11 days ago
One-Click DeFi: Gasless Swaps & Zaps
- While the potential of DeFi is vast, its widespread adoption has been hampered by a complex user experience
- Users often grapple with intricate transactions, hidden yields, and multiple gas & network fees every step of the way
- With the help of Gelato Relay, Portals is remedying these challenges!
Gelato Relay: Powering Gasless Swaps & Zaps
The Galaxy Broadcasting System was created by combining Gelato Relay’s capabilities and Portals’ expansive offerings. Instead of a traditional transaction, the system utilizes 'intents,' which allow for more flexible transaction pathways: simply provide an input token and the desired outcome, and Portals takes care of the rest. Complex, multistep orders are executed gaslessly with no failed transactions, in one click.
Gelato Relay processes all gasless orders made on Portals through Account Abstraction, thus eliminating the need to hold native tokens to pay for gas on specific blockchains. As a result, users can utilize gasless approvals and pay gas fees using any available token in the route, including:
- Liquidity Pool tokens
- Vault tokens
- Interest-Bearing tokens
- Liquid Staking Derivatives
Together with the vast range of tokens compatible through Portals, this offers the most comprehensive Gasless Swap & Zap options in the industry.
How It Works
The Galaxy Broadcasting System uses EIP-712 signed orders (intents) as a mechanism for users to describe their desired outcome. For example, a trader can sign an order that says they would like to acquire and stake LSDs (Liquid Staking Derivatives) in the highest-yielding Aura vault with their USDC.
After signing an order describing this intent, Portals, using its Warpdrive algorithm, determines the optimal route to satisfy the conditions described in the intent. Once the route has been established and simulated to determine its outcome, an unsigned transaction is assembled, which contains the signed intent from the trader in addition to the steps needed to complete the order. This unsigned transaction is then handed off to Gelato as part of the Galaxy Broadcasting System (GBS) to complete the gasless order.
Gelato handles the execution of the payload assembled by Portals via the Gelato Relay.
Leveraging its network of decentralized executors, Gelato ensures that transactions are validated quickly while maintaining the integrity of the data contained in the order. Furthermore, Gelato supports all of the other cutting-edge patterns used by Portals, including smart contract signatures (via EIP-1271) and gasless approvals (via EIP-2612).
This means that traders never have to worry about gas, gas prices, failed transactions, or queueing up and submitting multiple transactions on different dApps. Within a few seconds of receiving the payload, the intent is turned into reality, and the desired position is created for the trader by Gelato and Portals, completely gaslessly and in a single transaction.
Why Portals Chose Gelato
In addition to easily plugging into the Portals stack and removing the need to create the GBS from scratch, Gelato utilizes USDC for their 1balance payment system. This eliminates the need for the Portals team to manage gas tokens on multiple networks.
These features further reduce the overhead and development costs associated with managing the GBS, allowing the Portals devs to remain focused on building and improving the core product.
“Building with Gelato Relay has been a pleasure. Gelato has excellent documentation and guidance, and their permissionless sponsored calls are easily plugged into our intent-based system.”
Nabi Ozberkman, CTO @ Portals.fi
Through the Galaxy Broadcasting System, developed in partnership with Gelato, Portals provides a seamless, gasless swap & zap experience. This innovation is a major step toward reducing network strain, enhancing token utility, and bringing DeFi closer to mainstream usage.
Portals is a protocol aggregator for transaction bundling, intent-based orders, and real-time data. It supports 8 networks, more than 2,600 protocols, and over 35,000 tokens. Portals facilitates multiple DeFi actions, bundling them into user-friendly, one-click interactions. By partnering with Gelato, Portals can ensure users don’t face excessive gas & network fees; they achieve this through the integration of the Gelato Relay.
Streamlining the DeFi experience without sacrificing possibilities is a crucial tenet of Portals. Take for instance our Swap capabilities; as user-friendly as any other similar service, but with hidden depth: over 35,000 tokens are compatible with Portals. Additionally, with our Zap capabilities; a traditionally complex series of actions turned into a single click, with the bonus of Portals’ extensive offering of Pools to choose from.
Gelato is web3’s decentralized backend empowering builders to create augmented smart contracts that are automated, gasless & off-chain aware on all major EVM-compatible blockchains including Ethereum, Arbitrum, Polygon, Optimism, zkSync, and many more. Over 400+ web3 projects have relied on Gelato for years to power the execution of millions of transactions across DeFi, NFT, and Gaming.
Gelato currently offers four services:
Web3 Functions: Connect your smart contracts to off-chain data & computation by running decentralized cloud functions.
Automate: Automate your smart contracts by executing transactions automatically in a reliable, developer-friendly & decentralized manner
Relay: Give your users access to reliable, robust, and scalable gasless transactions via a simple-to-use API
Account Abstraction SDK: Gelato has partnered with Safe, to build a fully-fledged Account Abstraction SDK, combining Gelato's industry best gasless transaction capabilities, with the industry's most secure smart contract wallet
If you are interested in being part of the Gelato team and building the future of the internet browse the open positions and apply here.