ERC-20 as gas tokens -- lessons learned

Transcript

[Music] use it okay thank you Jim Jim thank you everyone for coming my name is Anton paisov I'm head of Integrations at Aurora lobes our Labs is a company that built Aurora and Aurora is an evm compatibility solution built on top of near protocol today's I want to talk to you about an interesting topic and an interesting thought experiment that also learned to some of the outcomes and interesting results and that topic might sound a bit

cryptic it's erc20 as a base token Lessons Learned so Lessons Learned doesn't play that something went not as we originally had in mind but I think that what we had as a result is even better so to start it's important to understand what error is how Aurora is built so let's do some overview Aurora is a solution that allows execution ethereum contracts on the highly performant near blockchain so we at the same time we do make even in your evm compatible and we do help scale ethereum this way uh Aurora implemented as a smart

contract we were the first solution to do it like that so we've put and rust uh Bill written and rest evm into a smart contract and deployed that smart contract on here and it works well turns out nice on top of that we do have an error PC infrastructure a website compatible wrapper on your RPC so for the end user and developer you interact like you would interact with ethereum or any other fully VM compatible solution of course also all the tools that you would expect to have an ethereum are available and supported like metamax truffle hard hat remix infrastructure is also quite well

developed so you do have indexers oracles and whatnot we are two years in minute with 250 plus live UPS um we do launch our other pass today but this I want I will only briefly touch today but you can check out the announcement on our Blog Twitter Etc and error pass is uh yet another solution that we believe uh like we built with mass adoption in mind and with removing all the hurdles from the users so it does have free transactions um we also have as a part of this solution we have the Rainbow Bridge trustless

generic Bridge with ethereum that is had not been hacked and that is the very well known and regarded in the ecosystem and the last point that I wanted to touch on their review is base token is is so this is where we are getting closer to the understanding of what it's all about and you would you would ask like why it's not near right because everything happens on here every transaction on Aurora is a transactional year now again like you can check this later out and we can I will not get too much into details here uh and we can chat later about it if you want but at the core of this is

that you interact with a smart contract and then the result of the interaction uh is committed on near the transactions therefore there is a separation between your interactions and with the end result being recorded and the separation is on the RPC infrastructure level so uh all transactions on the road are kind of meta transactions because the um the party that pays for the end transaction is um is their PC sorry is there PC client and then their PC client at the same time um you the the one that is in charge of charging the end user or not charge them because uh

um yes we'll get to that in a bit as well but um for the first almost a bit less than a year when we launch Aurora all the transactions were free for users and users really appreciated it because it really really changes the ux perception and how you interact with the blockchain so with this split of uh um kind of token mechanics and gas mechanics uh obviously there are opportunities we can investigate and they are all in this particular situation are based on the on the way the how Aurora was built

so let's explore some of the potential opportunities and again like the original um idea is that okay if we charge ethereum on our as a gas fee why not charge the fees in some other tokens for instance charging the gas fees in error would be an obvious first idea we could also charge uh make gas fees uh per project imagine you have a project that has a token you provide nodes for your users to interact with and with on all those nodes the guest token is that project stuck in it also it presents new opportunities for project economies as

well as it as well as it simplifies the attraction for users now you can also have better kind of better deals on some notes where the token is different or the price is different because it's all variable and it's not directly related to what you do pay as a learner PC not in the end we still stake here x3vm compatible having these are the best token as a default one and you can like think even further like doing some some something with nfts for gas mechanics and whatnot

this idea was with variety does have its challenges at the same time because everything that we do is uh is meant to be fully VM compatible to uh to introduce the variable gas token we would need to go through the whole process of ethereum improvement proposals and whatnot and when you think about it um not necessarily it's uh the path that we want to follow is adding any value to ethereum uh you would also need to think about how to properly frame communicate it to the node providers and

yeah and to users as well and ultimately the biggest hurdle for the mass adoption is still there so the guest fees are still there and we know it from the previous experience that when the gas was Zero users were always happier not only because of the free transactions but also because the ux is instantly much better so iterating over the idea viral that the EAP it might not be the best time for such an EAP and we still believe that the gas fees can be either completely removed or beset

for per project needs but to that I will get in a in a second and again like one of the use cases I wanted to mention also like imagine you have a traditional retail all of the prices you have are set in the stable coins so it only it would be only logical either to absorb the fees in the prices and do the guess fees as zero or to have gas fees also paid in the same stable coins for instance this is the good ux not thinking about what other thing you have to have to hold to pay for the transaction also such such addition for us particularly wouldn't add much value as

well for the project now what we came to is actually our productivity that we launched earlier this year called Aurora Cloud Aurora cloud has consists of Silas Borealis business and Aurora pass and this is our solution to bring businesses closer to using blockchain without puzzles and at the core of it our Aurora Silas again remember how I said that Aurora is implemented as a smart contract to near being a smart contract we can deploy deploy however much instances of such

contract as we want and of course with that we do have some customizabilities so for instance for even with the traditional approach where you only have one base token you can deploy a new instance of ferror you actually can customize your own base token so it's kind of similar to app chains and whatnot but in our case it's kind of be called a ferror's original design it's Implement you implement it much much simpler and in the same way because everything's like usually happens on near mainnet in the end you your

instances of Aurora are highly highly interoperable with other instances if you want to if you choose not to you can also stay completely in private you can also go completely completely private and have your Aurora instance on calimero who provide private charts of near and then there are like variable businesses cases oh yes and two other customizations that we find to be very important for the business adoption are that you you can make your instances either permissions or permissioned and you have all the control over the white list and um all the who can deploy contacts on your

instance you can have all the control over who can transact on your instance and yeah here it's you can see like some of the ideas of you you can have like instance not necessarily even per business instances it's like it's up the world is zeroaster it's like fully configurable you can have the amount of scope you want starting from like just a super app or something like that and you're going all the way up to doing uh like something like a carbon negative instance of evm that consolidates all the carbon of Satan projects in one place etc etc etc

next thing wait something is wrong oh wait it became too excited yes so Aurora style has come out of the box with Rainbow Bridge support so um naturally because it still happens on near mainnet it comes with a rural path that allows you to have this more frictionless user experience it comes with Explorer we also provide the efficient scalable or PC infrastructure on top of it at the

B2B offering and all the apps that you have on our main net and or near are interoperable with your solution you can do cross-contract cross runtime calls and both blockchain operating system that I can talk more to you if you want to afterwards which is the way to serve front-ends on here is also supported out of the box the other parts I've mentioned this is our wallet that is ultimately oriented on the smoothest user experience where you don't think about seed phrases and whatnot it's biometric data kind of based and Borealis business is all about so

this is one of the barrier's business can also be used on Aurora mainnet and on other instances outside of our Cloud if you want to but it may basically if you want to it helps you it's a product to offset the gas fees from your end users completely um yes and there are a cloud contains from evm containers private if needed on calimero as I mentioned connected to the world with Rainbow Bridge cross-contract calls and near horizontal scalability we have user onboarding improved with error pass and guess who's removed with our business so you can learn more about Aurora Cloud

here I'm happy to chat with you have any more if you want to chat more about all that afterwards and thank you for your time [Applause] thank you [Music]