Gas-Free Token

Introducing the GasFree Token API service, a solution designed specifically for emerging DAOs that have not yet deployed their ERC20 tokens on the mainnet. These organizations often face the challenge of wanting to use tokens to compensate contributors while operating as a DAO, but the associated gas fees and token management can be cumbersome.

GasFree Token API aims to address these issues by providing free, temporary tokens equipped with essential functions like Mint, Transfer, Burn, and BalanceOf. Balances are securely stored in the cloud, allowing DAOs to distribute temporary tokens to their contributors with ease.

One of the key features of GasFree Token is the seamless migration process. When the time comes for the DAO to deploy its product on the mainnet and issue ERC20 tokens, the Migrate API can be executed. This results in the issuance of ERC20 tokens, and the temporary token balances held by users are simultaneously minted to their respective wallets.

The GasFree Token API service eliminates the need for manual allocation of tokens from a spreadsheet or similar methods, saving valuable time and effort. Additionally, users can enjoy the benefits of the service without incurring gas fees. Although wallet address signatures are necessary to securely transmit information to the cloud, no other requirements are imposed, simplifying the process for DAOs and their contributors.

We developed a secure system for managing token transactions using several technologies. Using Docusaurus, we created a clean, organized user interface and comprehensive documentation to make it easy for users to understand and navigate the system. We also used MetaMask and ether.js to sign and verify wallet addresses, providing a seamless user experience.

On the back end, we used Firebase functions to process all token transaction logic through the API. This approach facilitated system scalability and maintenance since all transaction logic was handled in one place. A FireStore was also used to securely store the token information, ensuring that all data remained private and confidential.

Hardhat was used to deploy a contract to convert the tokens temporarily managed in FireStore into ERC20 tokens. This allowed us to customize the contract to our specific needs, ensuring security and efficiency. We also tested the contracts thoroughly before deploying them on the mainnet.

No matter how worthless the tokens were, they would eventually migrate to web3's ERC20 tokens, so we needed to ensure that they would be secure on web2 as well. Therefore, we implemented digital signatures to secure the system. When a user initiates a transaction, the transaction details are hashed and signed using a private key, which is then verified using a public key. This process ensures that the transaction has not been tampered with and is valid. We have also implemented an authorization system that allows only authorized users to initiate transactions, adding an additional layer of security to the system.

Overall, our team developed a robust and secure system for managing token transactions by leveraging multiple technologies and customizing it to our specific needs. By using MetaMask and ether.js for the front end, Firebase functions and FireStore for the back end, and Hardhat for contract deployment, we were able to create a scalable, efficient, and secure system. The security of the system was further enhanced by the implementation of digital signatures and an authorization system.