Bermuda dApp version 1.2 release

Following the release of version 1.1, we have continued working on quality of life improvements within the protocol. This round of development was largely focused on GAS optimization, how numbers are displayed in the dApp, and also add some useful stats on our website.

After receiving feedback from users, we felt it necessary to revisit GAS calculations and provide flexibility over this process. To provide a context for how Bermuda handles GAS, let’s briefly discuss the existing workflow:

• A user deposits funds into the contract and pays a minimal GAS fee for the transaction. This GAS fee is paid in Ethereum out of the user’s personal wallet.
• While sending transactions within the dApp, we charge GAS in the token that is being sent to increase convenience to the user. We then internally convert that token to Ethereum and pay the GAS on the user’s behalf.
• We provide a GAS quote that prioritizes transaction speed so that the payment is sent to the recipient as quickly as possible.

While this workflow provides a high level of convenience to the user and removes the necessity for the user to have Ethereum stored within the contract, it does come at an additional cost (around 50% additional GAS).

To help address this we have introduced the following:

• Optimized GAS margins to ensure they can run as tight as possible without introducing high failure rates.
• Introduced a GAS option to the sender screen that allows the user to prioritize a faster, more reliable transaction, or a lower cost.

Other improvements in this release:

• We have also introduced balance sanitization to alphabetical representation to more effectively display tokens with super high supply. Eg: Instead of showing a balance of “50,000,000”, it now simply says “50M”.
• The Bermuda website (bmda.io) now shows all of the tokens we have listed in the dApp and some stats on the BMDA token (#holders, $market cap, and #tokens burned).

Upcoming:

In our next release (coming late next week) we will also add the ability for users to optionally use their Ethereum balance within the contract to pay for GAS on transfers. Using this option will remove the need for the contract to swap the token to pay the GAS and make the price paid comparable to that of depositing into the contract.