Smart contract wallets, enabled by account abstraction, promises to vastly improve the onchain web3 experience. Here are the few smart contract wallets you can check out today.
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Account Abstraction Explained 👉 https://youtu.be/0eq6_427us8
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How Do Account Abstraction Wallets Work?
👉 https://www.coingecko.com/learn/account-abstraction-crypto
Links 🔗
Argent: https://www.argent.xyz/
Plene Finance: https://www.plena.finance/
Ambire: https://www.ambire.com/
Avocado: https://avocado.instadapp.io/login?redirectTo=%2F
Safe: https://safe.global
Sequence: https://sequence.xyz/wallet
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GeckoTerminal: https://www.geckoterminal.com/
Timestamps:
00:00 Intro
00:38 Wallet #1
01:38 Wallet #2
02:23 Wallet #3
03:27 Wallet #4
04:35 Wallet #5
05:36 Wallet #6
06:40 Outro
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In this video, we will talk about some of the smart contract wallets that you can check out today. You’re probably familiar with how cumbersome the web3 experience is today – approving and confirming transactions, needing different tokens to pay gas fees on different blockchains, long and difficult-to-read wallet addresses,
And not to mention possibly losing all your funds if you lose your seed phrase. Well, smart contract wallets promise to make these problems a thing of the past. If you need a refresher on account abstraction, which enables smart contract wallets, check out our explainer video on it here before continuing on this one!
First up, we have Argent, a smart contract wallet that works with Starknet and zkSync. Argent provides users with readable addresses through Starknet ID, as well as a unique third-party recovery factor through their Guardians program. Instead of relying on a seed phrase, users may assign 1 or
More wallet addresses as their “guardian” to help recover their wallet in the case of losing wallet access. If more than one “guardian” is assigned to a wallet, users will need a majority vote from trusted wallets to approve a recovery. Another neat feature from Argent is batched transactions,
Which allows users to save gas fees and time in the process. For example, when providing liquidity on Uniswap pools, one would usually have to pay gas fees and wait for 3 different transactions to be confirmed. By batching all three transactions into one, the user will just
Have to pay gas fees and wait for one single transaction that accomplishes everything. Next up, we have Plena Finance for mobile wallet users. It currently supports major EVM chains such as Polygon, BSC, Avalanche, and Fantom. To enable wallet recovery without a seed phrase, users can create their
Smart wallet using a third-party login such as Google, Facebook, or Twitter. Plena’s free Plena Naming Service allows users to chat with and receive funds from other Plena users using only .plena names, removing the need for the long, confusing ‘0x’ wallet addresses that we are all so familiar with.
It also features batch transactions, flexibility in tokens used for paying gas and ability to pre-approve transactions on selected dApps for frequent or recurring transactions. Up next, we have Ambire. Ambire allows users to create smart contract wallets from an email address, existing Web3 wallets like Metamask,
Or even hardware wallets like Trezor and Ledger. With the email option, users can recover their access to the wallet without the need of a seed phrase. The wallet currently supports over 10 EVM networks, including Ethereum, Avalanche, Polygon, Arbitrum and Optimism. Furthermore, its Gas Tank feature enables users
The flexibility to pay gas fees in any ERC-20 token on any supported blockchain. This means that a user can deposit USDC on Optimism and use it to pay for gas on Ethereum. Users who want more security for their wallet can also enable two-factor authentication and
Add a separate hardware wallet as a signer key to verify transactions. Ambire is available as a web-based wallet on browsers, as well as a mobile app on App Store and Google Play. Coming up, we have Avocado by Instadapp. Avocado is quite different to other smart contract wallets featured on
This list as it also features network and gas abstraction. When using a wallet such as MetaMask, users will have to switch between different networks when they are performing actions across different networks. With network abstraction, Avocado users would simply have to connect their pre-existing
Wallet like MetaMask to the Avocado network via WalletConnect, and not only will they see their balances across different networks, but perform transactions without switching networks. Besides that, Avocado also acts as a “gas station” where users will only need to use USDC as the gas token to transact on every network supported by Avocado.
Avocado is looking to add more features in the future to further improve user experience, such as batching smart contract actions, social recovery, and gasless experience. Aside from Ethereum, Avocado currently supports a wide range of EVM blockchains and Ethereum L2s. There’s also a wallet that is made for organizations,
Safe, also known previously as Gnosis Safe. Safe is a multi-signature wallet that runs on over 12 networks, including Ethereum, Polygon, Arbitrum, and Optimism. It is used by major players like Aave, Polygon, Stripe, and even Vitalik Buterin. Organizations can create smart contract wallets owned by multiple owners to
Ensure there is no single point of failure as every transaction from the multi-sig wallet will require confirmations from the majority of owners. Safe also has a host of other features. For one, it provides the option to customize an existing wallet’s ownership by adding or removing owners.
Safe also supports batched transactions, and allows its owners to set specific spending limits for any individual involved with the wallet, and even set a one-time allowance or a spending allowance that will automatically refill after a defined time-period. Finally, there’s a wallet built for Web3 gaming, Sequence.
Sequence allows users to sign in using email, Google, Facebook and more. It supports 9 EVM networks such as Ethereum, Polygon, Optimism, Arbitrum and Base. The wallet enables users to pay gas on any supported networks using ETH, WETH, MATIC, USDC and DAI. Besides that, Sequence has
Good support for various types of NFTs. The wallet also displays the artwork and metadata of NFTs stored in it, which could come in handy for Web3 gamers. Game or dApp developers can sponsor transactions with Sequence so that their users won’t need to
Pay gas. Therefore, if your favorite Web3 game happens to sponsor your transaction via Sequence, using this wallet might save you a couple bucks. The wallet is available to users through their Web wallet and browser extension for Google Chrome. They don’t have a mobile app but
Sequence has mentioned that the web wallet works perfectly with mobile web browsers. That will be it for today’s list, but there are also many other projects working on smart contract wallets that we couldn’t cover in this video such as Beam, and Obvious, which we’ll have to save for another time.
Do you want to learn more about how account abstraction works? Be sure to watch our video to understand how this could be the key to mainstream crypto adoption!
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