An AA (Account Abstraction) Smart Contract Wallet is a type of wallet where asset management is guaranteed to occur exclusively through smart contracts. It also features advanced functionalities such as batch transactions, gas sponsorship, key recovery, and more. Explore the exceptional capabilities of AA Smart Accounts.
Initially, OKX Wallet supports the creation of AA Smart Accounts across seven major networks: Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKTC.
Key Benefits of AA Smart Accounts
- Enhanced Security: Utilize multi-factor authentication and streamlined account recovery options.
- Improved User Experience: Perform complex actions, like token swaps on a DEX, in a single step—operations that previously required multiple interactions with a standard wallet.
- Greater Flexibility: Pay for transaction gas fees not only with the native chain's coin but with any token, including stablecoins. The option for a third party to sponsor your gas fees is also available.
- Advanced Programmable Features: The wallet itself is a smart contract, offering the same security level as a standard OKX Wallet but with additional customizable features.
How to Create or Import an AA Smart Account
An AA Smart Account is generated from a standard wallet account, which controls its on-chain activity and recovery. To create or import an AA Smart Account, you must first have a wallet. 👉 Learn how to set up a standard OKX Wallet.
Creating an AA Smart Account
- After creating your standard wallet, simply select Add Account > Smart Account to generate an AA Smart Account within your wallet.
Note:
- A keyless wallet or a private key wallet can only create one AA Smart Account.
- Only one AA Smart Account can be created per seed phrase wallet.
Importing an AA Smart Account
To import an AA Smart Account, you must import its corresponding master wallet.
If your AA Smart Account was created in a keyless or private key wallet, it will be automatically restored after you import the master wallet, provided the AA Smart Account has a balance.
If your AA Smart Account was created in a seed phrase wallet, you must first import that wallet. The initial account viewable will be the standard one; you will then need to fund it appropriately to access and interact with the associated AA Smart Account.
Frequently Asked Questions
Q1: What is the difference between Externally Owned Accounts (EOA), Contract Accounts (CA), and AA Smart Accounts?
Externally Owned Accounts (EOA) are accounts where you directly control the private keys, such as those created via seed phrases, keyless wallets, or hardware wallets within OKX. Contract Accounts (CA) are managed by code logic, have no private keys, and hold token contracts and DeFi smart contracts. AA Smart Accounts combine the benefits of both; the account itself is programmable, enabling features like batch transactions, gas delegation, and social recovery.
Q2: Can I create an AA Smart Account without a standard wallet?
No, you cannot create an AA Smart Account in OKX Wallet without first having a standard wallet account. The AA Smart Account is derived from and managed by your standard wallet.
Q3: Is it possible to delete an AA Smart Account?
Yes, it is possible to remove an AA Smart Account from your wallet interface if you no longer wish to use it. This action does not delete the smart contract on the blockchain but severs your wallet's connection to it.
Q4: What should I be cautious about when using an AA Smart Account?
While paying gas with stablecoins and having gas sponsored are great advantages, executing smart contract interactions typically incurs higher gas fees than simple transfers, especially during network congestion. Furthermore, as AA Smart Accounts are still emerging, some decentralized applications (DApps) may not fully support them yet, which could lead to errors or an inability to claim certain rewards. To mitigate access loss risk, consider creating your AA Smart Account on a secure, keyless wallet base.
Q5: Why are gas fees sometimes higher for AA Smart Account transactions?
There are two primary reasons:
- Initial Deployment Cost: The first time you interact with the AA Smart Contract, it often needs to be activated or deployed, which adds a one-time cost to your gas fee.
- Computational Complexity: Interacting with a smart contract involves more complex operations and requires more computational resources from the network compared to a simple token transfer, naturally leading to higher fees.
Q6: Where can I find a list of DApps that currently do not support AA Smart Accounts?
Support for AA Smart Accounts is continually evolving. For the most current information on compatibility, it is best to check the official documentation or support channels of specific DApps you intend to use. 👉 Explore more strategies for navigating Web3 compatibility.
The Future of AA Smart Accounts
Beyond the foundational features already available, OKX Wallet plans to introduce exciting new capabilities, such as:
- Social Recovery: More user-friendly and secure methods for recovering account access.
- Wallet Mini-Program Framework: Simplifying interactions like gas-free transactions among friends and other innovative extensions.
- Multi-Signature Functionality: Adding an extra layer of security for shared or corporate accounts.
- Advanced On-Chain Investment Strategies: Features like copy-trading and modular, customizable investment modules.