Safe Optimised dApps
Saving you time and money when interacting with Web3
Improving Web3 together 🌈
Let’s not beat around the bush, Web3 gets pretty complicated and frustrating when it comes to user experience. Combine this complex UX with extremely high gas costs, and you get yourself an industry that is mostly accessible to only technically literate and wealthy users.
Gnosis Safe can help improve Web3's UX and accessibility through a feature called transaction batching. Transaction batching means combining multiple transactions into one rather than creating a new transaction for every Web3 interaction. This in turn:
- 💸 Reduces total gas fees by executing only one atomic transaction
- ⏱ Saves time that would have have been spent manually crafting and executing each individual transaction
The second benefit is even more valuable when it comes to multi-signature workflows, where there is a process of collecting signatures from multiple signers for each transaction. If dApps adopt this batching pattern and bundle more of their transactions together into one interaction — this would exponentially improve the multisig operations of individuals, teams and DAOs!
🔈 The responsibility is now on the dApp developers themselves to adopt this as a design pattern and recognise when a Gnosis Safe is interacting with their application. This can be done using the Safe Apps SDK 🔈
1inch takes the lead 🐎
1inch, a multi-chain DEX aggregator, have proudly taken that next step to a Safe-optimised ecosystem, by being one of the first to integrate ‘batched transactions’ to their dedicated Gnosis Safe App.
Usually, trades on 1inch require two separate transactions to make a trade. The first transaction approves the token to be swapped, while the second actually executes the swap. As a result, 2 independent transactions need to be mined consecutively, which means you have to:
- Select a trading pair
- Approve the token that should be swapped (+ pay gas fees)
- Collect other signatures if a multisig is used
- Go back to the app and initiate the swap (+ pay gas fees again)
- Again collect the signatures from other signers
Thankfully, 1inch has removed all that pain, and bundled this all into one atomic transaction, significantly reducing coordination time and gas fees! 🔥
How to see transaction batching in action 💌
- Access your Safe in the Gnosis Safe web app
- Enter the Apps section and select the 1inch app
- Initiate a trading pair and enter the parameters
- Click “Swap”
You’ll see Gnosis Safe’s signing prompt which automatically brings up two transactions to execute in one bundle, approve + swap.
👀 Voila! 👀 1inch has just saved you time and money that would have been spent crafting and executing two individual transactions. Now think about the benefits tx batching would bring to even more complex Web3 transactions that involve dApps like Uniswap, Maker and Rarible etc.
Tell your dApps to be Safe-optimised! 🔏
It is not a solo effort by Gnosis Safe to offer transaction batching, it is an ecosystem-wide play that requires dApp collaboration. The applications themselves need to incorporate this feature to bring the time and gas savings to their users. Help us reach out to them and improve the status quo!
In case you need more examples, here’s a list of Gnosis Safe Apps that leverage transaction batching today:
Learn how to Safe-optimise and leverage batched transactions
