Zyfi’s Gas Abstraction Layer Secures $2 Million in Private Funding Round

Zyfi, a gas abstraction layer, has recently secured $2 million in funding to support the development of native account abstraction on zkSync and the broader decentralized finance (defi) ecosystem. Despite the advancement of blockchain and crypto adoption, complexities persist with self-custodial wallets such as MetaMask and on-chain transactions. A key obstacle to defi activities is the gas fee that users must pay to miners or validators for transaction confirmation.

Zyfi aims to address this issue by streamlining gas options across protocols and solutions using the capital raised from investors. The company’s approach involves leveraging native account abstraction to unlock additional functionality for standard wallet addresses, known as Externally Owned Accounts (EOAs). This enhanced flexibility enables users to customize gas payments, set spending limits, and implement social recovery processes.

Through this technology, Zyfi has already facilitated almost one million transactions and served over 110,000 users on zkSync, as reported by a Dune Analytics dashboard. Gauthier Vila, the founder of Zyfi, emphasized that the investments will empower developers to focus on improving their products for end-users.

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