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What is a Smart Wallet?

Introduction to the DeFi Saver Smart Wallet.
Written by Nikola Jankovic
Updated 5 months ago

The Smart Wallet is your DeFi Saver account.

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

Using the Smart Wallet enables you to use advanced features such as Boost, Repay, Automatiton and any 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.

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

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

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