Ondefy Labs, the team behind the Ondefy dApp, has built and launched Zyfi, providing a set of tools and infrastructure designed to enable gasless on-chain transactions. Zefi has obtained fresh capital of $2 million in a private funding round to accelerate the adoption of zkSync's account abstraction capabilities in the Ethereum ecosystem.
Zyfi builds upon Ondefy Labs' experience in onboarding over 20,000 users into DeFi through the Ondefy dApp, aiming to make zkSync accessible for all users. zkSync is a layer-2 rollup that uses zero-knowledge proofs to scale Ethereum without compromising on security or decentralization. As the Lausanne-based startup continues to support the Ondefy dApp, its primary attention has shifted towards Zyfi, its newest innovation.
The platform offers a full-stack solution, including a front-end, API, and SDK, that enables any dApp to propose gasless transactions, allowing users to pay with any ERC-20 token instead of Ether for gas fees (transaction fees paid to execute operations on the Ethereum blockchain). It serves as a portal and toolset for building on top of zkSync Era's account abstraction, abstracting away the need for users to pay gas fees in Ether, thus simplifying the user experience without distraction.
The proceeds of $2 million, raised in a private funding round, will drive native account abstraction on zkSync. Participants in the round include leading crypto investors such as Tenzor Capital, Everstake, v3ntures, Alpha Praetorian Capital, Majinx Capital, NxGen, Criterion VC, Nicolas Bacca from Ledger, Finn Suzuki from Safe and many others.
“This investment marks a pivotal advancement in our journey to transform the on-chain experience through native account abstraction”, commented the startup. Over the past four months, the startup saw significant growth, making it the leading gas abstraction layer on zkSync with 920k paymaster transactions processed in Dune and 115+ users and 57k worth of gas sponsorships. Additionally, the company secured multiple integrations with some of the best apps on zkSycn like PancakeSwap, Magic, Zerolend, Increment, zkmarkets, Gravita Protocol, HYPERCOMIC, Hue NFTs, AutoAi, KOI, Libera and others, alongside collaborations with over 10 NFT collections. and many more in the pipeline. Zyfi is today one of the pioneers in gas sponsorship, offering innovative paymaster services to DApps.
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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