Idexo Transitions to ZkSync, Unveiling Major Spinouts Including Gas Price Stability DAO, NFT Identity App and AI-Driven NFT Collection

LONDON, May 10, 2023 /PRNewswire/ -- idexo, the NFT Innovation Infrastructure leader, is excited to announce its strategic move to zkSync, a leading Ethereum Layer 2 scaling solution using Zero Knowledge technology, following an unanimous community vote. With this transition, idexo bids farewell to Fantom for its community systems and embarks on a new journey encompassing several groundbreaking ventures and spinouts.

In response to the enduring challenge of transaction gas cost volatility on Ethereum networks, idexo is launching a new whitepaper for a protocol designed to provide stable gas pricing. The innovative GasHedge DAO contracts, utilizing idexo's proprietary directional staking technology, invites interested parties to stake idexo's native token in a dedicated pool that will govern the protocol.

The gas stability protocol will be accessible through smart contracts and UI, initially deployed on the zkSync network, and is centered around the creation of "method credit tokens" that can be used at run-time to process transactions for specific methods such as minting NFTs or making DEX swaps. Anyone can create these ERC20 method credit tokens and there are DEX contracts to buy/sell options to these method credits at future prices. A Paymaster system accepts these ERC20 tokens as payment for actual transactions and puts through the actual gas payment at transaction time.

Idexo's NFTMe mobile app and directional pool are making their debut on zkSync, leveraging zkSync's native Account Abstraction features to enhance the app with new functionality. This improvement will further enhance user experience in the app that enables users to seamlessly create and sell NFT collections crafted from selfies.

The DEX for idexo's native token is now hosted on Mute, as part of the transition to zkSync.

Incorporating zkSync into its no-code SaaS product and low-code API, idexo now empowers users to effortlessly create NFT and Soulbound Token collections, and a wide range of other smart contract types, on the zkSync platform.

Idexo is also introducing a groundbreaking AI-generated NFT Collection and Game spinout, slated for launch on zkSync.

The project is further excited to announce the relaunch of its Early Adopter Soulbound Token program, now named Early Adopter v2 on zkSync. Existing idexo community NFT holders can mint the base rank token through idexo's community token gating portal beginning on May 15th. New members can participate in a free mint event on Twitter, scheduled for May 17th at 3pm UTC. The Soulbound Token will feature four higher ranks, accessible through community points accumulation or direct purchase using idexo's native token. Higher ranks unlock access to exclusive airdrops and whitelists from campaign partners, such as web3 games, or from special experiments conducted by idexo itself.

Furthermore, idexo is proud to introduce an innovative smart contract that enables holders of any stake NFT, created from idexo's general or directional staking pools or DAOs, to propose and vote on the allocation of community tokens. Votes will be weighted based on the size of the stakes on their NFTs. This cutting-edge smart contract, named SpendableVotingByStakeNFTHolder.sol, has been deployed to zkSync testnet for final live testing before launching on the mainnet.

"We are grateful for our community's unanimous support in making the move to zkSync and are eager to unveil numerous new innovations as part of the transition," says Greg Marlin, Founder of idexo. "zkSync's native support for Paymasters and Account Abstraction aligns with our vision of driving mass adoption through enhanced user and founder experiences, and we look forward to introducing more innovations in that domain."

To learn more about idexo's strategic move to zkSync and how to engage, visit the community site at idexo.io.

MEDIA CONTACT
Company: idexo
Name: Greg Marlin
Email: [email protected]
City: London
Country: United Kingdom
Website: https://idexo.com
Phone: +44 20 8089 1372

SOURCE idexo