Universal Gas Token

Gas abstraction

Gas abstraction is one of the three core services provided by Particle’s Modular L1. Its goal is to allow users to pay gas for cross-chain transactions with a Universal Gas Token, as opposed to the multichain ecosystem’s need for multiple gas units (SOL, ETH, MATIC, etc.)

It also enables gas payments using any token on a chain participating in a UserOperation, resulting in a convenient service for users across any dApp.

Economic model

Particle Network sits at a unique spot in the Web3 ecosystem.

Our Wallet Abstraction products facilitate interactions between dApp creators and their users, allowing developers to offer a more flexible UX. However, as these solutions evolve towards the Particle Network Modular L1, serving also the interests of L1 and L2 blockchains, it’s critical to transition to a “purely Web3” economic model surrounding new and upcoming services.

As such, the introduction of new components to the Particle Network ecosystem pivots to a model that is 100% free for developers, relying on an economic model powered by the Particle Network Token, native to Particle's modular L1.

Utility

Particle Network’s {redacted} token aims to capture and distribute the value generated by chain abstraction. Within this new model, the Particle Network Token serves several key functions, all of them leading to positive network and value accrual effects.

These key functions are:

• Universal Gas Token: Particle Network's token will act as a key component within Particle's Universal Account model, powered by its modular L1. Transactions executed by a Universal Account – often cross-chain operations– are executed by relying solely on this token, as opposed to requiring multiple independent native gas tokens.
• Security: The Particle Network Token serves to secure Particle's modular L1 through its dual staking mechanism, acting as one half of its consensus model. It is staked alongside restaked ETH to bolster network security.
• Governance: Particle Network Token holders will have the opportunity to vote on public governance proposals affecting the infrastructural operations of Particle Network.

Benefits to users

The Particle Network Token offers a number of benefits to users, including:

• Convenience: As mentioned, Particle’s Modular L1 will unify gas payments through a single token, making the experience of interacting with Web3 easier for end users.
• Aligning incentives: Perhaps more importantly, the Particle Network Token turns dApps, other blockchains, developers, and Particle itself into growth partners. This model side-steps the typical SaaS business model of Wallet Abstraction tools and greatly accelerates the growth of the Particle Network.