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| 1 Year | 5 Year | 5 Year Annualized | Since IPO | |
|---|---|---|---|---|
| BICO | -86.02% | N/A | N/A | -100% |
| S&P | +12.9% | +73.65% | +11.66% | +50% |
Biconomy is a multichain relayer protocol that aims to improve the user experience of decentralized applications (DApps) by reducing the complexity and cost associated with transactions on web3 products. Biconomy offers an infrastructure that allows protocols to onboard users without paying gas fees, users can pay gas in an ERC-20 token of their choice, avoid blockchain complexities like a change of network, and transactions are confirmed much faster. Biconomy uses meta transactions to achieve these goals, enabling users to submit transactions with zero gas and having a third party pay for the transaction fees. This approach can reduce gas costs by up to 40%.
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