OKX Wallet has launched an innovative Smart Account feature powered by account abstraction technology, enabling users to pay gas fees with USDT and USDC across multiple blockchains. This advancement simplifies Web3 interactions while enhancing security and usability.
Key Features of Smart Account
Multi-Chain Gas Payments:
- Pay transaction fees using stablecoins (USDT/USDC) instead of native tokens
- Supported chains: Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain
Streamlined Transactions:
- Execute token swaps and staking in one click
- Conduct gasless transactions when sponsored by dApps
Upcoming Social Recovery:
- Future update will allow assigning trusted "guardians" for account recovery
- Eliminates single point of failure in key management
👉 Discover how Smart Account revolutionizes DeFi interactions
Why Account Abstraction Matters
Account abstraction merges smart contracts and externally owned accounts (EOAs) into unified Smart Accounts, offering:
- Simplified UX: Hides technical complexities like gas fees and Gwei calculations
- Enhanced Security: Utilizes MPC technology to split private keys across three shards
- Cross-Chain Interoperability: Supports 60+ chains without native token requirements
Jason Lau, OKX Chief Innovation Officer:
"Smart Account is pivotal for Web3 adoption, enabling new use cases while maintaining security. We're redefining wallet functionality to be both powerful and beginner-friendly."
Frequently Asked Questions
1. How does Smart Account reduce transaction steps?
By combining contract interactions into single transactions, users can execute swaps or stake assets with just one click, bypassing multiple confirmation screens.
2. Which stablecoins are supported for gas payments?
Currently USDT and USDC across seven major EVM-compatible chains.
3. When will social recovery be available?
The feature is slated for release in a future update, allowing users to recover accounts via trusted contacts.
4. How does MPC technology improve security?
Multi-Party Computation divides private keys into three encrypted fragments stored separately, removing vulnerability from seed phrases.
👉 Explore OKX Wallet's advanced security features
Industry Impact
Haider Rafique, OKX CMO, emphasizes:
"Smart Account eliminates chain-specific token barriers, making cross-chain transactions seamless—a breakthrough for DeFi interoperability."
Disclaimer: This content is informational only. Digital assets carry risks; assess your financial capacity before engaging. Consult professionals for specific advice.