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OmniPay

Any Chain, Anywhere

OmniPay

Created At

ETHIndia 2023

Project Description

Problem:

Interacting with diverse blockchain networks poses challenges for users due to limitations in existing gas fee payment solutions, such as:

Dependency on Centralized Exchanges: Users must rely on centralized exchanges for native tokens, creating a single point of failure and security concerns. Complexity for New Users: Acquiring specific native tokens for each blockchain is daunting for newcomers, hindering the onboarding process. Limited Token Options: Users are confined to using native tokens, restricting choices for gas fee payments. Long Bridging Time between Chains: Transferring tokens between blockchains is time-consuming, impacting user experience. Solution:

Cross-chain paymasters tackle these challenges by:

Enabling interoperability: Users can use tokens from different blockchains for gas fees, fostering seamless interaction across ecosystems. Reducing costs: Eliminates the need for multiple native tokens, streamlining processes and potentially lowering costs. Providing flexibility: Users can choose tokens from any compatible blockchain for gas fees, enhancing control and choice. Saving time: Eliminates the need for specific native tokens, allowing quick and efficient transactions across multiple chains. Use cases:

Cross-chain paymasters find applications in:

DApps: Improved user experience and accessibility, enabling interaction without native tokens. Cross-chain swaps: Effortlessly exchange tokens between blockchains without manual acquisition of native tokens. NFT marketplaces: Buy and sell NFTs across blockchains using any compatible tokens. Gaming: Play games on different blockchains without acquiring specific native tokens.

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How it's Made

Throughout the project development, we encountered significant challenges related to the choice of software development kit (SDK) and its limitations:

SDK Selection Dilemma:

Challenge: Identifying an SDK covering all blockchain chains proved challenging. Resolution: We prioritized the SDK supporting the most chains, aligning with our goal of broad coverage. Paymaster Support Discrepancies:

Challenge: The chosen SDK lacked uniform paymaster support across all chains. Resolution: Despite limitations, we chose the SDK with the broadest paymaster support to maximize user reach. Whitelisting Process Complexity:

Challenge: The selected SDK required a whitelisting process for transaction sponsorship, contrasting with simpler API key and credit approaches. Resolution: We streamlined whitelisting, addressing complexities to enhance user transaction experiences. Comparing Limitations:

Challenge: Both the chosen SDK and alternatives presented unique limitations. Resolution: Prioritizing our goal to support the maximum chains, we carefully evaluated each solution and made an informed decision based on overall compatibility.

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