Interacting with a dApp across different chains today is difficult and time-consuming, even for seasoned crypto veterans.
Performing even a relatively simple action, like supplying liquidity to a pool on another chain, involves several steps across multiple applications and chains. Users often have to bridge their funds, conduct swaps, and even acquire entirely new assets to cover gas fees.
This experience is not good enough for most users.
Chain Abstraction Powered By Connext
Chain Abstraction, similar to Account Abstraction, is a pattern to improve dApp user experience by minimizing the need for users to care about the chain they're on.
With Connext, your dApp can execute logic from any chain, removing the need for users to switch networks, sign transactions on different chains, or spend gas on another chain. For the first time, users can interact with your dApp from any supported chain, using any token, all without ever leaving your UI.
Midas Capital is excited to pioneer Connext's chain abstraction features. Midas has always pushed the envelope when it comes to delivering a stellar experience for our users. Connext has given us a way to make our dApp accessible from multiple chains which greatly reduces friction for our users. Connext shares our vision of a multi-chain future and we are happy to partner with them to make this a reality
Integrating Connext offers several advantages that make the user experience seamless. With xCall, we can effortlessly consolidate bets from every chain into unified pools.
Most importantly, the Connext team follows our same principles: trustless, uncensored, and decentralized apps with a clean UX. Our end-goal is to abstract the user from the fact that we work on blockchain. Connext is supporting us to make that happen.
Since the inception of Mean Finance, we designed our systems to be adaptable for any chain, acknowledging the future that lies ahead: layer-2s, layer-3s, app-chains and more.
We're working tirelessly to create a new user experience that makes the omni-chain reality a no-brainer; with the only crosschain protocol that's truly decentralized and permissionless, Connext.
Find answers to the most common questions about Chain Abstraction.
How Does Chain Abstraction Work Under The Hood?
To better understand the transaction flow for a Chain Abstracted dApp, let’s look at an example scenario where an Aave user would like to enter into a position on Polygon using their USDC balance on Optimism.
From the user’s perspective, they would simply connect their wallet and begin lending. Under the hood, the Aave app would initiate a crosschain transaction from the user’s wallet on Optimism directly into the Aave position on Polygon.
🖊️ Importantly, the user pays gas and funds for the above transaction entirely on Optimism
Here's a breakdown of the transaction flow:
For the above example case with Aave:
The user initiates the transaction to deposit into a pool on Aave-Polygon using their funds on Optimism.
The application calls xcall passing in the user’s USDC along with calldata related to the transaction on Polygon, and a target (which in this case is an adapter contract implementing an xReceive function).
Within the next 45-180 seconds (depending on the finality time of the source chain), Connext makes a transaction to the target, passing the user’s USDC and calldata into xReceive.
The xReceive function unpacks the calldata and uses it to call Aave’s supply function.
💡 In Connext, the gas fees for the Aave call on Polygon are paid by the user upfront on Optimism (in oETH). If the user’s transaction is underpriced (i.e. the gas price on Polygon increases during the transaction), the user can simply bump their gas similar to resubmitting underpriced transactions on Ethereum!