As high gas fees on the Ethereum network continue to pose serious problems, ZIPPY Zyfi is an innovative project that has emerged in the decentralized finance (DeFi) space. Zyfi aims to solve this problem by providing a flexible and ETH-independent solution for paying transaction fees. Let’s take a closer look at Zyfi and how it works.
What is Zyfi?
ZIPPY is a groundbreaking project that operates as follows: “Payer as a Service” Zyfi on zkSync, a Layer 2 scaling solution for Ethereum, allows users to pay transaction fees using any ERC-20 token they own, eliminating the need to rely solely on Ethereum (ETH) for gas fees. This not only saves costs, but also simplifies the management of multiple assets.
Structure and Function of Zyfi
Paymaster-as-a-Service
Zyfi offers: Paymaster-as-a-Service It allows users to pay transaction fees with ERC-20 tokens instead of ETH. This process is facilitated on the zkSync platform, simplifying fee payments and eliminating the risks associated with storing ETH in a wallet.
Account Abstraction
Zyfi leverages zkSync’s account abstraction feature to separate fee payments from the transaction itself. This allows user accounts to be treated as smart contracts, providing greater flexibility and allowing for custom fee payment logic.
Gasless Transaction
By leveraging account abstraction and the paymaster API, Zyfi enables users to make gas-free transactions. When a user initiates a transaction, Zyfi’s paymaster evaluates the user’s ERC-20 token balance and converts these tokens to ETH to cover gas fees and automate the fee management process.
Meta Transaction
Zyfi uses meta transactions, where transactions are signed by users and sent by a third party (paymaster) who pays the gas fee. This setup allows users to interact with decentralized applications (DApps) without holding ETH, as the paymaster contract ensures that the gas fee is paid.
Off-chain logic and signature verification
Zyfi runs off-chain logic to verify transaction conditions and user signatures before submitting transactions to the blockchain. This approach improves security and efficiency by ensuring that only valid transactions that meet predefined conditions (e.g. sufficient ERC-20 balance, user eligibility) are processed.
Custom Paymaster Logic
Zyfi allows developers to customize the paymaster logic to meet specific requirements, such as implementing an address whitelist or creating a contract sponsorship program for a specific event or promotion. This flexibility allows DApps to tailor their gas fee management strategy based on their user base and business model.
GP Team
Gothier: As CEO, Gauthier leads Zyfi’s overall vision and strategy. With a deep understanding of the blockchain landscape, he leads the company toward ambitious goals.
Giovanni: As CTO, Giovanni oversees the technical development of Zyfi’s products and platforms. His expertise in blockchain technology ensures that our solutions are cutting edge and secure.
Roman: As our full-stack engineer, Roman plays a key role in building and maintaining our robust technology infrastructure. His versatility allows him to seamlessly integrate the various components of our platform.
Sasha and AntoineOur product strategists and business development professionals are dedicated to bringing Zyfi’s innovative solutions to market. Their combined skills in product management and business development drive growth and adoption.
investor
List of investors ZIPPY Not only is it impressive in quantity, it also reflects a careful selection process. The decisions of the following famous funds AngelDAO, Capital Knightsand White Loop Capital… with influential individuals such as Julien BoutellouInvesting in Zyfi shows that the project has passed a rigorous screening process. Their participation is not only based on Zyfi’s growth potential, but also because the project meets the strict investment criteria of these funds, especially in terms of the viability of the business model, the development team, and the practical applicability.
conclusion
To summarize, ZIPPY is a pioneering project that is revolutionizing the DeFi landscape by providing a seamless, efficient, and user-friendly solution for paying transaction fees via a Paymaster-as-a-Service model, leveraging the power of zkSync’s account abstraction technology. With advanced features and a high level of customization, Zyfi is poised to play a key role in improving user experience and reducing transaction costs on the Ethereum network.