What is a Smart Wallet?

Introduction to the DeFi Saver Smart Wallet.
Written by Nikola J.
Updated 7 months ago

The Smart Wallet is essentially your DeFi Saver account, as it keeps all your positions created using DeFi Saver.

Technically speaking, the Smart Wallet is a smart contract wallet that has no limitations in terms of how complex transactions can be run on it, which can otherwise be a limiting factor when trying to use decentralized finance protocols directly using your standard Ethereum account.

Use of the Smart Wallet is what enables advanced features such as Boost, Repay, Loan Shifting and Automation, as well as all other complex, multi-step actions on your DeFi positions.

Your Smart Wallet is created by you, owned by you and it can be accessed and managed solely by you.

In technical terms, the Smart Wallet is also known as DSProxy. It's a standardized proxy wallet contract most famous for its use in MakerDAO.

Additionally, if you ever used MakerDAO in the past, this would mean that you already have a Smart Wallet of your own as that exact same one is used.

We decided to use the DSProxy as the Smart Wallet as it is a thoroughly tested (being one of the most used contracts in decentralized finance and Ethereum in general) and well audited piece of open source code that's perfectly capable of doing everything we have imagined and created as of now.

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