Introducing gasless swaps and approvals with Gasless API

Today, we’re excited to introduce gasless swaps to enable developers to improve user conversion and retention with a frictionless trading experience.

Published on
January 22, 2024
News
Introducing gasless swaps and approvals with Gasless API

The smoothest trading experience in DeFi has arrived.

Today, we’re excited to introduce gasless swaps to enable developers to improve user conversion and retention with a frictionless trading experience.

Since we launched 0x Swap API in 2020, we have enabled 500+ teams to easily tap into 100+ exchanges across 9 chains, facilitating over $139 billion in volume across 65 million trades from 7 million end users.

Expanding upon 0x’s core platform offering, Gasless API takes the next step in combining decentralized trading with a frictionless experience for users.

Simplify the DEX experience

As the space heats back up, a major question still facing developers is how to onboard the next wave of users to Web3. Reducing the complexity of using crypto and improving the experience of interacting with blockchains will be key.

Still today, a major source of friction for users is gas and the complexities it adds to daily Web3 life - gas spikes, trades get stuck, token balances drop too low. All of these scenarios create obstacles for users trying to do what should be a simple thing: make a trade.

And this frustration doesn’t just impact users, insufficient gas hurts product conversion funnels. According to Coinbase Wallet, one of our beta partners, 69% of Ethereum swaps encounter a "not enough gas" error when the user starts the trade, a large impediment to conversion.

While Account Abstraction holds promise for enabling more user-friendly experiences in the future, Gasless API makes this possible today.

Gasless swaps eliminate the burden on users of maintaining sufficient balances of multiple native tokens across wallets. Simplify user flows by offering gasless swaps in your app and allow your users to start trading with any token that’s in their wallet.

When a gasless trade is made, Gasless API covers the gas fee up front and token approvals are combined into the transaction. This cost is then wrapped into the trade and paid by the user in the form of the token they’re trading, eliminating the #1 cause of incomplete trades.

The result? Utilizing Gasless API, Matcha was able to improve conversion and significantly simplify the DEX experience - reducing failed trades by 85% compared to competitors, confirming transactions on chain by an average of 1 block earlier, and protecting thousands of trades from MEV attacks. Following the release of gasless swaps, Matcha saw a 7% increase in the number of trades QoQ, while the number of daily active traders grew by 20%. Try gasless swaps with Matcha Auto.

Gasless API is also composable with Swap API for the ultimate solution in execution optionality. Coinbase Wallet leverages Gasless API to supplement its existing trading experience powered by Swap API. When a user has insufficient gas, Coinbase Wallet automatically switches to a gasless experience, allowing them to quickly complete the trade.

Together with Swap API, gasless swaps enable you to build the most flexible and seamless trading flows for users in Web3.

The benefits of Gasless API

⛽ Gasless swaps and approvals

Simplify user flows for your app and allow your users to start trading with any token that’s in their wallet. Users won’t be confronted with upfront requests for approvals and network fees, these are abstracted away into the backend. Gasless embeds gas fees into the trade and covers re-submission costs, so users don’t have to worry about failed transactions or holding native tokens in their wallet to make a trade - improving conversion and retention.

⚡Faster trade confirmation

Sometimes just a few cents in gas fees can be the difference between a transaction going through quickly and one getting stuck in the mempool awaiting confirmation. Gasless API dynamically adjusts gas fees in real time by simulating transactions and optimizing for speed, making trades 2x more likely to land in the next block.

✅ Improved trade reliability

Trading on DEXs can be unreliable. On average, 8-10% of DEX transactions fail, and during periods of network congestion that can spike to as high as 20%. Gasless API performs a simulation of transactions before submitting so it can stop potentially bad transactions before they’re even sent, saving users gas fees and headaches.

💧 Deep liquidity

Gasless API comes with access to deep liquidity from 100+ AMMs and professional market makers. On a technical level, Gasless wraps Swap API’s world-class smart order routing into a highly optimized meta-transaction to ensure the best prices. All trades are automatically routed through the deepest liquidity, including exclusive RFQ liquidity, for easy access to over 4 million tokens.

🛠️ Built for developers

Built by developers for developers. You can implement gasless swaps and get real-time quotes with just a few lines of code. 0x offers a comprehensive set of tutorials, demo apps, and API references to make building with Gasless a breeze.

Start building today

Gasless API is currently available on Ethereum, Optimism, Base, Arbitrum, and Polygon.

Join over a dozen teams, including Robinhood, Coinbase, and Matcha, already building with Gasless API. Check out our quick guide to get started today.

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