🦄 UniLogin and the Quest for a Better Txn Fees UX
Transaction fees remain one of the main usability challenges for Ethereum and blockchains in general. There are a few different problems with them.
Problem 1: Fluctuations
Fluctuations gas prices make fees unpredictable. The chart below is just one illustration of how volatile gas prices can be.
Problem 2: Necessity of ETH
A user may want to move ERC20 tokens around but still needs ETH to do it. This can result in what the user perceives as a bizarre situation where, despite possessing significant assets, they get an “Insufficient funds” error message.
Problem 3: Fee calculations
The fee calculation model is somewhat complex, which leads to a bad user experience.
A New Hope
Here is an interesting fact: in our interviews with dapp developers, many of them stated they would gladly pay fees for their users, as long as they made money on their users’ actions.
People familiar with the topic can already see that trend in Argent’s fair use gas policy.
To fight fee related challenges with UniLogin, we are introducing two fee modes.
Mode 1: Meta-transactions with token fees
If the user has to pay their own fees, it is now possible to pay them with the ERC20 tokens already in their possession instead of ETH using meta-transactions. This means users not only don’t need to have ETH, they don’t have to even known what ETH is.
Below is a video of RSVPing to an event on Kickback…
…and the full on-boarding flow with wallet creation using only DAI (with our favorite on-ramp provider Ramp):
You can try this out with one of our partners: GnosisSafe, Kickback or Jarvis.
Mode 2: Fee-less transactions
If a dapp developer decides they want to cover user fees, the UX becomes even better. Just create a wallet and send transactions. No fee dialogs, no transaction speed widgets, no unnecessary UI bloat.
Check out the video below in Jarvis Wallet which demonstrates creation of a wallet…
…and sending a transaction with this method:
The Future of Fees
These new features are introduced in UniLogin Beta 4 — 0.6.0
Shoot us an email to marek [at] universallogin.io if you would like to test fee-less transactions on your application.
In the future, we envision our customers dynamically making decisions of whether to cover a user’s fee or not based on various inputs: transaction data, the state of network and reputation of the user.
Bonus: Web3 Modal ❤️ UniLogin
As a bonus, we are happy to let you know that Web3 Modal now supports UniLogin!
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