token. For example, staking ETH using DOGE.
- Buying NFTs with any token. For example, buying an NFT on Polygon with PEPE on Ethereum.
- Seamless token purchases. For example, buying a meme coin on Base using Ethereum USDC.
Over the next few months, our team will work closely with select partners to iterate on the protocol, bring it out of beta, expand its capabilities, and build some products on top of it.
If you’re building something cool and want to partner with us, reach out here.
If you want to help us build the convenience layer protocol for DeFi, reach out here.
Stay up to date on our build by giving us a follow on Twitter, Medium, and Github.
