In a recent announcement, the Starknet team presented a comprehensive strategy to eliminate gas fees, causing the STRK token to surge in response. As per the announcement, the average cost of a transaction on Starknet is just $0.004.
Furthermore, the team has outlined multiple optimizations to continue decreasing this cost over time. The team states that in the Starknet ecosystem, fees can be paid using tokens other than the native token, STRK, with ether being another available option.
Starknet to integrate AVNU’s Paymaster
Starknet also announced plans for a crucial integration with AVNU, a decentralized exchange protocol designed to offer the best execution in DeFi for Layer 2. Its primary goal is to provide zero slippage, better prices, MEV protection, and gasless trading, ensuring the most efficient and seamless DeFi operations.
AVNU recently launched its Paymaster infrastructure, which allows users of its dApp to pay gas fees in USDC, USDT, EKUBO, ZEND, LORDS, SWAY, and NSTR. More tokens will be added over time. The integration will simplify gas fee payments for Starknet users.
The team intends to build a protocol-level Paymaster on Starknet, but the timeline has yet to be decided.
Eliminating problems with gas fees for dApps
The high cost of transactions can deter new users and businesses from adopting blockchain technology. Gas fees can fluctuate wildly due to network congestion and varying transaction demand. This unpredictability makes it difficult for users to estimate costs accurately.
High gas fees increase operational costs for dApps and smart contracts, potentially making certain applications financially unviable. Developers might hesitate to deploy new applications on the network due to high operational costs, stifling innovation.
Combining Paymaster with Starknet’s symbolic gas fees will ultimately make dApp use free. Decentralized application projects will directly subsidize gas fees for users.
STRK token price action
According to CMC, the STRK token is currently trading for $0.633. It registered a gain of 7% on the news. Oscillators and moving averages indicate a buy, meaning the outlook is bullish. The DM is 0.838 at the primary pivot. A DM value close to 1 suggests that the price is moving significantly around the primary pivot.
A value of 0.838 indicates considerable movement, but it may not be extreme. STRK is holding above the first support level, 0.614. The next resistance level to watch is 1.199.
