NFT platform, Idexo transitions to zkSync to escape high gas fees of Ethereum


Idexo, an NFT innovation infrastructure leader, has announced that it is adopting the Zero Knowledge technology, zkSync, after a community vote. The platform made the announcement on May 10 as part of its migration strategy from the Fantom blockchain.

With the move, it said that it is embarking on a new journey by adopting the leading scaling solution on Ethereum’s second layer. Idexo maintains that the new move encompasses new breakthroughs, benefits, and opportunities for collaboration with other blockchain entities.

More benefits attached to migration

Speaking of the development, Greg Marlin, the founder of Idexo, said,

“We are grateful for our community’s unanimous support in making the move to zkSync and are eager to unveil numerous new innovations as part of the transition.”

He added that zkSync’s native support for Paymaster and account abstraction is in line with the vision of Idexo to drive widespread adoption through a better user experience. He said that the platform will add more exciting innovations to its offerings in the coming months.

Support for stable transactional costs

Idexo said that the move is a response to the challenges of the high transaction costs it encounters on networks built on Ethereum. Consequently, Idexo is launching a new whitepaper that reflects its new realities and pushes for a protocol that supports stable transactional pricing.

Idexo announced that its new stable-priced gas protocol can be accessed via smart contracts and a UI deployed on the zkSync network. This protocol is customizable for specific purposes, such as NFT minting transactions and DEX swaps.

Its ERC20-type credit tokens can be created by users who are provided with DEX contract buy/sell options on the platform. The system works using Paymaster, which accepts the minted ERC20 tokens as payment for transactions.

Better features and functions for NFTMe

The release said that Idexo’s NFTMe mobile app and directional pool will be live on zkSync, leveraging its benefits to give users enhanced functions within the app. This will enable the users to create and sell NFTs they make from their selfies.

The statement said that in the meantime, Idexo’s native token is hosted on Mute as a part of the transition process to zkSync.

The DEX for idexo’s native token is now hosted on Mute as part of the transition to zkSync. The platform is also developing a groundbreaking AI-generated NFT Collection and Game spinout that has been slated for deployment on zkSync.

Holders of stake NFTs minted from any of Idexo’s pools are eligible for voting, proposal submission, and more on the allocation of community tokens.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.