Zerion's 'fee-free' Ethereum Layer 2 ZERO Network goes live

ZERO Network, an Ethereum Layer 2 that allows Zerion Wallet users to trade, mint, swap and bridge without paying gas fees, has launched.

ZERO Network uses native account abstraction with Smart Accounts and Paymasters to sponsor free transactions for Zerion Wallet users, Zerion announced in a press release.

The new layer 2 is part of the Elastic Chain ecosystem and was built with ZKsync technology. It allows for the abstraction of gas fees via a dynamic scoring system, called Onchain DNA, that evaluates whether or not an address is eligible for fee-free transactions.

"We believe people shouldn’t need to pay to transact and explore onchain," Zerion co-founder and CEO Evgeny Yurtaev said, adding: "It’s not only about the cost but the mental load. For most users, gas functions almost like a toll on a highway, getting in the way of where users want to go or what they want to do onchain."

"With ZERϴ Network, we’re vertically integrating the wallet and L2 so that users can forget about the complexities of gas fees or transaction mechanics," he said. "They can just send, swap, mint, or do anything else they want."

The project explained that its fee-free approach is part of a human-centric approach that allows for real users — as opposed to bots — to benefit from a better overall experience. This is the goal of Onchain DNA.

ZKsync co-founder Alex Gluchowski added that "ZERϴ’s successful mainnet launch within the Elastic Chain ecosystem sets a new era for onchain experiences. By combining advanced scalability with account abstraction, ZERϴ is making crypto transactions smoother and more accessible to the everyday user."

Zerion also announced an undisclosed amount of funding from angel investors including Cooper Turley, Spencer Noon, Yearn lead developer Banteg, Alex Gluchowski, Patricio Worthalter and NBA player Duncan Robinson. Angels from Lido, Daylight, Celestia, ETHGlobal, OpenSea and others also participated, according to the project.