In most Ethereum Virtual Machine (EVM)-compatible blockchains, transaction execution necessitates the payment of network fees, commonly known as "gas." These fees are levied in the blockchain's native asset and automatically subtracted from the transacting account.
Our Gas Station service streamlines this process by autonomously replenishing the required base asset into designated wallets once the feature is enabled.
It's important to note that all Krayon transactions, including Gas Stations and wallet transfers, are executed on-chain. When transferring assets between a Gas Station and a Wallet, gas fees are inescapable.
The Gas Station service automatically triggers a fueling transaction to ensure smooth operations when it detects a deposit or withdrawal in the monitored wallet. Krayon evaluates the vault's current balance and executes gas transfers based on predefined Gas Station settings.
By leveraging this service, you eliminate the administrative burden of manually monitoring base asset levels and transferring funds to cover transaction fees. It allows for a more efficient use of assets, as the user can aggregate them in his wallet for investment purposes.
- Go to settings -> Gas stations.
- Click the Add Station button.
- There are a couple of configurations:
- Network e.g; Ethereum, Bitcoin, Polygon.
- Gas Cap: It is the target gas balance you wish to load onto a wallet. For example, if a wallet has 0.01 ETH and your Gas Cap is 0.02, then an additional 0.01 ETH would be transferred to the wallet.
- Minimum Gas: If ETH or ERC20 tokens hit a wallet with ETH < minimum gas, the gas station sends ETH to fulfill until the Gas cap.
- Maximum Gas Fee: The maximum gas fee your organization will pay to send gas from the gas station to the destination wallet.
- You can always edit the configuration. Click on the three dots. It will open a menu. Click "edit". Go to settings.
- Go to a wallet -> settings.
- Enable the gas station under the wallet.
- Once approved, a gas station mark will appear on the wallet name.
You have two convenient methods to fund the Gas Station:
- Self-Funding: You can fund it directly by initiating a transaction from an internal or external wallet.
- Automated Funding by Krayon: Krayon offers automated funding solutions for a hands-off approach. For more details, please reach out to Krayon Support.
Maintaining Gas Station funds
Ensuring that your Gas Station is adequately funded is paramount for uninterrupted business operations. Transactions originating from wallets with insufficient gas reserves will not only fail but will continue to do so until adequate fuel is supplied.
To circumvent such disruptions, it is crucial to proactively maintain sufficient funding levels in your Gas Station.
Updated 13 days ago