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[Uncle Detective] Investigative Notes: Transferring Funds Without Native Token? Unveiling the Mystery of Paymaster
Ladies and gentlemen, while reviewing the Plasma (XPL) technical manual today, Uncle Detective discovered a feature that excites beginners but makes this detective frown. The official promotion heavily claims that transferring USD₮ on Plasma doesn't require holding native tokens as gas. This is a lifesaver for many who have suffered from Ethereum's exorbitant transaction fees.
But Uncle Detective wants to ask: Is there really such a thing as a free lunch?
🔍 The Hidden Force: Who Pays for You?
The core of this technology is called Paymaster (the payment agent mechanism).
Operating Logic: When you initiate a transaction, you don't need to hold $XPL . Instead, Paymaster acts like a helpful payment agent, covering the on-chain native gas for you.
**Cost Transfer:** After the initial payment, the system will directly deduct an equivalent fee from the USD₮ or other custom Gas tokens you transferred as compensation.
**Customization Freedom:** It even supports using various tokens to pay transaction fees, completely freeing users from the constraint of "having to buy the native token before transferring."
**⚠️ Detective's Notes: Privacy Hidden Doors Behind Convenience**
While this "Gas freedom" is convenient, in the eyes of this detective, it's a precise line of defense for monitoring:
**Centralized Path:** All payment transactions must go through a designated Paymaster contract. This means that every transaction path you take is under the control of the official or institutional entity.
**Starting Point for Identity Verification:** Combined with the zkEmail verification we mentioned earlier, this mechanism allows institutions to easily identify "who are the genuine users eligible for subsidies."
**Excessive Authority:** The payment contract has the authority to calculate and deduct assets. If the pricing power of payment fees is monopolized by institutions in the future, the so-called "zero transaction fees" could easily become "hidden high tolls."
An older gentleman reminds everyone: In the world of Web3, all convenience often comes at the cost of sovereignty and privacy. While enjoying the smooth experience of Paymaster, don't forget that this "payment agent" is quietly watching every single transaction you make.
#plasma $XPL @Plasma #大叔偵探 #Paymaster
Ladies and gentlemen, while reviewing the Plasma (XPL) technical manual today, Uncle Detective discovered a feature that excites beginners but makes this detective frown. The official promotion heavily claims that transferring USD₮ on Plasma doesn't require holding native tokens as gas. This is a lifesaver for many who have suffered from Ethereum's exorbitant transaction fees.
But Uncle Detective wants to ask: Is there really such a thing as a free lunch?
🔍 The Hidden Force: Who Pays for You?
The core of this technology is called Paymaster (the payment agent mechanism).
Operating Logic: When you initiate a transaction, you don't need to hold $XPL . Instead, Paymaster acts like a helpful payment agent, covering the on-chain native gas for you.
**Cost Transfer:** After the initial payment, the system will directly deduct an equivalent fee from the USD₮ or other custom Gas tokens you transferred as compensation.
**Customization Freedom:** It even supports using various tokens to pay transaction fees, completely freeing users from the constraint of "having to buy the native token before transferring."
**⚠️ Detective's Notes: Privacy Hidden Doors Behind Convenience**
While this "Gas freedom" is convenient, in the eyes of this detective, it's a precise line of defense for monitoring:
**Centralized Path:** All payment transactions must go through a designated Paymaster contract. This means that every transaction path you take is under the control of the official or institutional entity.
**Starting Point for Identity Verification:** Combined with the zkEmail verification we mentioned earlier, this mechanism allows institutions to easily identify "who are the genuine users eligible for subsidies."
**Excessive Authority:** The payment contract has the authority to calculate and deduct assets. If the pricing power of payment fees is monopolized by institutions in the future, the so-called "zero transaction fees" could easily become "hidden high tolls."
An older gentleman reminds everyone: In the world of Web3, all convenience often comes at the cost of sovereignty and privacy. While enjoying the smooth experience of Paymaster, don't forget that this "payment agent" is quietly watching every single transaction you make.
#plasma $XPL @Plasma #大叔偵探 #Paymaster
Zero fee USDT, don't rush to boast: Plasma's real moat is protocol-level risk control.
Last night I saw the comments section again brushing 'forever zero Gas.'
I didn't join in the excitement.
Instead, it feels a bit chilly.
Because on the chain, free has never disappeared,
It is just being transported, and it must be controlled.
These two messages pushed me to flip through the documents:
— USDT on @Plasma went live on @WhiteBit
— USDT on @Plasma went live on @MassPay_io
The entrance is becoming more real, and the narrative can no longer stop at just the word 'welfare.'
1. First, clarify the zero fee: it has a scope, it is not indiscriminately free.
Plasma is currently sponsoring: direct USDT transfers.
Not all chains are free.
Not all transactions are exempt from Gas.
I didn't join in the excitement.
Instead, it feels a bit chilly.
Because on the chain, free has never disappeared,
It is just being transported, and it must be controlled.
These two messages pushed me to flip through the documents:
— USDT on @Plasma went live on @WhiteBit
— USDT on @Plasma went live on @MassPay_io
The entrance is becoming more real, and the narrative can no longer stop at just the word 'welfare.'
1. First, clarify the zero fee: it has a scope, it is not indiscriminately free.
Plasma is currently sponsoring: direct USDT transfers.
Not all chains are free.
Not all transactions are exempt from Gas.
Circle Launches Payment Solution Paymaster On Ethereum Arbitrum & Base
Circle, a peer-to-peer payments company, recently announced the launch of Circle Paymaster, a strategic stablecoin payments solution.
According to the platform’s official blog post, Circle Paymaster facilitates gas fee payments in USDC on Ethereum-based Arbitrum and Base.
Notably, Paymaster provides a seamless transaction experience for users, eliminating the need for native tokens like Ethereum (ETH).
The use of USD Coin (USDC) for gas fee payments demonstrates the growing adoption of stablecoins as a reliable alternative to highly volatile cryptocurrencies.
Circle Launches Stablecoin Payment Solution Paymaster
In a strategic development, Circle unveiled Paymaster as a strategic solution for gas fee payments.
Paymaster is now live on Ethereum’s Arbitrum and Base, offering clients the option to pay gas fees with Circle’s USDC instead of the native ETH.
Circle wrote in an official X post, “No more juggling tokens across blockchains—simply use USDC for payments, transfers, and gas fees.”
Notably, the move intends to remove the friction caused by the requirement of ETH for the gas fee payments. This prerequisite leads to poor user experience, especially for users who do not hold ETH.
The native token requirement can also cause transaction failures and regulatory challenges.
Thus, Circle’s Paymaster initiative envisions providing a better space, solving a major friction point for onchain transactions.
Paymaster Visions Stablecoin Solution Across Multiple Blockchains
Further, Circle revealed its intention to expand Paymaster services to more blockchain platforms including Ethereum, Polygon PoS, and Solana. The further expansion of the payment solution could foster stablecoin adoption and acceptance.
As per reports, a 10% fee of the gas cost is charged per transaction. However, this fee is temporarily waived until June 30 to promote adoption.
#Circle #CircleIPO #Paymaster #CryptoMarket #CryptoNews
Circle, a peer-to-peer payments company, recently announced the launch of Circle Paymaster, a strategic stablecoin payments solution.
According to the platform’s official blog post, Circle Paymaster facilitates gas fee payments in USDC on Ethereum-based Arbitrum and Base.
Notably, Paymaster provides a seamless transaction experience for users, eliminating the need for native tokens like Ethereum (ETH).
The use of USD Coin (USDC) for gas fee payments demonstrates the growing adoption of stablecoins as a reliable alternative to highly volatile cryptocurrencies.
Circle Launches Stablecoin Payment Solution Paymaster
In a strategic development, Circle unveiled Paymaster as a strategic solution for gas fee payments.
Paymaster is now live on Ethereum’s Arbitrum and Base, offering clients the option to pay gas fees with Circle’s USDC instead of the native ETH.
Circle wrote in an official X post, “No more juggling tokens across blockchains—simply use USDC for payments, transfers, and gas fees.”
Notably, the move intends to remove the friction caused by the requirement of ETH for the gas fee payments. This prerequisite leads to poor user experience, especially for users who do not hold ETH.
The native token requirement can also cause transaction failures and regulatory challenges.
Thus, Circle’s Paymaster initiative envisions providing a better space, solving a major friction point for onchain transactions.
Paymaster Visions Stablecoin Solution Across Multiple Blockchains
Further, Circle revealed its intention to expand Paymaster services to more blockchain platforms including Ethereum, Polygon PoS, and Solana. The further expansion of the payment solution could foster stablecoin adoption and acceptance.
As per reports, a 10% fee of the gas cost is charged per transaction. However, this fee is temporarily waived until June 30 to promote adoption.
#Circle #CircleIPO #Paymaster #CryptoMarket #CryptoNews
Circle Launches Paymaster, Enabling Gas Fee Payments with USDC...$
Circle, the issuer of the USDC stablecoin, has introduced a new feature called Paymaster, which will allow users to pay blockchain transaction fees or gas fees, using USD.
As per the announcement, the feature is currently available on the Arbitrum and Base networks. This gas fee requirement has traditionally required users to retain currencies like Ether and others on-chain, with transaction failures occurring when there are insufficient funds to cover gas fees.
Traditionally, blockchain users are required to pay gas fees in the native token of the network, like ETH for Ethereum. This can be inconvenient for users who do not hold these tokens or want to avoid managing multiple cryptocurrencies across different networks.
Paymaster eliminates this complexity by handling gas fees automatically. Users only need to hold USDC, while Paymaster converts it into the required native token to process transactions seamlessly.
Paymaster is also developer-friendly. It integrates easily with any wallet that supports the ERC-4337 token standard and does not require a Circle Console account.
This permissionless tool ensures a smooth experience for users while giving developers the flexibility to remove the need for native tokens in their applications. With comprehensive documentation available, developers can quickly implement this feature and enhance their app’s functionality.
While Paymaster typically charges a 10% fee on the gas amount, Circle is offering the service for free until June 30, 2025.
#CryptoInnovation #blockchain #defi #Paymaster #CryptoPayments
Circle, the issuer of the USDC stablecoin, has introduced a new feature called Paymaster, which will allow users to pay blockchain transaction fees or gas fees, using USD.
As per the announcement, the feature is currently available on the Arbitrum and Base networks. This gas fee requirement has traditionally required users to retain currencies like Ether and others on-chain, with transaction failures occurring when there are insufficient funds to cover gas fees.
Traditionally, blockchain users are required to pay gas fees in the native token of the network, like ETH for Ethereum. This can be inconvenient for users who do not hold these tokens or want to avoid managing multiple cryptocurrencies across different networks.
Paymaster eliminates this complexity by handling gas fees automatically. Users only need to hold USDC, while Paymaster converts it into the required native token to process transactions seamlessly.
Paymaster is also developer-friendly. It integrates easily with any wallet that supports the ERC-4337 token standard and does not require a Circle Console account.
This permissionless tool ensures a smooth experience for users while giving developers the flexibility to remove the need for native tokens in their applications. With comprehensive documentation available, developers can quickly implement this feature and enhance their app’s functionality.
While Paymaster typically charges a 10% fee on the gas amount, Circle is offering the service for free until June 30, 2025.
#CryptoInnovation #blockchain #defi #Paymaster #CryptoPayments
$JCT JANCTION has established a strategic alliance with Xyra Labs (@xyralabs_).
We will begin jointly developing the core infrastructure for the OEM/white-label wallet "JANCTION Wallet", focusing on Account Abstraction (AA) and gas fee abstraction (Paymaster, etc.).
Our goal is to reduce friction related to key management, signing, and gas, bringing the onboarding experience closer to a Web2-like login.
We will accelerate onboarding into the Jasmy Chain ecosystem with a smoother and more intuitive wallet experience.
#50weeksIR(9/50)
#JANCTION #JasmyChain #AbstracciónDeCuentas #Paymaster #Web3Wallet
We will begin jointly developing the core infrastructure for the OEM/white-label wallet "JANCTION Wallet", focusing on Account Abstraction (AA) and gas fee abstraction (Paymaster, etc.).
Our goal is to reduce friction related to key management, signing, and gas, bringing the onboarding experience closer to a Web2-like login.
We will accelerate onboarding into the Jasmy Chain ecosystem with a smoother and more intuitive wallet experience.
#50weeksIR(9/50)
#JANCTION #JasmyChain #AbstracciónDeCuentas #Paymaster #Web3Wallet
Circle Launches Payment Solution Paymaster On Ethereum Arbitrum & Base
Circle, a peer-to-peer payments company, recently announced the launch of Circle Paymaster, a strategic stablecoin payments solution. According to the platform’s official blog post, Circle Paymaster facilitates gas fee payments in USDC on Ethereum-based Arbitrum and Base.
Notably, Paymaster provides a seamless transaction experience for users, eliminating the need for native tokens like Ethereum (ETH). The use of USD Coin (USDC) for gas fee payments demonstrates the growing adoption of stablecoins as a reliable alternative to highly volatile cryptocurrencies.
Circle Launches Stablecoin Payment Solution Paymaster
In a strategic development, Circle unveiled Paymaster as a strategic solution for gas fee payments. Paymaster is now live on Ethereum’s Arbitrum and Base, offering clients the option to pay gas fees with Circle’s USDC instead of the native ETH. Circle wrote in an official X post, “No more juggling tokens across blockchains—simply use USDC for payments, transfers, and gas fees.”
Notably, the move intends to remove the friction caused by the requirement of ETH for the gas fee payments. This prerequisite leads to poor user experience, especially for users who do not hold ETH.
The native token requirement can also cause transaction failures and regulatory challenges. Thus, Circle’s Paymaster initiative envisions providing a better space, solving a major friction point for onchain transactions.
Paymaster Visions Stablecoin Solution Across Multiple Blockchains
Further, Circle revealed its intention to expand Paymaster services to more blockchain platforms including Ethereum, Polygon PoS, and Solana. The further expansion of the payment solution could foster stablecoin adoption and acceptance.
As per reports, a 10% fee of the gas cost is charged per transaction. However, this fee is temporarily waived until June 30 to promote adoption.
It is noteworthy that the Paymaster launch followed Circle CEO Jeremy Allaire’s significant statement regarding Donald Trump’s potential crypto policies. Allaire remains optimistic about the future incorporation of crypto trading services within the US banking sector.
Hashnote Acquisition and Tokenization of Real-World Assets
Recently, Circle acquired Hashnote, the company behind the $1.3 billion USYC tokenized money market fund. The stablecoin issuer’s move focuses on connecting traditional finance with blockchain technology.
Jeremy Allaire stated, “We helped invent tokenized cash, and are now leading the way in tokenized money markets, both of which we believe will become essential to the future of the global financial system.”
The Hashnote purchase, together with the Paymaster launch, underscores Circle’s efforts to expand its presence in the digital asset market. It also demonstrates the platform’s aggressive growth strategy in the industry.
#Circle #CircleIPO #Paymaster #CryptoMarket #CryptoNews
Notably, Paymaster provides a seamless transaction experience for users, eliminating the need for native tokens like Ethereum (ETH). The use of USD Coin (USDC) for gas fee payments demonstrates the growing adoption of stablecoins as a reliable alternative to highly volatile cryptocurrencies.
Circle Launches Stablecoin Payment Solution Paymaster
In a strategic development, Circle unveiled Paymaster as a strategic solution for gas fee payments. Paymaster is now live on Ethereum’s Arbitrum and Base, offering clients the option to pay gas fees with Circle’s USDC instead of the native ETH. Circle wrote in an official X post, “No more juggling tokens across blockchains—simply use USDC for payments, transfers, and gas fees.”
Notably, the move intends to remove the friction caused by the requirement of ETH for the gas fee payments. This prerequisite leads to poor user experience, especially for users who do not hold ETH.
The native token requirement can also cause transaction failures and regulatory challenges. Thus, Circle’s Paymaster initiative envisions providing a better space, solving a major friction point for onchain transactions.
Paymaster Visions Stablecoin Solution Across Multiple Blockchains
Further, Circle revealed its intention to expand Paymaster services to more blockchain platforms including Ethereum, Polygon PoS, and Solana. The further expansion of the payment solution could foster stablecoin adoption and acceptance.
As per reports, a 10% fee of the gas cost is charged per transaction. However, this fee is temporarily waived until June 30 to promote adoption.
It is noteworthy that the Paymaster launch followed Circle CEO Jeremy Allaire’s significant statement regarding Donald Trump’s potential crypto policies. Allaire remains optimistic about the future incorporation of crypto trading services within the US banking sector.
Hashnote Acquisition and Tokenization of Real-World Assets
Recently, Circle acquired Hashnote, the company behind the $1.3 billion USYC tokenized money market fund. The stablecoin issuer’s move focuses on connecting traditional finance with blockchain technology.
Jeremy Allaire stated, “We helped invent tokenized cash, and are now leading the way in tokenized money markets, both of which we believe will become essential to the future of the global financial system.”
The Hashnote purchase, together with the Paymaster launch, underscores Circle’s efforts to expand its presence in the digital asset market. It also demonstrates the platform’s aggressive growth strategy in the industry.
#Circle #CircleIPO #Paymaster #CryptoMarket #CryptoNews
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