Ambire introduces ‘Gas Tank’ feature to help users save on gas fees

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Written on Jul 22, 2022

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The Ambire Gas Tank offers a prepaid mechanism for gas fees.
Users can deposit stablecoins and other gas tokens into their ‘gas tanks’ and save on unnecessary swaps.
The feature targets driving usage across the Web3 ecosystem.

Ambire, a non-custodial multi-currency wallet focused on offering easy access to the buying, investing and management of digital assets, has announced the launch of a new network feature targeted at easing the problem of gas fees for crypto users.

Dubbed the ‘Ambire Gas Tank’, the new product allows the wallet’s users to tap into smart capabilities that enable them to save on transaction fees as well as enjoy cashbacks accrued via stablecoins or ERC-20 token based payments.

Why the gas tank?

The Ambire team says in a press release shared with Invezz that the motivating factor for this feature is to advance Web3 adoption. To do so, users need to enjoy the flexibility and ease of use when paying gas fees across the ecosystem. The Gas Tank, according to the team, achieves this by enabling a prepay-like mechanism, where users pay for network fees in advance.

The loading of the credit happens through just one deposit using stablecoins such as USDT, USDC and DAI. The Gas Tank’s relayer pays the ether or other gas tokens, thus saving users network fees that usually go into unnecessary swapping.

Users can also enable transactions batching from within their Ambire Wallet, with the feature that bounds multiple transactions into a single one helping to save users a lot in terms of gas fees.

More than $8,000 has already been paid into user gas tanks, since the Gas Tank went live on Friday.