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Traditional transactions

Transactions require users to sign and broadcast themselves. This requires gas tokens along with any other tokens that the transaction may require.

For example, if a user wants to deposit 100 USDC into a vault on Ethereum, they would need a balance of 100 USDC as well as a sufficient balance of ETH to pay for gas.

Cross-chain transactions complicate this further, requiring the user to have gas tokens on the source chain to bridge and gas tokens on the destination chain to execute the intended transaction.

For example, if a user wants to deposit 100 Ethereum-USDC into a vault on Base, they would need a balance of 100 USDC as well as a sufficient balance of Mainnet ETH to pay for the gas of bridging, and a sufficient balance of Base ETH to pay for the gas of the target transaction.

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What is a meta-transaction?

Meta-transactions eliminate the need for users to hold a balance of gas tokens. Rather than signing and broadcasting a transaction, users sign messages that describe the intended transaction then pass the resulting signatures to a third-party that executes the transaction on behalf of the user in exchange for a fee. This third-party is referred to as a relayer.

The signing of messages to generate signatures in this context is commonly referred to as “signing typed structured data” following the EIP-712 standard.

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What is a relayer?

A relayer is composed of two parts: an EOA and a smart contract. The relayer EOA holds gas tokens which it uses to send transactions to the relayer smart contract. This transaction contains the EIP-712 signature that the user generated to authorize the intended transaction. The relayer smart contract then verifies the signature and executes the user’s intended transaction on-chain.

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How does Peaze use meta-transactions?

Peaze utilizes meta-transactions to offer gasless experiences to users.

OverviewGas Abstraction