Biconomy is a multi-chain relayer protocol with the primary objective of making Web3 dApps as intuitive and accessible as their Web2 legacy counterparts.
To improve user onboarding and experience, Biconomy utilizes meta-transactions that allow dApp developers to pay gas fees on users' behalf, thereby absorbing it as user acquisition cost. In this manner, users can get onboarded without having to deal with the complexities of interacting with blockchains. Furthermore, since the transactions are grouped together, they are confirmed much faster and at a lower cost.
Next, Biconomy also focuses on optimizing transaction management and gas fees, and can bring down gas costs by as much as 40%. Biconomy has since processed over 12 million transactions, with around 40,000 transactions processed daily. In addition, it has integrated with over 70 live mainnets so far.
BICO, the native token of Biconomy, is based on Ethereum's ERC-20 standard. With a total supply of 1 billion, BICO is used to pay transaction fees for using the network, participating in the protocol's governance, ensuring its security and 100% uptime, and incentivizing the liquidity providers, delegators and node operators.
