Migrating positions from an EOA to a Smart Wallet
Migrating your position from an EOA to a Smart Wallet can open up a wide range of useful DeFi Saver features - on top of the added layer of security that Safe Smart Wallets offer.
No matter which protocol you have a position on, you'll be able to easily migrate it from your EOA to a Smart Wallet:
Show me how:
The first step is to navigate to the dashboard of the protocol you're using. For this example, let's say you have a position on Aave.
So first, just navigate to the Aave dashboard on DeFi Saver:
Once there, click on the Migrate button, located right next to the "Create" option:
This will open a pop-up window where you'll be able to select the destination of your migration:
If you have an existing Smart Wallet under the ownership of the EOA, you'll be able to migrate to it - if you don't have an existing one, the only option will be "Create a new wallet".
The remaining steps would be to click the "Migrate" button, sign the transaction(s) - and your position will be migrated to a Safe Smart Wallet.
Accessing your Safe wallet after migration
Once you've migrated, you'll be able to access your Safe wallet via the safe.global app.
Simply connect your EOA (owner) wallet, and the app will show you the newly created Safe.
Are there any fees when migrating?
There are no fees from DeFi Saver for migrating. However, standard gas fees apply. Additionally, Migrate uses a flash loan to clear your initial debt, move your collateral assets (aTokens) to the Smart Wallet, recreate your debt via Smart Wallet and then have the flash loan debt cleared.
While DeFi Saver first tries finding a free flash loan source (Morpho, Balancer, etc...) - if no free sources are found, an Aave flash loan is used, which has a 0.09% protocol fee.
Please note that migrating only works one-way, from an EOA to a Smart Wallet. Reverse migration, where a position is moved back from a Smart Wallet to an EOA is not possible.
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