Gasless transactions with Stackup
Gasless transactions with Stackup
Gasless transactions using USDC now live on Polygon testnet.
In our last post we talked about why account abstraction is important and a practical pathway to achieving it. One example of a use case we highlighted was how much simpler sending USD to a friend could be through the use of smart contract wallets.
To demonstrate the benefits and UX improvements of account abstraction we recently released an alpha version of Stackup on the Polygon testnet which anyone can use. Also check out the short YouTube video above to see how much easier it is to send money back and forth between two accounts when you only have to deal with a single currency and no seed phrase!
TL;DR
You can try out gasless transactions on testnet here: testnet.stackup.sh
Join the Discord to request some testnet USDC and send your first transaction!
Frequently asked questions
With an experience this easy, you might have questions as to how it all works. Here are the answers to some common questions you might have. We also recommend giving the account abstraction article a read if you’re curious about how the tech works under the hood.
Is this just a centralised solution that records transactions in a private database?
Not at all! Every transaction is settled on the blockchain and we don’t store plaintext passwords and signing keys or have a custodial wallet that manages everyone's funds. Your assets are 100% in your control.
What happens if Stackup goes offline?
Since everything is settled on the blockchain, you will always have access to your funds regardless of what happens to Stackup. As we build out our platform we will also be releasing a bunch of tools to make sure your assets aren’t just always available but also easy to access no matter what.
Learning to code a script to interact with smart contracts on a blockchain is probably the last thing you want to do in an emergency. Which is why we’ve already got a bunch of ideas on this front, so stay tuned for more future updates!
How does Stackup make money?
At the moment we provide a service as a paymaster and charge a flat $0.10 fee to sponsor gasless transactions for users. However, we will likely be iterating on this with the community as we go.
Is Stackup open source?
Yes! Everything from the contracts to our frontend and backend is completely open source and transparent. You can check out our GitHub repository here.
How can I try this out for myself?
The alpha version of Stackup is currently being hosted on testnet.stackup.sh. You can create a profile and join the Discord to request some testnet USDC to play around with.
What’s next for Stackup
We are two Co-founders committed to building an accessible web 3 that aligns with the values of the Ethereum community. Since quitting our tech jobs we’ve been working hard to release a public alpha version for anyone to try. Although this is just one very limited use case, it serves as a proof of concept to build towards a social transaction layer for web 3 that billions of people can easily use.
From here we’ll be continuing to implement other important features from social recovery to multi-chain support with a goal of an audited mainnet release in 2022.
In the meantime, be sure to join the Discord to follow our progress, ask questions, and give us your feedback!
Subscribe and follow us @stackup_fi if you’re interested in making Web 3.0 more accessible!