How will Zerion Wallet launch L2 blockchain ZERO Network to achieve zero transaction fees?
Zerion Wallet to Launch Feeless Public Chain ZERO Network, Planned for Q2 or Q3 of This Year.
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Zerion Public Chain ZERO Network
Zerion: Expected Economic Impact Greater Than Subsidy Costs
Zerion Public Chain ZERO Network
According to The Block, the veteran all-in-one wallet Zerion is developing its own Layer 2 public chain, ZERO Network, based on Rollup technology. As the name suggests, ZERO means that it will be a zero-fee public chain.
Although Ethereum’s Cancun upgrade has reduced fees on major L2 chains, such as the Optimism mainnet with fees below $0.001, this still means that there are fees on L2 chains.
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Ethereum L2 fees significantly reduced, Optimism below $0.001, Base nearly zero dollars.
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In response to this, Zerion plans to achieve zero fees through subsidies to further improve user experience.
Zerion co-founder Evgeny Yurtaev said:
In the end, we realized that fees should not exist for end users. Paying fees on the blockchain is shocking and unfamiliar to anyone entering the blockchain space. Our current assumption is that with tens of thousands of dollars, we can subsidize millions of transactions, and in the first year, we expect the subsidy cost to be even lower.
Zerion: Expected Economic Impact Greater Than Subsidy Costs
Zerion expects to have its own L2 network, which will further enhance the visibility of its wallet and generate additional revenue, ultimately proving that subsidizing fees is reasonable.
Evgeny Yurtaev stated:
This can attract new wallet users who may eventually pay fees when using other applications or registering for premium services. For example, you can transfer some USDC to a friend for free, and your friend can start interacting with various Dapps on the ZERO Network. All of this should create a network effect for the wallet itself.
However, free services usually attract spam. After the official launch of ZERO Network, Zerion will check user wallet interactions related to transactions. If identified as spam, the fees will not be subsidized and users will have to pay them themselves.
Zerion also plans to collaborate with Dapp developers to share the cost of subsidizing transactions. Dapps will be able to pay user fees on the network.
When asked about EVM compatibility and which Dapps they will collaborate with on fee subsidies in the future, Zerion declined to comment.
Zerion
ZERO Network
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