DeFi Saver integrates Safe to provide account abstraction in DeFi

Delaware, USA March 28, 2024 Chainwire

To greatly improve the user experience of DeFi users in the Ethereum ecosystem, DeFi Saver integrated native support for secure smart accounts and multisigs.

DeFi Saver, one of the leading apps for creating, tracking and managing DeFi positions on Ethereum, has just announced that it has integrated account abstraction leader Safe to take the DeFi user experience to the next level. This follows Safe’s recently announced milestone of more than $100 billion in digital assets backed by Safe Smart Accounts, with more than 40 million transactions conducted on Safe’s infrastructure.

The update means that DeFi users of protocols such as Aave, Compound, Morpho Blue, Spark, CurveUSD and Liquity will be able to manage their positions more efficiently with options that combine or consolidate multiple actions into one transaction using the option of secure smart accounts. This includes functions such as increasing or recovering leverage in a single transaction, performing collateral and debt swaps, moving entire active positions between different protocols, various automation functions, as well as even simpler things such as depositing collateral and borrowing funds in one, single transaction. All of this creates unnecessary steps that are abstracted from DeFi users and merchants.

In addition to all the advanced features that are possible with a smart account, this update also allows DeFi users to significantly increase security with Safe multisigs, a security standard for property ownership. Starting today, all current and new users can enjoy native multisig support on DeFi Saver.

Another important aspect for both teams is the collapsibility and portability that users will love. Because Safe is widely supported in DeFi apps and interfaces, this means that all DeFi Saver users will be able to check and manage their positions through other apps. Conversely, all existing Safe users can now seamlessly connect to the DeFi Saver app and use the available tools.

“We believe that modularity and portability are among the biggest and most important aspects of DeFi, but many teams ignore this primitive aspect, choosing to build small, proprietary, walled-garden systems. That’s why we chose Safe and plan to continue building on open, unauthorized building blocks. said Nenad PalinkaševićCo-founder of DeFi Saver.

Lucas Shore, The co-founder of Safe commented: “Smart accounts are critical infrastructure and we believe that for the mass adoption of DeFi we need the security and UX benefits of smart accounts to be integrated into the most popular DeFi projects today. We welcome this move by DeFi Saver to accelerate the transition to smart accounts and a secure ecosystem.

Going forward, the teams also highlighted that these changes will significantly improve the DeFi user experience by seamlessly combining multiple operations into a single transaction, as well as features such as sign-in-only modes where all transactions will be processed in the background for users, providing a faster and smoother experience.

About DeFi Saver

DeFi Saver is a management application for decentralized financial protocols best known for its advanced leverage management features and automated liquidation protection capabilities. Originally starting out as a MakerDAO-centric dapp in the early stages of DeFi, they quickly expanded support for multiple protocols as well as multiple L2 networks. Today, DeFi Saver supports protocols such as Aave, Compound, Morpho Blue, Spark, CurveUSD and Liquity on the Ethereum network, Arbitrum, Optimism and Base.

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For safe

Safe (formerly Gnosis Safe) is an on-chain asset custodial protocol that today secures approximately $100+ billion worth of assets. It creates a universalsmart account’ a standard for secure storage of digital assets, data and identity. Using Safe{Wallet}, its leading web and mobile wallet, and Safe{Core} account abstraction infrastructure, Safe aims to unlock digital ownership for every web3 user, including DAOs, enterprises, retail and institutional users.

website, TwitterDiscord, Blog, GitHub, Docs