Gasless Transactions on Solana — Part 2

Everyday hundreds of thousands of transactions happen on Solana. For each of these transactions, the SOL token has to be spent by the user to pay for the fees. 1000s of SOLs are spent by the users everyday to fund the fee payment. Fees that:

  1. Could be paid off in stablecoins like USDC
  2. and SOL could be retained by the users for staking, yield-generation, price appreciation

By paying off 1000s of SOLs in fees, users are losing the opportunity and a chance at SOL price appreciation and they are being robbed off this chance to see their tokens grow. Kana has always been user-obsessed and we truly believe that it is important to give the power to choose back to the user. This is the reason why Kana has chosen to launch the Turbo feature for transactions in its platform in combination with Solana Octane.

What is Turbo?

In this mode, users would not need to pay their fees in SOL but can pay their fees in the token in which they are making the transaction. For example, if the user sends USDC in Turbo mode, then the user would be paying for the transaction in USDC and not in SOL ! Kana would be paying the fees in SOL to the network on behalf of the user and the user would be paying the fees in USDC to Kana. All these transactions happen via a contract on Solana and is pretty transparent for all to see and secure as well.

The use-cases for this sort of transaction is mind-boggling. Not only will these transactions help to save SOL for the user, they would then be able to invest this SOL wisely into a yield-generation vault and basically multiply their SOL holdings. For a user that does 3 transactions a day and around 1000 transactions a year, thats a saving of easily 0.5 SOL in fees which would be about $50-$100 during the year assuming that the value of the SOL token appreciates strongly during the year, which it is very likely to do. Considering that this could have been invested into a yield-generating vault, those additional earnings would only add to the savings of the user. And when you multiply that across 100s of thousands of users and millions of transactions in a year, thats a huge amount of savings that users are likely to enjoy through our Turbo mode feature.

Use Cases

So, apart from the normal send transaction, this gasless feature can be applied to any transaction that involves the payment of SOL tokens. It can be used for:

  1. swaps in any DEX
  2. minting NFTs
  3. issue NFT collections
  4. GameFi by games that have to keep sending NFTs and moving around those NFTs to different users as part of their games.
  5. users for buying/selling NFTs and also transferring their assets to other users.
  6. Crypto payment apps

As you can see, the possibilities are endless and we are here to help the developers achieve this and provide a great UX to their users, similar to those that they experience with fiat wallets and platforms. We cannot do this all alone and that is why we are ready to share our solution with developers of the various applications and contribute to the growth of the Solana ecosystem and also help to onboard the next billion users into blockchain ! Reach out to partner with us ! Onwards and Upwards !

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