[FEATURE] Gasless swap to EGLD

lucaswillems
Thu, 07 Sep 2023 09:32:24 +0000
General Discussions

The problem: It is possible for a new user to create a wallet, have funds, but no EGLD, e.g.:

User bridges USDC/USDT/BTC/ETH/UTK/INFRA from Ethereum to his new MultiversX wallet. He will have USDC/USDT/BTC/ETH/UTK/INFRA on his wallet but 0 EGLD.

User buys MEX with an on-ramp solution for his new MultiversX wallet. He will have MEX on his wallet but 0 EGLD.

User withdraws UTK from Binance to his new MultiversX wallet. He will have UTK on his wallet but 0 EGLD.

In all these cases, the user has funds but no EGLD, and so he is stuck. He can’t do anything because he has no EGLD to pay the gas for any action. In particular, he can’t swap his funds to EGLD because he has no EGLD to do so.

This is quite painful to get unstuck. You either need to buy EGLD with an on-ramp solution or need to go on a centralized exchange to buy EGLD and then withdraw it to your wallet.

A solution: Allowing gasless swaps to EGLD for wallets that have not made any transaction yet.

More precisely:

The gas will be paid by a relayer using relayed transactions.

Because the situation where a wallet has funds in his wallet but no EGLD only happens once in the wallet history, this should not cost much to the relayer.

If costs were to be too big for the relayer, a small fee could be charged on the output EGLD to reimburse the relayer.

What do you all think?

15 posts - 7 participants