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HomeBTCDefi wallet Argent, sets up layer 2 account to eliminate gas expenses

Defi wallet Argent, sets up layer 2 account to eliminate gas expenses

Argent, a London-based firm, has created a new cryptocurrency wallet that is a layer 2 solution aimed at lowering the prices and ecological effects of connecting with DeFi devices.

As its Layer 2 scaling implementation, the organisation has chosen zkSync. If you’re not acquainted with Argent, it’s a few-year-old Ethereum smart wallet for both Android and iOS. It’s a non-custodial wallet, which means you have complete control over your cash and everything you do is documented on the blockchain.

Argent stated that over 500,000 individuals have signed up for waiting to utilise the layer 2 account. In October, it began offering clients instant access to the layer 2 account. Long-term clients will be able to utilise the initial Argent wallet based on Ethereum, while layer 2 accounts will be the default for newbies.

According to Itamar Lesuisse, CEO and co-founder of Argent, accessing cryptocurrency has become “expensive, sluggish, and less secure.” Argent’s non-custodial layer 2 wallet attempts to address this by lowering gas expenses to as low as USD 1, while also providing fast transactions and a 95 percent decrease in carbon emissions every trade.

Customers may use the platform to buy, store, and send cryptocurrency, as well as collect interest on tokens by connecting to DeFi applications like Aave, Lido, and Yearn. Argent uses the services of cryptocurrency payments company Ramp to assist consumers in purchasing cryptocurrency using fiat money.

 

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