TLDR
- Users can pay gas fees using USDT and USDC.
- Integration supports batch transactions and third-party sponsorships.
- Over 80 million users benefit from improved Ethereum usability.
Bitget Wallet has announced the integration of EIP-7702, a major Ethereum Improvement Proposal. This feature allows users to pay Ethereum gas fees using stablecoins such as USDT and USDC. The announcement marks a significant development in Ethereum’s usability, allowing for batch transactions and third-party fee sponsorships as well.
The integration was revealed by Alvin Kan, Chief Operating Officer of Bitget Wallet. Kan emphasized the importance of user-friendly options, stating that EIP-7702 provides necessary flexibility while maintaining user control and confidence. Bitget Wallet, previously known as BitKeep, has been a major player in the crypto wallet space, serving over 80 million users.
Advantages of the New Integration
The integration of EIP-7702 allows users to pay Ethereum gas fees in stablecoins, reducing the need to hold ETH for transaction purposes. According to Bitget Wallet’s official blog, this integration supports Ethereum and several EVM-compatible chains, offering significant usability improvements.
This feature also comes with batch transaction capabilities and allows externally owned accounts to behave like smart contracts temporarily. These advancements aim to improve user experience and reduce barriers to using Ethereum and other EVM-compatible chains. For further details, users can refer to the Bitget blog post about EIP-7702.
Stakeholder Involvement and Supporting Comments
No direct comments from the Ethereum Foundation or prominent developers, such as Vitalik Buterin, were noted. However, Bitget Wallet itself has been active in integrating account abstraction features, a key part of Ethereum’s development roadmap.
Alvin Kan, COO of Bitget Wallet, described EIP-7702 as a way to provide flexibility without complexity, ensuring users adopt new features confidently. “EIP-7702 introduces meaningful flexibility, but it also demands clearer visibility and control,” Kan stated.
Impact on Related Assets and Market Trends
The integration directly affects Ethereum, stablecoins like USDT and USDC, and the Bitget Token (BGB). These changes may influence on-chain activity by increasing the utility of stablecoins and reducing the need for holding ETH for gas fees. EVM-compatible chains like BNB Chain, Polygon, and others stand to benefit due to the multi-chain support offered by Bitget Wallet’s new integration.
The changes are part of Ethereum’s broader account abstraction efforts, aimed at bridging the gap between regular and smart contract wallets. Previously, other wallets like Ambire and Argent focused only on smart contracts. Bitget Wallet’s integration expands this functionality to EOAs without requiring wallet migration.
Looking Ahead: Monitoring User Adoption and Trends
No specific on-chain metrics showing changes in transaction volume or user activity have been published. Bitget Wallet frequently runs campaigns to subsidize gas fees, possibly increasing multi-chain usage in the future. This could be monitored through future activity dashboards.
The wallet’s $300 million user protection fund remains a part of its existing security infrastructure, while officially no funding announcements or institutional partnerships tied directly to EIP-7702 rollout have been declared. For more updates, visit the Bitget Announcement page.
| Disclaimer: The content on defiliban.com is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
