Flexible Fee Model

The flexible fee model is a revolutionary approach in the blockchain space that significantly enhances user experience by providing versatility and convenience in managing transaction costs. Here’s how the features of this model benefit users and how aelf supports them:

Pay Transaction Fees with Any Token

aelf’s platform is designed to accept various tokens for transaction fees, which offers a great user experience due to:

Flexibility: Users can pay fees with the token of their choice, offering a personalized experience.

Accessibility: It lowers the entry barrier for new users who may not own the native token, enhancing inclusivity.

Free Transaction Allowance

On aelf, maintaining a balance of ELF over a certain amount (100 ELF currently) in an account grants a transaction fee allowance of 5 ELF. This system is automated and ensures that active users who contribute to the network’s liquidity are rewarded with reduced transaction costs, providing:

Incentivization: Encourages users to hold the native token, fostering a more robust and stable network.

Cost-Efficiency: Reduces the overall cost for active users, promoting more frequent transactions and network engagement.

Transaction Fee Delegation

aelf’s architecture includes a feature where transaction fees can be delegated. This means that a transaction initiator can perform actions without directly paying the fee themselves, as it can be paid by another party, benefiting the participants in the following ways:

Delegated Payments: Allows third parties to pay transaction fees, ideal for businesses that want to cover costs for their customers.

User-Friendly: Ensures a smoother user experience as users don’t need to worry about having the right token or sufficient balance for fees.

By integrating these features, aelf not only improves the user experience but also broadens the appeal and accessibility of its blockchain platform, catering to a diverse range of users and use cases. The flexible fee model is a testament to aelf’s commitment to innovation and user-centric design in the blockchain ecosystem.