Instadapp Launches Avocado, a Multi-Network Smart Contract Wallet
On March 9, the multi-chain DeFi management protocol Instadapp launched the smart contract wallet Avocado, which supports multi-network transactions. Gas in all
On March 9, the multi-chain DeFi management protocol Instadapp launched the smart contract wallet Avocado, which supports multi-network transactions. Gas in all networks is supported in the form of USDC, without the need to manage multiple local gas tokens. At the same time, users can use the built-in account abstraction to create a deterministic smart contract that can only be controlled by themselves. Avocado charges an additional 20% of the gas fee, of which 10% is given to the DApp integrator.
Multi-chain DeFi management protocol Instaapp launched smart contract wallet Avocado
Analysis based on this information:
Instadapp, a multi-chain decentralized finance (DeFi) management protocol, has released a smart contract wallet called Avocado. This wallet has the ability to support multi-network transactions, which is a significant enhancement to the crypto space, as it tackles one of the greatest challenges in blockchain: interoperability.
Users of the Avocado wallet will no longer have to use multiple local gas tokens, as gas in all networks is supported in the form of USDC. This is a significant improvement as it eliminates some of the complexities that users of crypto apps have had to deal with. Furthermore, the built-in account abstraction feature allows users to create a deterministic smart contract that can only be controlled by the account owner. This added layer of security guarantees that account holders have absolute control over their funds.
The Avocado wallet charges an additional 20% of the gas fee, of which 10% goes to the DApp integrator. While this can be seen as a considerable cost, the convenience and security that this wallet offers makes it worth it. Moreover, it is a small price to pay given the enormous potential and security benefits that are inherent in smart contract wallets.
Overall, this is a significant milestone in DeFi and a demonstration of how technology continues to revolutionize the financial sector. The launch of Avocado is expected to democratize access to DeFi applications by making transactions more secure, efficient, and convenient than has been possible up until now. This development also highlights the growing importance of smart contract wallets in the DeFi space.
In conclusion, the Avocado smart contract wallet is a significant addition to Instadapp’s suite of DeFi tools. Its support of multi-network transactions, use of USDC gas across all networks, built-in account abstraction, and enhanced security features make it a much-needed solution to the complexities that many users have faced in the crypto space.
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