Ambire Wallet Releases First Network Fee Prepay Mechanism

Sofia, Bulgaria–(Newsfile Corp. – July 22, 2022) – Ambire, the first open-source, non-custodial and secure smart wallet focusing on ease of use, has launched a feature that will help users save significantly on fees: the Ambire Gas Tank.

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The Gas Tank is a feature that enables Ambire Wallet users to benefit from savings and cashback on transaction fees that are paid with stablecoins or ERC-20 tokens. This was possible thanks to Ambire’s capability as a smart wallet and was developed by the startup team as part of their vision to bring flexibility, ease of use and user-focused experiences to the web3 crypto scene.

The Gas Tank works similar to a prepay mechanism: the user pays credit in advance for network fees, through just one deposit.

Enabling the Ambire Gas Tank and making a deposit is simple and intuitive, thanks to the dedicated page on the wallet’s main menu:

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To make the most of the Ambire Gas Tank, users can pay network fees in stablecoins like USDT/USDC/DAI etc., as this is how the savings are most notable. If also combined with the batching transactions feature native to Ambire Wallet (grouping multiple operations together in one transaction), the feature will save hundreds of dollars of gas fees to avid Web3 users.

The Gas Tank uses the technology of Meta Transactions, which are transactions signed by one user but relayed (and thus paid for) by another. The transaction itself cannot be changed by the relayer. The Gas Tank supports many different tokens on multiple networks. When a user makes a deposit, they are thus prepaying the network fees they will eventually generate, with the relayer providing the actual ETH or other gas tokens for the transactions. Thus, the users will save on unnecessary gas fees for swapping and earn cashback from Ambire.

About Ambire

The Ambire multi-currency crypto wallet simplifies the process of buying, investing and managing digital assets. Designed to provide exposure to the best defi earning opportunities, the privacy-preserving wallet application allows users to diversify their portfolio while saving money on gas fees. The core Ambire team has been operating in the crypto sector since 2016 and has also pioneered a blockchain-powered decentralized marketplace for advertising as well as a staking portal.

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Ivan Manchev
Communications Manager

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