Key Highlights
- •Users can now pay gas fees using USDT and USDC.
- •The integration supports batch transactions and third-party sponsorships.
- •Over 80 million users are expected to benefit from improved Ethereum usability.
Bitget Wallet has announced the integration of EIP-7702, a significant Ethereum Improvement Proposal. This new feature allows users to pay Ethereum gas fees using stablecoins such as USDT and USDC. The announcement signifies a major advancement in Ethereum's usability, also enabling batch transactions and third-party fee sponsorships.
Alvin Kan, Chief Operating Officer of Bitget Wallet, revealed the integration. Kan stressed the importance of user-friendly options, stating that EIP-7702 offers essential flexibility while preserving user control and confidence. Bitget Wallet, formerly known as BitKeep, is a prominent entity in the crypto wallet sector, serving a user base exceeding 80 million.
Advantages of the New Integration
The integration of EIP-7702 enables users to settle Ethereum gas fees using stablecoins, thereby diminishing the necessity of holding ETH solely for transaction purposes. According to Bitget Wallet's official blog, this integration extends its support to Ethereum and a variety of EVM-compatible chains, presenting substantial improvements in usability.
This functionality also includes batch transaction capabilities and permits externally owned accounts to operate temporarily as smart contracts. These enhancements are designed to elevate the user experience and lower the barriers to engaging with Ethereum and other EVM-compatible chains. For more comprehensive details, users are encouraged to consult the Bitget blog post regarding EIP-7702.
Stakeholder Involvement and Supporting Comments
Direct commentary from the Ethereum Foundation or prominent developers, such as Vitalik Buterin, was not noted. Nevertheless, Bitget Wallet has been actively involved in integrating account abstraction features, which are a crucial component of Ethereum's development strategy.
Alvin Kan, COO of Bitget Wallet, characterized EIP-7702 as a method to deliver flexibility without introducing complexity, ensuring that users can adopt new features with assurance. Kan stated, "EIP-7702 introduces meaningful flexibility, but it also demands clearer visibility and control."
Impact on Related Assets and Market Trends
This integration directly influences Ethereum, stablecoins like USDT and USDC, and the Bitget Token (BGB). These modifications have the potential to impact on-chain activity by enhancing the utility of stablecoins and reducing the reliance on holding ETH for gas fees. EVM-compatible chains such as BNB Chain, Polygon, and others are positioned to benefit due to the multi-chain support provided by Bitget Wallet's new integration.
These developments are part of Ethereum's broader efforts in account abstraction, which aim to bridge the gap between conventional and smart contract wallets. Previously, wallets like Ambire and Argent focused exclusively on smart contracts. Bitget Wallet's integration extends this functionality to EOAs without necessitating a wallet migration.
Looking Ahead: Monitoring User Adoption and Trends
No specific on-chain metrics indicating changes in transaction volume or user activity have been publicly released. Bitget Wallet frequently conducts campaigns to subsidize gas fees, which may potentially increase multi-chain usage in the future. This trend could be monitored through future activity dashboards.
The wallet's $300 million user protection fund remains an integral part of its existing security infrastructure. Officially, no funding announcements or institutional partnerships directly linked to the EIP-7702 rollout have been declared. For further updates, users can visit the Bitget Announcement page.