1Balance

Gelato's unified multi-chain payments system

Overview

When you use each of Gelato's services there are two costs that you need to pay:

• Gas costs of your executed transactions (or those of your end users if you are sponsoring them)

• Service fees - Gelato subscriptions or % premiums on the gas costs of each transaction

1Balance makes it easy for you to pay all of your costs across all the networks that you are using from one single easy-to-manage balance. Regardless of the network you choose for deposits, 1Balance provides the flexibility to cover costs across multiple networks

Cross-Chain USDC Deposits with Circle CCTP

1Balance now supports cross-chain native USDC deposits powered by Circle’s Cross-Chain Transfer Protocol (CCTP). This enables a seamless and secure transfer of USDC across different blockchain networks.

What is Circle CCTP?

Circle's Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility designed to facilitate the transfer of USDC between blockchains. By leveraging native burning and minting mechanisms, CCTP ensures that USDC transfers are executed with high security and interoperability. Read more here.

CCTP deposits using Safes or smart contract wallets is not currently supported. Users may want to consider adding EOA addresses to their team as these can deposit into the team’s 1Balance account.

Getting Started

To get started with 1Balance on mainnets you will need USDC (plus some native token to cover gas costs for depositing).

To see the list of supported chains for CCTP deposits, check out USDC Addresses

1. Access the 1Balance in the Gelato app

2. Connect your wallet if you have not already done so

3. Select USDC from the desired chain you would like to deposit from.

4. Click on deposit and then approve USDC into your 1Balance.

   
5. After confirming your deposit transaction in your wallet you will see a Pending deposit appear in your deposits history:

   

Once the required number of confirmations has been reached your deposit will be credited and your 1Balance is ready for use.

Depositing from Network other than Polygon

When you deposit USDC into your 1Balance account from a network other than Polygon, your deposit will undergo a two-step process that ensures your funds are securely bridged and deposited using Circle’s Cross-Chain Transfer Protocol (CCTP).

For this example, we will be making use of USDC on Base:

• We have entered 0.5 USDC that we wish to deposit into our 1balance.

• The funds will first undergo a 'Bridging' process, with a clear display of the bridging fee that covers the gas costs

• Confirm the transaction from our wallet, then track the two-step process—Bridging followed by Depositing, culminating in the funds reflecting in our 1Balance, typically within 15 minutes.

When you make a deposit from a network other than Polygon, you'll notice a small fee applied during the bridging process. It's important to understand that these fees are strictly to cover the CCTP and gas costs. 1Balance does not charge any additional fees for this service.

Fees

More details on the fees applied by each service are available:

• Relay Fees and more detailed guide to using 1Balance with Relay
• Web3 Function Fees

Low Balance Alerts

To ensure that your transactions execute as you expect, it is critical that you have sufficient funds deposited in 1Balance. To help you monitor your balance and receive alerts when it drops below you preferred threshold, we provide a 1Balance Alerts service.