BlockWorks Article: https://blockworks.co/news/aurox-wallet-ethereum-transactions
Gas fees suck! One transaction at a time, your ETH disappears while at the same time making the DeFi user experience challenging.
Run out of ETH? Too bad, your Web3 wallet might as well be useless.
Now, imagine a world where the DeFi community no longer faces the infuriating burden of using ETH to pay for swap fees. A world where transactions are seamless, smooth, and completely decentralized.
That world is now a reality to the thousands of Aurox Wallet users. All thanks to Aurox’s Gasless Swapping contracts — the first set of smart contracts making up the Aurox Trade Protocol.
No more Gas anxiety!
No more forgetting about ETH, only to realize you can no longer execute a transaction!
No more going to centralized exchanges, paying ridiculous withdrawal fees, just so you can continue interacting with the blockchain!
And that’s not all. Our revolutionary approach also protects you from those predatory MEV bots via Flashbots, ensuring a bot won’t frontrun your transaction.
Swap with confidence through the Aurox Wallet!
This game-changing solution takes us one step closer to bringing DeFi to the masses. All possible with the help of Chainlink Price Feeds integrated into our routing contracts.
How it works
Swapping tokens on the Ethereum chain usually requires users to have ETH in their wallets and pay for gas at every step, creating a cumbersome barrier to DeFi adoption.
While some solutions claim to be “gasless,” they often come with a myriad of caveats.
Enter Aurox Wallet: A Truly Gasless Experience
Aurox’s innovative protocol enables any token swap on the Ethereum blockchain without requiring users to hold ETH. That’s right, no ETH. Even a brand-new wallet with only USDC can swap it to URUS with a single click.
Instead of prompting the user to deposit ETH into their wallet, the smart contract will automatically convert some of the input tokens into ETH to pay for the network fee. This is done seamlessly behind the scenes.
In practice, this will look something like this:
- Say you want to swap Token A and Token B, but don’t have any ETH in your Aurox Wallet. No problem.
- The Protocol will automatically take a small part of Token A and convert it to ETH to pay the block producers. Again, done seamlessly behind the scenes.
- The swap goes through.
With the Aurox Wallet, the user doesn’t have to worry about anything else. The contract handles everything behind the scenes. The contract even taps into Chainlink Price Feeds to help make sure you get the best swap rate!
This simple, powerful functionality is what differentiates Aurox from the rest. Aurox sees a complex problem on the blockchain and develops a simple solution that harnesses the of power decentralization.
The Power of Chainlink Price Feeds
To help make sure our users receive the best price and best execution possible, we’ve integrated the industry-standard Chainlink Price Feeds into the contracts.
Chainlink Price Feeds provide price reference data that’s sourced from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes — helping ensure our users get the best rate possible.
Critical features built into Chainlink Price Feeds’ architecture include:
- High-Quality Data — Data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
- Reliable Nodes — Price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
- Decentralized Infrastructure — Both the data sourcing and transmission on-chain are decentralized, removing any central point of failure.
- Blockchain Agnostic — Chainlink is blockchain agnostic, making it straightforward integration with the ability to quickly expand Aurox into new blockchain environments in the future.
We plan to integrate Chainlink Automation, a highly reliable and decentralized smart contract automation service, to add another layer of utility for the Aurox Wallet. Specifically, Automation will help automate transaction execution to streamline the user experience and combine the best parts of Web2 (the UI) with Web3.
Our future developments will help make DeFi trading easier, more accessible, and more profitable than ever before… to the point that even your parents can tap into DeFi protocols with ease.
So get ready to receive even better, easier, safer ways to trade and get involved in Web3, using software you wish you had known about sooner.