Zerion Announces L2 Subsidizing Transaction Fees

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Zerion projects fee subsidies will offset revenue from user acquisition to its wallet service.

Zerion, a web3 smart account provider, announced plans to launch a Layer 2 network that won’t charge transaction fees to users.

Announced on March 14, Zerion’s forthcoming Zero Chain will subsidize gas fees for users, taking advantage of the massive reduction in Layer 2 transaction costs following the activation of Ethereum’s Dencun fork and EIP-4844 upgrade, also known as proto-danksharding.

EIP-4844 replaced gas-intensive calldata with binary large objects (blobs). Calldata previously accounted for between 73% and 90% of Layer 2 transaction costs, with proto-danksharding driving L2 fee reductions of between 50% and 98%.

“It’s great to see gas this low with EIP-4844,” said Evgeny.eth, the CEO and co-founder at Zerion. “The next stop is ZERO.”