ABCDE Capital: Why do we invest in GasZero?
We are optimistic that this product experience with zero barriers and zero differences will lead Web3 users towards true massive adoption.GasZero is a gas-free Layer 2 blockchain network that allows trusted users to transfer funds and use on-chain applications without incurring any gas fees. GasZero's vision is to bring a billion users to web3, enjoying zero gas fees and a frictionless interaction experience.
In the Web2 testing phase, GasZero significantly improved the conversion rate of onboarding users to Web3, achieving a 146-fold increase in conversion efficiency compared to traditional blockchains with gas fees. Furthermore, in a zero gas blockchain environment, the user lifecycle in dApps has been greatly extended, as gas fees have always been a significant cost of using blockchain.
ABCDE led the angel round investment in GasZero.
1. GasZero Increases Web2 to Web3 New Transaction User Conversion Rate by 146 Times
We have been working hard to bring Web2 users into Web3, but there are three major barriers in front of Web2 users:
Mnemonic phrases
Fiat on-ramps
Gas fees
These three obstacles present an enormous learning cost for Web2 users, and each one can deter a large number of users. When testing the conversion rate of traditional blockchains in Web2, the conversion rate was only 0.15%, while in the GasZero environment, this conversion rate can reach over 22% (as shown in the figure below).
So when can we allow our parents to use blockchain with zero learning costs? When can blockchain truly achieve massive adoption? Currently, there are MPC/AA products like Particle Network addressing the mnemonic phrase issue, and fiat on-ramps like Moonpay, but there is still no systematic solution for gas fees. GasZero is the first solution that delves deep into the blockchain's underlying layers.
GasZero integrates Particle Network's MPC/AA solution, fiat payment solutions like Moonpay, along with a zero gas fee blockchain solution. In testing on platforms like Google and Facebook, the same ad conversion rate increased from 0.15% to 22%, a 146-fold improvement.
GasZero has eliminated the barriers for Web2 users to enter Web3, making the product experience between Web2 and Web3 indistinguishable, allowing users who have never used blockchain, like our parents, to enter Web3 "seamlessly."
2. Gas0 Technical Features
In the GasZero network, the "backend subsidy" method is used to cover users' gas fees. "0 Gas" means that trusted end users are exempt from gas fees for transfers and contract interactions. The waived gas fees are recorded on the network and paid by dApp developers or GasZero itself through Infra Fees. If a user's transaction does not meet the criteria for gas fee exemption, they can still choose to pay the gas fees themselves to complete the transaction.
When users initiate on-chain interactions in GasZero, their MetaID, MetaShield, and Credibility Oracle will be comprehensively analyzed to determine their eligibility for gas fee exemption. This analysis includes the following factors:
- Whether they are whitelisted users of the contract.
- Whether they are flagged as malicious attackers or spammers.
- Whether they interact with assets from different EVM chains.
Eligible users can enjoy gas fee exemptions (customizable for specific time periods, frequencies, and contract interaction options).
Note: GasZero's 0 Gas solution is different from the delegated payment method of AA wallets. It operates at the node level, providing a higher level of flexibility and security. Compared to the pay-first-reimburse-later method, it also offers a better user experience.
To achieve 0 gas, GasZero's technical solution requires some gas savings on traditional chains. The GasZero team has optimized the architecture of zkEVM, which inherently has lower zk costs. Additionally, the team can further reduce costs by building their own DA. Node miners can cover part of the costs, thus achieving the goal of 0 gas.
Moreover, to prevent exploitation by opportunists, GasZero has already collaborated with some DID projects. Existing Web3 users can verify their authenticity through ZK Me or by integrating the Worldcoin SDK. For new Web2 users, the number of transactions they can initiate within a specific time frame can be limited to prevent network congestion and waste. A strengthened security version of the RPC node has also been designed to ensure the safety of the transaction process. The team has accumulated extensive anti-fraud experience from previous gaming experiences, which helps reduce incidents of exploitation and attacks.
Key elements in the product:
MetaID:
MetaShield:
Meta Shield is an important auditing mechanism for the 0 GAS service on the GasZero platform. When users initiate transactions in any dApp, a comprehensive assessment by Meta Shield is triggered, which includes the following:
- Level 1 dynamic strategy: Filters out users engaged in fraudulent activities or operating multiple accounts.
- Application whitelist: Checks if the user initiating the transaction is whitelisted by the dApp.
- Credibility oracle: The main logic of the credibility system evaluates users based on their historical behavior data both on-chain and off-chain, providing a comprehensive score indicating user quality.
- Level 2 dynamic strategy: Offers more flexible customization options, such as a daily cap on transaction fees covered by the platform.
- Contract whitelist: Checks if users interacting with the contract are on the whitelist.
Credibility Oracle:
The GasZero Credibility Oracle (credibility rating system) evaluates and rates GasZero users based on multiple dimensions. These include the completeness of account information, wallet address activity, platform contributions, and more. The oracle conducts a comprehensive analysis of the collected data, assigning scores based on different dimension weights, ultimately providing corresponding scores for all GasZero users. When a user's score reaches a set threshold, they are entitled to the privilege of zero natural gas transaction fees.
3. Restructuring the Business Model of Web3 Chains
The past business model of Web3 blockchains relied on renting to users and dApps, where users and dApps had to pay gas fees for every transaction, similar to toll fees. These gas fees became the income for the chain and miners. However, this rental model severely impacts the value experience for users and dApps. Who would want to pay a fee for every action? This is precisely one of the reasons hindering Web3 from achieving massive adoption.
GasZero restructures the blockchain business model by subsidizing users' gas fees to achieve a zero entry barrier, capturing a large user base before monetizing. This model has been repeatedly demonstrated in the history of the internet:
In 2005, Shanda launched the "free games, paid value-added services" model with "Legend," implementing a comprehensive free model for its games, creating a new profit model for the online gaming industry—CSP (come-stay-pay), becoming the strongest online game.
Qihoo 360 defeated antivirus software like Rising and Kingsoft through a free model, becoming the market leader by adopting a "free software, paid advertising" model.
We believe that through back-end charging and subsidizing users, the user growth pattern of blockchain will be genuinely transformed. Only with a sufficient number of users can there be enough social value, allowing blockchain innovation to truly take root.
4. GasZero Roadmap
GasZero deployed its testnet on August 24 and has completed 300,000 transactions with zero gas fees. It is estimated to have a polishing period of 3-6 months, with a Beta testnet launch in Q1 2024 and an Alpha mainnet launch in Q2 2024.
(1) Testnet Phase 1:
Testing Goal: Era7 game transactions using zk-rollup + 0 gas
Architecture: zkEVM + Opside
dApp: Era7: Game of Truth
Browser: https://era7.zkevm.opside.info/
Official Market Testing URL
https://marketplace-freegas.era7.io/
Game Testing URL
ERA Token Contract Address
0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988
GOT Contract Address
0x50E84dF0559F4515a88920366d7C623008222BEd
0 gas testing experience manual: https://docs.google.com/document/u/1/d/e/2PACX-1vTfFFA6t4ZuOsBWNEqZCN8hUsaJXOSsPqemx4BwOMNctmv2912WtEVaifBKeIbkA-abEBgb8U3UHP/pub
(2) Testnet Phase 2: (Launched on September 11)
Testing Goal: Era7 game using MetaID login (social login + MPC-AA wallet) + 0 gas + stress testing
Architecture: zkEVM + ETHGoreli
dApp: Era7: Game of Truth
Browser: https://scangoerlitest.gaszero.com/
Official Market Testing URL
https://goerli-era7-marketplace.gaszero.com
Game Testing URL
https://goerli-era7-game.gaszero.com
ERA Token Contract Address
0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988
GOT Contract Address
0x50E84dF0559F4515a88920366d7C623008222BEd
0 gas testing experience manual: https://docs.google.com/document/d/e/2PACX-1vTTq2Q3T3IZCWVqjA8c0WXePUOGhSaSVqvIgsIFkPmHHP71ocUB9AlfxMphJPgqxPsO72sooJZv6f/pub
Appendix:
Network Name: GasZero-Goerli-L2
RPC URL: https://goerlitest.gaszero.com
Chain ID: 12021
Currency Symbol: GAS0
5. Team Combining Traditional Games with Blockchain Technology
Adam Zhao, CEO, MBA
● https://www.linkedin.com/in/adamziyuan/
● EMBA from Cambridge University
● CEO & CoFounder of TCG card battle game ERA7
● COO & CoFounder of Proton Network, an efficient data interoperability public chain
● Previously worked at BT responsible for high-frequency trading networks for the financial industry, and after returning to China, founded the programmatic advertising platform Proton Cloud, focusing on traffic acquisition and monetization in the gaming industry.
● Web3 experience:
■ Entered the blockchain industry at the end of 2017 and founded the efficient data interoperability public chain Proton Network, which once entered the CMC top 100.
■ At the end of 2020, transformed the Web2 game "Fist of Truth" and launched the Web3 card game Era7: Game of Truth, ranking in the top three for DAU/transaction volume/NFT generation on BNBChain for six consecutive months.
XianRui Meng, CTO, PhD
● https://www.linkedin.com/in/xianruimeng/
● https://www.xianruimeng.org/
● 2016-2021
■ Worked as a scientist & tech leader at Amazon, Facebook, and Apple
● 2015
■ Microsoft Research
● During his time at Boston University, he was a member of the DBLab and BUSec in the Computer Science Department. His doctoral thesis focused on privacy-preserving queries in encrypted databases.
● Past research directions focused on HE, MPC, ZKP, etc.
● Published multiple papers on privacy and databases.
6. Conclusion
After 15 years of development, the blockchain industry has been unable to break through the bottleneck of 400 million active users, which is strikingly similar to the user scale under the early internet licensing service mechanism. Free software and applications have completed a qualitative change from 400 million to 5 billion users on the internet, giving rise to a new type of internet model. We also believe that the free model is a way for Web3 to break through the bottleneck of 400 million users, and the demand for zero gas blockchain has emerged.
GasZero has eliminated the barriers for Web2 users to enter Web3, with dApps that require no mnemonic phrases and no gas fees, making the product experience between Web2 and Web3 indistinguishable. We are optimistic that this zero-threshold, zero-difference product experience will lead Web3 users toward true massive adoption.
