Bengaluru, India–(Vehement Media. – February 15, 2022) – Biconomy, a next-generation multi-chain relayer protocol, partnered with WazirX, a leading crypto exchange in India, to help make Web 3.0 frictionless and mainstream.

Biconomy enables simple blockchain transactions to be experienced by leveraging its scalable relayer infrastructure. The protocol was created to help solve deepened issues within Web 3.0, including complicated UX and fragmented multi-chain infrastructure. Biconomy provides multi-chain meta transactions, decentralized relay networks, and cross-chain asset transfer, and the smart contract calls to solve these problems.

By design, Biconomy was created as a developer platform that makes it easier for blockchain developers to simplify transactions and the onboarding experience for their Web 3.0 project. Notably, the protocol uses plugs and play APIs that allow Web 3.0 interactions to be smooth and seamless between DApps and end-users, free from blockchain complexities.

Through Biconomy, developers can allow their users to onboard without incurring any additional fees through gasless transactions. Through Biconomy’s infrastructure, users can pay gas in their favorite ERC20 token or dApp token. Notably, the protocol takes care of gas optimization and transaction management to reduce gas costs by 40%. Biconomy provides different approaches to allow gasless transactions for smart contracts, including custom implementation, EIP 2771 standard implementation, and Smart contract wallet implementation. In addition, users can also enjoy lighting fast confirmed transactions.

According to the team, Biconomy aims at “making Web 3.0 products as intuitive and easy to use as legacy web2 products. Simplifying this transaction experience will be key for decentralized projects to achieve any adoption. Thus, by solving key pain points at the crypto transactional layer, we are on a mission to simplify Web 3.0 experiences that will drive mass adoption.”

Another notable feature is the $BICO, the native token for the protocol. BICO serves a significant role on the network by acting as the network fees, governance, incentivizing stakeholders, staking, and slashing. Note there is currently a total of 1 billion $BICO in supply.

The protocol has achieved a major milestone in the last 12 months, including increasing its team from 5 to 26 full-time global staff. Biconomy relayed over 12.9 million gasless transactions representing $1.5 billion in processed volume during this period. The protocol also recorded $83 million in cross-chain transfer volume and gained over 14,000 unique users. The protocol has also supported new chains, including BSC, Tezos, and Moonbeam.

In the coming days, Biconomy plans to launch its multi-chain relayer protocol test net and its mainnet. The protocol also intends to improve gales features, scale its Hyphen, open liquidity, strengthen BD and sales, and add new chain support.

Media Contact

Name- Priyanka Sharma & Devashri Kulwal
Company- WazirX
Email- priyanka@wazirx.com
Telegram- WazirX
Twitter- WazirX
LinkedIn- WazirX

PR Contact

Name- Samiran Mondal
Company- https://newscoverage.agency/
Email- samiranmondal@newscoverage.agency
Telegram- https://t.me/samiranmondal