Ouyi OKX officially launches AA smart contract wallet.

Source: Ouyi OKX

On August 2, 2023, OKX, a leading Web3 technology company, announced the official launch of the OKX Web3 wallet's AA smart contract wallet, which will support the use of stablecoins USDT/USDC for gas payments on multiple chains. In addition, in subsequent development iterations, the AA smart contract wallet will also support more new features such as social recovery, which can help users recover their accounts through trusted people in their social network even if they lose their private keys.

OKX Web3 Wallet is one of the first wallets to support multi-chain account abstraction. Through the AA smart contract wallet, users can interact with multiple contracts in a single transaction, greatly enhancing the multi-level needs of advanced users while also increasing the convenience for novice users, thus creating a more user-friendly and intuitive wallet experience.

Jason Lau, Chief Innovation Officer of OKX, said: "Our goal is to provide users with the most convenient, secure, and powerful Web3 platform, and the OKX AA smart contract wallet will play an important role in achieving this goal. Account abstraction technology will help drive the widespread adoption of Web3 and bring new use cases and user experiences. We will continue to develop based on this technology to provide users with more new functional services."

The account abstraction simplifies cryptocurrency asset transactions by hiding the technical details of interacting with the blockchain behind a more user-friendly interface that supports the creation of Web3 wallet accounts. This is achieved by merging a user's smart contract and externally owned account (EOA) into a single "smart account," providing a more unified Web3 experience.

An AA smart contract wallet built on account abstraction technology simplifies the complexity of blockchain transactions. One of the biggest pain points for users is the need to go through complex transaction processes and understand technical terms such as "Gas Fees" and "Gwei". The AA smart contract wallet solves this pain point by reducing the steps required for token exchange or trading to just one click.  

OKX Chief Marketing Officer Haider Rafique said: "We promise our customers and the wider DeFi community that security and interoperability will be our top priorities when building our Web3 wallet and applications. OKX Web3 wallet now supports 60+ public chains and, in addition to MPC wallet functionality, has officially launched the AA smart contract wallet, which not only allows users to trade on multiple blockchains without using their specific native tokens, but also will soon be launching social recovery functionality. This is a major change and we believe that the AA smart contract wallet will make transactions between different chains more seamless."  

OKX AA Smart Contract Wallet Advantages

Related to Gas

Users do not need to pay Gas fees using the native tokens of the public chain.

Use stablecoins USDT/USDC to pay for Gas.

When using Discover browser and web-based DApps, AA Wallet can also achieve third-party Gas payment.  

Simplified Token Exchange and Staking

 AA Smart Contract Wallet combines multiple stages of on-chain DEX, DeFi exchange, and staking processes into one step, allowing users to complete token exchange and staking to earn interest with just one click.

OKX Web3 wallet is not only the first AA smart contract wallet that supports Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain7, but also the first wallet that supports MPC technology on 37 public chains. By dividing the user's private key into three parts, it eliminates the need for traditional written records of private keys and mnemonic phrases, greatly improving security and eliminating single points of failure.

About OKX 

As a leading Web3 technology company in the world, OKX provides a one-stop Web3 product portfolio to meet the needs of both beginners and professionals, including:  

OKX Wallet: The world's most powerful, secure, and universal cryptocurrency wallet, supporting 60+ public chains. The wallet is unified across three platforms: App, plugin, and web, covering five major areas: wallet, DEX, DeFi, NFT market, and DApp exploration. It also supports Ordinals market, creating MPC wallets, exchanging Gas, iCloud/Google Drive backup of mnemonic words, custom networks, and connecting hardware wallets, among other functions.  

Market: OKX Web3 Market, with two trading markets: Ordinasl and NFT Market. Ordinasl Market supports one-stop trading, engraving BRC-20 assets, and BTC NFT. NFT Market is a multi-chain aggregation platform with 0 fees that integrates creation, collection, and trading functions, and supports both primary and secondary market transactions. Real-time access to mainstream NFT platform orders such as OpeanSea, MagicEden, Looksare, IMX Official, Element, Blur, etc., and supports one-click listing on multiple platforms. Supports 13 popular public chains such as ETH, SOL, BSC, OKTC.

DeFi: A one-stop on-chain investment platform that aggregates multiple investment products from 10+ public chains, 60+ projects, and 200+ protocols. It supports one-click cross-currency investment, automatic income calculation, and lower gas fees, making DeFi investment extremely simple.  

OKX has closely collaborated with many world-class brands and athletes, including English Premier League champions Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James, F1 driver Daniel Ricciardo, and the Tribeca Festival, among others. They hope to enhance fan experience through innovative interactive methods.  

As a leader in building innovative technology products, OKX dares to challenge the status quo and recently launched a global brand campaign called "The System Needs a Rewrite", advocating for a new paradigm led by Web3 self-governance technology. To learn more about OKX, please download our application.

Disclaimer 

This article is for educational and learning purposes only and should not be construed as an invitation, solicitation, or recommendation for any trading product (including NFTs) or financial or investment advice. The OKX Web3 wallet and OKX NFT marketplace are both subject to separate terms of service on the official website.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia