Instadapp Launches Avocado Smart Contract Wallet with Multi-Network Transaction Support

03/09/2023 02:10 • Digital Disruptors • 137 views

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 DeFi management protocol, has recently launched its new smart contract wallet called Avocado. This new wallet is designed to support multi-network transactions, which means users can easily transfer their assets between different blockchain networks. What’s interesting about Avocado is that it supports gas in all networks in the form of USDC, without the need to manage different local gas tokens. This allows users to save time and effort in managing different gas tokens in different networks.

Aside from supporting multi-network transactions, Avocado also comes with a built-in account abstraction feature. This feature enables users to create a deterministic smart contract that can only be controlled by themselves. This means that users have full control over their assets and can ensure their security while being integrated into the multiple networks that Avocado supports.

One unique aspect of Avocado is that it charges an additional 20% of the gas fee, with 10% of this fee given to the DApp integrator. This incentivizes DApp developers to integrate their applications into Avocado and leverage its multi-network transaction support and built-in account abstraction feature.

Overall, Instadapp’s new Avocado smart contract wallet is a game-changer in the DeFi world, especially for users looking to conduct transactions across multiple blockchain networks. With its support for gas in all networks in the form of USDC and its built-in account abstraction feature, Avocado offers convenience and security to its users. Moreover, its incentivization scheme for DApp developers further encourages adoption and integration, which ultimately strengthens the overall DeFi ecosystem.

In conclusion, the launch of Avocado by Instadapp marks a significant milestone in the development of DeFi infrastructure and demonstrates the constant evolution of blockchain technology in enabling more efficient and secure transactions between different networks.

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