How much!? Paying gas fees, particularly on older, monolithic blockchains like Ethereum, can be a chastising experience. Profit margins clipped, multi-route trades expensive, and everything transaction suffering at least some form of taxation that’s paid to keep the network running.
Indeed, a huge subsection of the analytical community monitors the price of gas intensely seeking correlation and to provide insights on when best to launch a larger more sophisticated trading strategy. Analytics knows all about gas — it’s a key part of the variable of on-chain economies.
High fees have discouraged much utility-building on the blockchain, however, as network costs can, at low levels of adoption, be vastly more expensive than traditional methods of accountancy. Scaling blockchains to minimise gas fees is a mission that’s responsible for much of the market cap that makes up crypto today, with L2s like Polygon, faster L1s like SOL with alternate consensus, and multi-chain projects like Cosmos all trying to make trading using smart contracts cheaper.
High fees at times of network congestion in this crucial transition to a mainstream crypto economy can’t be avoided, though. They can, however, be navigated around in such a way to produce a truly on-chain social economy around analytics.
Gas-Free Actions with Glint
At Glint Analytics, all transactions are gas-free for the end user. Favouriting, liking, and sharing Glint dashboards are all real on-chain activities that determine the creators pay out from the Glint autonomous smart contract. However, they will cost nothing for Glint users to do.
These activities are crucial for evaluating rewards payouts for creators, and all users have no barrier to entry to showing the love to great analytics dashboards. An optional payment far gas can be paid should a user wish when they perform these actions, a payment which will actually be minting $GLNT from the contract (clearly stated to the user).
Dashboards on Glint are also on-chain NFTs, and there is a gas cost associated with creating one. This cost helps subsidise all the community interactions on Glint by being redirected to a gas tank. That gas tank will be continually topped up through Glint revenue streams, for example from the paid tiers that will be introduced by Glint after the initial launch era.
However, with the exception of minting a dashboard, which is the core way to secure revenue for your analytic activities from the Glint smart contract, there are zero gas fees for using any of the Glint platform.
Breaking Down Barriers
In this way, we hope to break down barriers to entry to analytic hobbyists and people interested in Glint and let those who want to come, use all the community analysis, like, favourite and share it with others, can do that all for free, whilst rewarding creators who are the pillars of the community for making great dashboards.
Gas fees, in the medium term, are only going to get higher — especially on L1s like Ethereum. Glint’s community can navigate this period gas-free and get on with what they do best — performing fantastic analysis.
So, run of of gas? No problem. At Glint, you can socialise and collaborate on-chain for free. We are building a new community of on-chain analysts that thrive together, and reducing all barriers to entry for that mission, including making gas-free trading standard for users.
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