Important features of the sponsorship pallet include:
- Accessibility: Any individual should be able to create a virtual fund (aka “pot”) to cover specific transactions for a set of registered users, and no special permissions are required for this. Note that this pot is just a representation of usage limits and it doesn’t get locked or reserved. Thus, it remains liquid at all times. However, the transaction will fail if there are no actual funds in the sponsor’s wallet
- Batch registration: Sponsors can register users individually or in batches, offering flexibility and ease of use.
- Robust user management: User accounts need not exist in the system or they don’t need funds to get started, minimizing barriers to entry. Sponsors can remove inactive users, ensuring that resources are allocated efficiently.
- Fund control: Sponsors maintain control over the funds they provide, ensuring that they are used as intended. Reserve limits for pots or users can be used for transactions that require reservations or deposits.
- Liquidity-friendly: Sponsors aren't required to hold the entire sponsorship amount in their wallets, promoting liquidity.
- Decentralization: Users' actions through the sponsorship pallet remain attributed to themselves, ensuring a decentralized user experience.
- Transaction control: Sponsors can specify the types of transactions they support, allowing for a tailored user experience. For example, NFTMinting, or AnySafe (which means safe transactions that are compliant with the sponsorship type, unlike the ones not controlled by the sponsorship).
- Proxy mechanism: An internal proxy mechanism protects sponsors' wallets and ensures that the borrowed funds return to the sponsor.
- Significantly lower barriers to entry for enterprise and Web3 customers who want to use the Nodle Network
- Doesn’t require detailed understanding of crypto concepts for the end user
- Helps anyone to sponsor anyone as they see fit without any special permissions
- Maintains high security by rejecting invalid transactions and preventing fund leaks