web3 wallet transactions abstract

Why transaction bundles are amazing

IOG's Lace wallet platform comes with useful features. Here's more about the benefits of bundled transactions

Ivan Irakoze
. 4 min read
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What's on this page

Input Output Global’s (IOG) Lace light wallet platform is out, the community's input has played a huge role in making this happen. Lace comes with a bunch of useful features for ada and Cardano native token holders. Top of the list – and one we're particularly proud of – is the transaction bundles feature through which holders can send different assets to multiple addresses at once, with just one fee.

Read on to learn more about Lace's goals and how transaction bundles work.

Lace: your Web3 wallet

Lace aims to become the world’s go-to Web3 platform for decentralized applications (DApps), digital assets, decentralized finance (DeFi), and non-fungible tokens (NFTs).

Offering advanced features, a simple and easy-to-navigate interface, and an appealing design, Lace lets users find and access all the Web3 features they need, from one convenient location.

Lace introduces transaction bundles

Understanding transaction bundles

Transaction bundles let users send multiple assets to multiple addresses, incurring just one transaction fee. Here’s how:

Let’s use a simple example with Alice, Bob, Charlie, and Daniel. Say Alice needs to:

  • Send ada to Bob as a payment for a Cardano native asset
  • Gift Charlie with an NFT for the holidays
  • And send Daniel a Cardano native asset that’s not ada.

Normally, this would require three different transactions, each with its own fee.

With Lace, you can make all three transactions using bundles. To create a bundle, simply choose the digital asset you wish to send along with the amount, and add the recipient's wallet address. Using Lace, Alice would complete all three transactions by inputting the three different transactions in one bundle acting as one transaction, and Bob, Charlie, and Daniel’s wallet addresses.

The same mechanism applies to organizations. Say an organization needs to pay its employees but would rather do it all in one go and pay just one transaction fee. They can send employees their salaries in one go.

Even better, say the organization needs to pay its employees Annie, Bill, and Craig, without congesting the network, but they all wish to be paid in different digital assets. The organization could simply use Lace’s transaction bundles feature to send ada to Annie, a fiat-backed stablecoin to Bill, and an algorithmic stablecoin like Djed to Craig.

Stay updated on Lace

Lace is for everyone everywhere – regardless of their blockchain knowledge or background – to discover and enjoy a new world of digital experiences. More than just a wallet for the Cardano ecosystem. Lace brings together digital assets, network participation, and access to NFTs, DApps, and DeFi services in one secure, quick, and easy-to-use platform.

Visit Lace.io today to register for updates, add the Lace extension to your browser, and check out the transaction bundles feature.

Ivan Irakoze