Wallet users on Polygon will now have the option, introduced on 2nd March by Giddy, to pay for gas using either the USDC stablecoin or the GIDDY token. In addition, MATIC can still be used to pay for gas. Following this update, users of Polygon will now be able to buy, transfer, hold, and track their holdings for a wide variety of the most widely used digital tokens. Moreover, support for many cryptocurrencies will be introduced within Giddy’s app on the Polygon Network.
Giddy is the first digital wallet to allow users the opportunity to complete transactions on Polygon without holding MATIC in their balance. This represents a big advancement for the Polygon ecosystem since it gives customers who frequently use Giddy’s wallet access to a broader range of payment methods and makes those options more accessible.
Eric Parker, co-founder and CEO of Giddy, said: “We’re so excited to share this milestone with everyone. By not having to hold native tokens to pay for gas, both new and experienced crypto users can enjoy a much more seamless experience with Web3. We’re proud to be the first crypto wallet to deploy this feature to Polygon, and we believe ‘Autogas’ will become an industry-standard in the not-so-distant future.”
Permissionless, Trustless, and Decentralized Tech
Importantly, Giddy began its operations in the early part of 2021. The company was founded to provide a varied range of customers with safe and frictionless access to DeFi, which would enable crypto traders to benefit from the next generation of blockchain and cryptocurrency technology. Giddy was founded by entrepreneurs Eric and Ethan Parker, and it has successfully raised more than $8 million in funding from investors.
Giddy became available on Google Play for Android devices and the App Store for iOS devices in January 2023, after the number of people on the waitlist had exceeded 100,000. The platform initially started offering services by assisting customers in gaining access to the financial benefits of DeFi. But, the team quickly realized that the tools that were readily available were restricted, and the knowledge barriers were far too high for many novice traders to surmount.
As a result, the team has been hard at work developing a mobile app that is both powerful and easy to use in order to address these difficulties. It is important to point out that Giddy is not a custodian of user funds, therefore the company’s business and technical structure prevents disasters similar to those that occurred with FTX. Giddy is a software provider that enables users to maintain their own self-custody cryptocurrency wallets.
This means that users retain ownership of their wallet’s private keys and, consequently, their funds. The Giddy team believes that by remaining faithful to the ideas upon which DeFi was created – permissionless, trustless, decentralized technology – they will be in a position to proactively benefit from the growing demand for safe and easy-to-use self-custody crypto wallets.
Giddy’s main objective is to broaden people’s access to decentralized finance systems. The Giddy mobile application provides users with a secure and user-friendly interface in which they may buy, send, receive, and earn rewards from their digital currencies. Giddy is the first self-custodial crypto wallet to offer a recoverable private key, simple fiat onramp and offramp, and single-tap staking, and it does all of this from within a single app.