pTokens has integrated with any.sender, a solution that guarantees your peg-in transactions will be processed faster, and with the lowest fees possible, regardless of network conditions.
Who is any.sender?
any.sender is a simple yet powerful (and much needed!) service, allowing projects like pTokens to outsource transaction infrastructure while still retaining their non-custodial commitments. This means users never have to deal with setting gas prices or dealing with stuck transactions — something which has been negatively affecting the UX of the Ethereum DeFi ecosystem.
any.sender is a project by anydot.dev, a research and development company that focuses on prioritising self-custody of funds while providing software as a service. The team is made up of some industry veterans with PhDs in cryptocurrency, security engineering, distributed networks and approximation algorithms.
How to stay one block ahead
This integration is especially important in a time when network congestion is still an ongoing challenge, experienced by all DApps and blockchain-powered tools. Looking at the ETH Gas Stations Top 25 Leaderboard, projects are spending hundreds of thousands, and even upwards of millions worth of ETH in gas fees alone.
While congestion is a positive consequence of a fast growing market with lots of demand, it also means that networks easily become encumbered by slow processing times, leading to higher transaction (gas) fees.
Your transaction can either take a long time to be confirmed “on-chain”, or you face paying higher gas fees to have it confirmed faster. In the past few months alone, the average gas price reached 30 Gwei, almost reaching 50 Gwei in May.
For projects and platforms, their user’s transactions can be stuck in the blockchain backlog for hours, creating an unpleasant and slow user experience. The alternative is to pay higher gas fees to get these transactions processed faster, but this has a negative impact on their business model.
And with every DApp facing the same problem, it makes it hard for the whole industry to scale.
This has been especially true for gaming DApps, which require many small and frequent transactions.
Unmatched pegging speeds
Guaranteeing smooth and efficient transaction times is essential when moving liquidity from one ecosystem to another. When bridging two decentralized ecosystems, the continuously changing conditions of these blockchain networks pose a relevant challenge for a solution like pTokens.
Thanks to how the pTokens bridges work, bringing assets into the Ethereum network in a pTokenised form already requires a minimal consumption of gas. By plugging into the any.sender service, all pTokens minting and issuing will be streamlined even further.
The secure and transparent infrastructure of any.sender makes the pTokens system more congestion-resistant so that the minting of pTokenised assets can be reliably confirmed on the destination blockchain.
Sending dynamically priced transactions onto Ethereum is hard; this has been proven by the huge (and often unnecessarily high) gas costs that crypto exchanges absorb to ensure their withdrawals are confirmed fast. Any.sender addresses this in the best possible way; similar to a proxy bidder, it submits bids to the fee market on your behalf, trying to get the best price at the time.
Delegating such a complex task to any.sender ensures the core pTokens system is kept as lean as possible — without compromising its security — and is therefore easier to audit and safer. Security and complexity do not typically get along.
Furthermore, ensuring a frictionless movement of assets is key to enable effective market-making and to ensure your cross-chain experience is smooth. By matching an optimised design with the resilient structure provided by Any.Sender, the pTokens experience becomes even more flexible and efficient.
You can use the custom pTokens DApp to start experiencing it for yourself. Try pegging in your BTC to create Ethereum or EOS-compatible pBTC.
🔋 Learn about the pNetwork, the decentralized system and DAO powering pTokens.
🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.
💌 Excited about pBTC? Sign up for our newsletter and be the first to know which blockchain pTokens will make their home in next.