OKX Wallet supports Account Abstraction, create Smart Accounts with one click

Gepubliceerd op 2 aug 2023Geüpdatet op 4 apr 20242 min. leestijd

Dear OKX users:

Two weeks ago, at the Ethereum Community Conference (EthCC) in Paris, Vitalik mentioned AA account abstraction technology again and said: "Account abstraction will make encrypted wallets as simple as email." For now, under the common technical goal "AA account abstraction" the Web3 industry is exploring smart contract accounts together and keeping moving.

OKX Wallet has been committed to lowering the threshold and providing more convenient wallet services. We are very pleased to announce that we have supported account abstraction on August 2, 2023, allowing one-click creation of smart contract accounts.

You can now upgrade to the latest version of the App (version 6.26.0), go to OKX Wallet - Wallet Management - Add Account , and add your smart account.

What is a smart account?
Smart account is a new generation of wallet account based on the Account Abstraction proposal (EIP-4337). For example, operations such as paying gas fees with stable coins can be completed through smart contracts.

The networks currently supported by smart accounts: Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, Avalanche, OKTC, and other networks will continue to be expanded in the future. You can manage the assets of smart accounts on these chains.

What are the benefits of smart accounts?

  • Support the use of protocol tokens (such as stable coins) to pay network fees
  • Simplify the transaction process and realize one-click Swap and one-click stake mining
  • There will be more DApps in the future, which will be developed and empowered specifically for smart accounts

    In addition, there will be Free Gas activities during the smart account launch period, the details are as follows:
  1. When you initiate a transfer, NFT transfer, or contract interaction from the OKX App through the smart contract account, as long as the current Gas Fee <= 5 USDT, the Gas can be fully subsidended.
  2. Please note that the Free Gas event currently does not support Dex-related transactions on the Ethereum chain
  3. Currently Free Gas supports: Ethereum, Arbitrum, Polygon, Optimism, BNB Chain, Avalanche, OKTC
  4. For transactions exceeding the deduction amount, the user needs to pay the network fee for this transaction.

    In the future, the OKX wallet will continue to contribute to Account Abstraction technology based on EIP-4337, and will launch social recovery and other special features one after another.

    OKX Wallet will continue to provide you with excellent products and services!

    OKX Team
    August 2, 2023