Introducing: Xeta’s Fee-Delegation
We want to introduce you to Xeta’s “fee-delegation”, which is the option to delegate fee payments to a dedicated fee pool. In practice this enables, swapping, staking, auctioning, participating in airdrops, voting, etc., without the user paying for the underlying fees.
Any participant of an asset (usually the creator) can set up a fee delegation pool and provide funds to it. This pool can then be used for transaction fee reimbursements for all users transacting with that specific asset. The intention behind fee delegation is to avoid passing off costs to end-users (which is not always desired).
All transactions submitted through the frontend interface have fee-delegation checked by default, which means every transaction attempts to find an existing fee-delegation pool with a positive balance to reimburse (your) transaction fees.
We’re certainly not the first to pioneer this feature. However, it will be essential for Xeta’s mission of onboarding 100 million users to the Metaverse. The core idea is that end-users, especially non-technical ones, often want to perform an action without worrying about fees (like a transfer, vote, swap, place a bid, participate in a lottery).