Idexo Moves to ZkSync, Unveils Major Spinouts Including Gas Price Stability DAO, NFT Identity App and AI-Powered NFT Collection

LONDON, 10 May 2023 /PRNewswire/ — idexo, the leader of NFT Innovation Infrastructure, is pleased to announce its strategic shift to zkSync, a leading Ethereum Build 2 scaling solution using Zero Knowledge technology, following a unanimous community vote. With this transition, idexo says goodbye to Fantom for its community systems and embarks on a new journey that includes several ground-breaking ventures and spinouts.

In response to the persistent challenge of transaction gas cost volatility on Ethereum network, idexo launches a new whitepaper for a protocol designed to provide stable gas pricing. The innovative GasHedge DAO contracts, which use idexo’s proprietary directional staking technology, invite interested parties to stake idexo’s native token into a dedicated pool that will govern the protocol.

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

Idexo’s NFTMe mobile app and direction pool debuts on zkSync, leveraging zkSync’s native account abstraction capabilities to enhance the app with new functionality. This enhancement will further enhance the user experience within the app enabling users to seamlessly create and sell NFT collections made from selfies.

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

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

Idexo is also introducing a ground-breaking AI-generated NFT Collection and Game spinout, planned for launch on zkSync.

The project is further pleased to announce the relaunch of the Early Adopter Soulbound Token program, now called Early Adopter v2 on zkSync. Existing idexo community NFT holders can mint the base ranking token through the idexo community token portal starting at 15 May. New members can participate in a free mint event on Twitter, scheduled for May 17 on 15:00 UTC. The Soulbound Token will contain four higher ranks, accessible through community points or direct purchase using idexo’s native token. Higher ranks unlock access to exclusive airdrops and whitelists from promotional 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 share of NFTs, created from idexo’s general or directional stake pools or DAOs, to propose and vote on the allocation of community tokens. Votes will be weighted based on the size of the stake on their NFTs. This groundbreaking smart contract, called SpendableVotingByStakeNFTHolder.sol, has been deployed to the zkSync testnet for final live testing before launching on the mainnet.

“We are grateful for the community’s unanimous support in transitioning to zkSync and are eager to unveil a number of 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 to drive mass adoption through improved user and founder experiences, and we look forward to introducing more innovations in that domain.”

To learn more about idexo’s strategic transition to zkSync and how to get involved, visit the community page at idexo.io.

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

SOURCE idexo