We are thrilled to give a major shoutout to our client, Picnic!
For those new to Picnic, they simplify the DeFi user experience by offering cross-chain transactions with optimized routes for competitive pricing.
Picnic uses Magic wallets to authorize transactions on behalf of users, an approach known as account abstraction (ERC-4337). This enables users to pay gas fees with any supported token, getting an improved user experience that doesn’t sacrifice security.
Their platform has expanded to support a total of eight blockchains – Ethereum, Polygon, Binance Smart Chain, Avalanche, Arbitrum, Optimism, Base, and Gnosis. Based in Brazil, this integration enables users to transfer fiat (Brazilian Real) directly via instant payments system Pix to trade over 4,000 cryptocurrencies.
Key features include:
♦ Cross-Chain Transactions: Users can conduct transactions across different blockchains with optimized routes and competitive pricing. The platform uses bridging and swapping protocols like deBridge and LI.FI to ensure the most efficient and cost-effective transaction paths.
♦ Gas Fee Payment Flexibility: Picnic uses the ERC-4337 account abstraction standard, allowing users to pay gas fees with any supported token in their wallet, streamlining the user experience substantially.
♦ Security and Token Listing Criteria: The platform lists tokens that meet strict liquidity and market presence criteria, ensuring a safe trading environment. Tokens must be listed on CoinGecko and decentralized exchanges like Uniswap and ShapeShift.
♦ Future Integrations and Expansions: Picnic plans to integrate native Bitcoin transactions and expand its services to Europe. Their goal is to offer competitive pricing for transactions in Euros and other fiat currencies.