You can reduce the transaction fees by up to 30% at DeFi Saver with the use of gas tokens.
As of now the only supported gas token is GST2. Support for CHI is coming in an upcoming update (tentative release date for that is March).
Currently GST2 will be burned automatically for these actions:
- Boosts and Repays in MakerDAO
- All actions in Compound (only applicable if using Compound via Smart Wallet)
- All actions in Aave (only applicable if using Aave via Smart Wallet)
(Support for gas tokens (both GST2 and CHI) for all actions throughout DeFi Saver will be added in the mentioned upcoming update.)
How can I use gas tokens?
You need to send GST2 to your Smart Wallet (dsproxy) from where it will be automatically used with any applicable transactions.
The simplest way to do this would be by adding a “Send” option when obtaining GST2 at Uniswap, for example.
How do I know it’s working?
The tricky thing with using gas tokens is that the estimate for the transaction fee (the one you see either in the app or later in your wallet, e.g. MetaMask) will remain the same, as the gas refund happens later in the transaction by burning gas tokens.
As long as you have GST2 on your Smart Wallet, it will be automatically used during the transaction. Note that about 0.25 GST2 is used per transaction and if you have a lower balance than that it won’t be applied.
You can later recognize it was used with a quick Etherscan check which will show a bunch of SELF DESTRUCT lines, like so:
This is something that was also mentioned in our How to save on transaction fees post.
If you later want to withdraw GST2 from your Smart Wallet, you can do so following this short guide.