Save up to 1000x on Gas Fees
Last updated
Last updated
Transactions on the Ethereum blockchain are expensive. If you have been a part of the ecosystem for the last few years, you have undoubtedly seen the exorbitant fees that Ethereum charges you, even for the simplest transactions.
When faced with the blockchain trilemma, layer 1 solutions (Ethereum in our case) prioritized Decentralization and Security over Scalability, making it expensive for retail users to use layer 1 for day-to-day transactions. This meant an inherent gatekeeping mechanism for the smaller investors. And as users, we look forward to Ethereum 2.0 (Sharding) for increased scalability as the most recent shift to Proof of Stake (merge) failed to reduce the gas fees.
Affine aims to solve it through the Affine Baskets which allow users to gain exposure to both token prices and more complex yield-generating strategies. The smart contracts utilize wrapped tokens on the sidechain to provide users direct price exposure to a given asset (Ethereum and BTC, for example). For yield strategies, it socializes the fees of protocols (AAVE, Curve, etc.) to provide the users best returns at the lowest costs. Affine utilizes the Polygon chain, a layer2 blockchain, to make the whole process as cost-effective as possible, effectively lowering the gas fees for the end users.
And all this technical jargon can be summed up as one significant advantage for the users: That is near-zero transaction fees. With Affine, you can save up to 100% on gas fees. This opens opportunities for investors who want to invest smaller amounts into multiple assets.
