• Giddy, a crypto wallet company, has launched a new feature called „autogas“ that allows Polygon users to pay for transaction fees using USDC stablecoin.
• This eliminates the need for users to hold MATIC tokens in order to pay gas fees.
• The new feature is part of an effort from wallets and exchanges to create more friction-free payment experiences.
Giddy Lets Polygon Users Pay Gas Fees in USDC
Crypto wallet company Giddy is making it easier for Polygon users to pay their network transaction fees by introducing a new feature called „Autogas“. This allows users to use USDC stablecoin instead of MATIC tokens when paying gas fees. By eliminating the need for users to buy and hold MATIC tokens, Autogas removes a barrier that was preventing some people from using the platform.
Competition Among Wallets
This announcement comes as part of an effort among crypto wallets and exchanges to provide more friction-free payment experiences. MetaMask is one such wallet with tens of millions of monthly active users while Giddy currently boasts 100,000 total signups. 0x recently unveiled its own transaction relay API that allows both Ethereum and Polygon wallet uses to pay without holding native gas token, and Robinhood Markets has already signed up for the service.
According to Giddy’s CEO Eric Parker, Autogas will support even more tokens in the future and no additional cost or hassle will be incurred by the user as long they have USDC, GIDDY, or MATIC in their wallet. He also said that Giddy will not take any cut from these gas swaps.
As competition increases among wallets for a share of newer users who may not have prior experience with cryptocurrencies, it’s clear that we’re seeing improvements on how these networks are used on a daily basis. Making transactions simpler and faster is key if blockchain technology is ever going to become mainstream—and Autogas could be just what Polygon needs right now as it continues its ascent into the top echelons of Web3 protocols.
About Danny Nelson
Danny Nelson is CoinDesk’s Managing Editor for Data & Tokens. He owns BTC, ETH and SOL and can be found tweeting @realDannyNelson