In What Token Should We Consolidate the Gas Tank Balance?

---

Author: Ambire Wallet Date: November 26, 2024

One of Ambire’s standout features, the Gas Tank, was designed to improve cross-chain UX by allowing users to pay for gas with almost any token on any supported EVM network. As the first smart wallet on the market to offer this account abstraction feature, Ambire pioneered the concept, which was later adopted by others in the industry, although not as flexible and complete as the original.

With Gas Tank, users simply top up once and don’t need to hold the native token for the supported networks. This gives them flexibility and a layer of privacy as they avoid transferring native tokens from centralized exchanges.

Currently, the Gas Tank accepts multiple tokens, but this flexibility can result in fragmented balances and “dust” left in various tokens. With this proposal, we’re asking the community to decide on a single token for Gas Tank consolidation, unifying all top-up balances into one asset for better usability and a clearer user experience.

---

Proposal overview

The question for this governance vote is: In what token should we consolidate the Gas Tank balance?

The goal is to streamline the Gas Tank experience by consolidating all top-up tokens and gas fee cash back into one asset, enhancing clarity and usability for all users.

Consolidation will convert any token deposited into the Gas Tank into the community-selected default token. It will also affect the currently available gas fee cashback Ambire Wallet users receive.

This single-token approach will help users avoid dust issues and enable them to monitor their gas balance more easily. The vote will also determine whether ETH, USDC, or USDT will be the designated token for this consolidated balance, with each option presenting distinct advantages and considerations.

---

Proposal motivation

The Ambire Gas Tank was introduced to simplify the cross-chain experience. It allows users to prepay gas fees with various tokens rather than needing native tokens for each network. While this flexibility is powerful, it leads to fragmented balances and small, unusable “dust” amounts left in different tokens, worsening the user experience.

By consolidating the Gas Tank balance into a single token, users will benefit from a unified, streamlined balance that’s easy to monitor. This consolidation will eliminate dust issues, ensuring users have a clearer view of their gas balance. Once the vote outcome is implemented, any existing Gas Tank balances will be converted to the selected token, making the Gas Tank more intuitive and easier to manage.

The decision made here will determine whether ETH, USDC, or USDT becomes the default token for the Gas Tank. Each has its benefits and trade-offs in terms of stability, usability, and alignment with Ambire’s long-term vision.

Here's a graphical representation of the Gas Tank's current state:

Here’s how Gas Tank might look in the future with a consolidated balance:

---

Token options & considerations

This section presents each token choice, along with its benefits and potential trade-offs, to help users understand the impact of each option.

---

Future considerations and role of $WALLET

The $WALLET token has been a part of the Gas Tank tokens since its inception, which enforces its use case as a fee token. With this proposal, it will no longer be part of the Gas Tank tokens, but it will remain a fee token outside the Gas Tank, i.e., when paying directly from a Smart Account. $WALLET token will remain available as a Gas Tank top-up token.

The economic role of $WALLET will not be diminished with this proposal, as there’s the opportunity in the future to use relayer/bundler profit margins to acquire $WALLET and send it to the DAO. This can be enabled following a subsequent governance proposal.

---

Voting eligibility

Anyone holding xWALLET tokens before the snapshot on November 26, 2024, at 15:00 UTC will be eligible to vote. Please note that users who stake tokens after the snapshot cannot participate.

---

Useful Links

Ambire Governance Votes Website GitHub Twitter Discord Telegram Forum