The time has finally come to say goodbye to transaction fees as we enter a new dawn of ZED RUN Racing.
Today, we are proud to introduce the ZED RUN wallet which enables you to race on the blockchain, with zero transaction fees!
In this latest product update, gas and transaction fees will be permanently removed when entering your racehorse(s) into any race event!
Hello, ZED RUN Wallet
The sky rocketing price of gas (i.e. transaction fees) has led to frustrations and at times, an intolerable user experience. As a result, we have been steadfast in our pursuit to rectify this technically challenging hurdle by introducing the ZED RUN wallet.
The ZED RUN wallet is your newest companion that allows you to enter any race at lightning fast speeds without the burden of gas or transactions fees.
The ZED RUN wallet can only be used on racing events. What this means is that for the time being, buying and breeding a ZED RUN racehorse will still require you to use your MetaMask or email wallet. Our intention is to roll out a gas-less experience across the entire ZED RUN ecosystem in due course.
The ZED RUN wallet allows for two key benefits:
- 10x improvement in transaction speeds and load times, and;
- Zero gas or transaction fees when racing.
The ZED RUN wallet is powered by the Matic Network, which is a decentralized platform that provides faster and gas-less transactions with the security and safety of the blockchain. The Matic Network is one of the world’s leading and most trusted ethereum Layer 2 solution that substantially improves the user experience on ZED RUN.
To learn more, you can read the highlights of our recent AMA with the Matic Network!
Before We Start
If you are new to ZED RUN, we recommend you familiarise yourself with some of the key terminology that will be used in this blog.
MetaMask is a digital wallet that can be used to create your ZED RUN stable. The MetaMask wallet is a plugin extension that lives within your web browser which can interact with the blockchain.
An email wallet refers to the digital wallet that ZED RUN securely generates for you. If you do not have MetaMask installed in your web browser, you can create a ZED RUN stable with just your email address.
The ZED Balance is currently used for entering into free or paid race events only. In order to enter into a paid race event(s), you must transfer funds from your ETH Balance into your ZED Balance.
Your ETH balance is synced directly to your Metamask wallet or your email wallet. For example, if you have 1 ETH in your Metamask or email wallet, your ETH Balance will also display 1 ETH.
Please note that to breed and buy racehorses, you will need to use your ETH Balance. However, you can also still use your credit card to purchase racehorses.
How Does It Work?
The ZED RUN wallet acts as a gateway between your ETH Balance and your ZED Balance. Once there are funds in your ZED Balance, you are free to go racing!
The value of ethereum in your MetaMask or email wallet is exactly the same value shown in your ETH Balance. The value of ethereum still remains the same when it is transferred to your ZED Balance.
In addition, you are able to deposit and withdraw ethereum from your ZED Balance at any time without any transaction fees.
Whilst logged in to ZED RUN, simply click on the new wallet icon located in the top right hand corner of your screen.
Clicking on the wallet icon will initiate the ZED RUN wallet to slide out.
If you do not have any funds (i.e. ethereum) in your ETH Balance, we have made it super easy to get your hands on some! You can transfer ethereum from any other digital wallet using a QR code or copying the wallet address that is displayed. The show your wallet address, press the ‘Show/Hide Details‘ button.
Alternatively, you can top up your ETH Balance by using a credit card without having the need to navigate to a different page.
Once you have transferred or purchased ethereum, it will automatically appear in your ETH Balance.
Depositing funds from your ETH Balance into your ZED Balance requires three (3) simple steps:
- Press the deposit button
- Type in the amount you wish to deposit
- Press deposit to ZED
Depositing funds typically takes 2 to 5 minutes before they transfer into your ZED Balance.
When you see the amount appear in your ZED Balance, you will be ready to hit the racetrack!
Withdrawing funds from your ZED Balance is almost identical to the first three (3) steps outlined under Depositing Funds. There is an additional step to successfully withdrawing your funds back into your ETH Balance, which includes having to claim your funds as indicated below. To withdraw funds from your ZED Balance:
- Press the withdraw button
- Type in the amount you wish to withdraw
- Press withdraw from ZED
- Claim your withdraw amount
Withdrawing fund from your ZED Balance can take upto 30 minutes.
The only difference here is that, rather than pressing the Deposit button, you need to press Withdraw button, then enter the amount you wish to move out of your ZED Balance and back into your ETH Balance (i.e. MetaMask or email wallet). Once this is complete, press the claim button to retrieve your funds!
When you initiate a deposit or withdrawal from your ZED Balance, the transaction will be placed in a ‘pending’ state as shown in the highlighted image below.
Successful deposits or withdrawals will only occur once the ‘pending’ state icon disappears.
Once you have funds available in your ZED Balance, you are ready to race! Nominating and entering your racehorse into a race is the same as before but this time, without the gas and transaction fee!
If you are logged in with your MetaMask account, a pop-up will appear requesting you to sign the transaction to complete your buy-in with the racehorse you have selected.
If you are logged in with your Email account, your racehorse will automatically be entered into your selected race event after selecting the available gate you wish to run from.
In both instances, funds will be deducted from your ZED Balance.
All winnings from placing 1st, 2nd or 3rd in any racing event will be transferred directly into your ZED Balance. The reason for this is so you can continue playing ZED RUN without the constant need to transfer funds into your ZED Balance.
Frequently Asked Questions
Below you will find answers to some of the most common questions asked in regards to the ZED RUN wallet. If you have any other questions, feel free to contact us at [email protected].
Do I have to use the ZED RUN wallet to race?
Yes. The ZED RUN Wallet is designed to eliminate all transaction fees associated to racing. In addition, the ZED RUN wallet allows for almost instant transaction speeds leading to a smooth racing experience.
Does it cost anything to use the ZED RUN wallet?
No. The ZED RUN Wallet will appear automatically when we deploy the update.
What are the benefits of the ZED RUN Wallet?
The two main benefits are zero gas fees and increased transaction speeds.
What is ‘gas’ fees?
Gas refers to the fee required to successfully conduct a transaction on the ethereum blockchain. Typically when transacting on the blockchain, the user must pay a fee to process a certain action, which in the case of ZED RUN includes buying in or nominating a racehorse to race in a certain event. With this latest update, we have removed those transaction fees associated with racing.
Why is the ZED RUN Wallet only available for use for racing?
Racing on ZED RUN is by and large the most used feature. We wanted to address an issue caused by the congestion of the ethereum network in order to enable our community to race more freely without the burden of high and fluctuating gas and transaction fees.
When can I use the ZED RUN Wallet for breeding and buying a racehorse?
We are currently implementing a solution that sees the removal of gas and transaction fees across the entire ZED RUN ecosystem. However, for the time being the ZED RUN wallet is a necessity to enable racing.
How do I access the ZED RUN wallet?
As soon as we deploy this update, the ZED RUN wallet will appear in the top right hand corner that will be accessible from every page.
How long does it take to deposit funds to and from the ZED Balance?
Depositing funds into your ZED Balance takes approximately 2-5 minutes. Once the funds appear in your ZED Balance, you are ready to go racing!
How long does it take to withdraw funds to and from the ZED Balance?
Withdrawing funds can take upto 30 minutes before it is successfully transferred to your ETH Balance (i.e. MetaMask or email wallet).
What is ETH Balance?
ETH Balance is the amount of ethereum you have in your MetaMask or email wallet.
Join the Fun 🐎
Head over to ZED RUN to buy your very own digital racehorse and join one of our fast-growing social channels below.