A Quick Overview of the AA Smart Contract Wallet Launched by Europe Easy OKX

AA Smart Contract Wallet is a new product introduced by Europe Easy OKX.

On August 2, 2023, OKX, the leading Web3 technology company, announced the official launch of the OKX Web3 wallet AA smart contract wallet, which will support users to pay gas with stablecoins USDT/USDC on multiple chains. In addition, in future 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 individuals in social networks even if they have lost their private keys.

The OKX Web3 wallet is one of the first wallets to support multi-chain account abstraction. With 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 convenience for beginner users, 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 empower the widespread application 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 features and services.”

Account abstraction simplifies the complexity of blockchain transactions by supporting the creation of Web3 wallet accounts and hiding more technical details of their on-chain interactions behind a more accessible and user-centric interface. This is achieved by merging the user’s smart contracts and externally owned accounts (EOA) into a single “smart account,” providing a more unified Web3 experience.

The AA smart contract wallet built on account abstraction technology simplifies the complexity of blockchain transactions. For example, 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.

Haider Rafique, Chief Marketing Officer of OKX, said, “We are committed to prioritizing security and interoperability when building our Web3 wallet and applications for our customers and the wider DeFi community. The OKX Web3 wallet now supports 60+ public chains, MPC wallet, and 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 launch the social recovery feature. This is a significant change, and we believe the AA smart contract wallet will make transactions between different chains more seamless.”

Advantages of OKX AA Smart Contract Wallet:

Related to Gas:

• Users do not need to pay gas fees with native tokens of public chains

• Pay gas with stablecoins USDT/USDC

• When interacting with DApps on the Discover browser and web version, the AA wallet can also achieve third-party gas payment.

Simplified token exchange and betting:

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

The OKX Web3 Wallet is not only the first AA Smart Contract Wallet to support Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain, but also the first wallet to support MPC technology on 37 public chains. By dividing the user’s private key into three parts, it eliminates the need for traditional written record of private keys and mnemonic phrases, greatly improving security and eliminating single points of failure.

About OKX

As a leading global Web3 technology company, OKX provides a comprehensive portfolio of Web3 products to meet the needs of beginners and professionals, including:

• OKX Wallet: The most powerful, secure, and versatile cryptocurrency wallet in the world, supporting 60+ public chains. It is available on App, browser extensions, and web platforms, covering five major categories: wallet, DEX, DeFi, NFT marketplace, and DApp exploration. It also supports features such as Ordinance market, creating MPC wallets, gas conversion, iCloud/Google Drive backup for mnemonic phrases, custom networks, and hardware wallet integration.

• DEX: The most powerful DEX and cross-chain aggregator, aggregating 10+ cross-chains, 20+ public chains, 300+ DEX, and 3 million+ assets. By using X Routing smart routing, it enables users to simultaneously use multiple DEX for a single transaction, providing the best prices and 0 transaction fees. It also includes features such as DEX market data, limit orders, and KYT security checks.

• Market: OKX Web3 Market consists of two major trading markets: Ordinance and NFT. The Ordinance market supports one-stop trading, engraving BRC-20 assets, and BTC NFT. The NFT market is a zero-fee multi-chain aggregation platform that integrates creation, collection, and trading functions, supporting both primary and secondary market transactions. It provides real-time data from mainstream NFT platforms such as OpenSea, MagicEden, Looksare, IMX Official, Element, and Blur, and supports one-click listing on multiple platforms. It currently supports 13 popular public chains including ETH, SOL, BSC, and OKTC.

• DeFi: A one-stop on-chain investment platform that aggregates investment opportunities from 10+ public chains, 60+ projects, and 200+ protocols. It supports one-click cross-chain investments, automatic yield calculation, and gas-saving features, making DeFi investments extremely simple.

OKX has established close partnerships with top global brands and athletes such as English Premier League champions Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James, F1 driver Daniel Ricciardo, and the Tribeca Festival, aiming to enhance fan experiences through innovative interactive methods.

As a leader in building innovative technology products, OKX dares to challenge the status quo. Recently, it 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 or visit: okx.com

Disclaimer

This article is for educational and learning purposes only and should not be construed as, or considered to be, an invitation, solicitation, or recommendation for any transactional products (including NFTs) or financial or investment advice. The OKX Web3 wallet and OKX NFT marketplace are subject to the separate terms of service of www.okx.com.

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