Multi-chain DeFi management protocol Instaapp launched smart contract wallet Avocado

On March 9, the multi-chain DeFi management protocol Instadapp launched the smart contract wallet Avocado, which supports multi-network transactions. Gas in all networks is supported in the form of USDC, without the need to manage multiple local gas tokens. At the same time, users can use the built-in account abstraction to create a deterministic smart contract that can only be controlled by themselves. Avocado charges an additional 20% of the gas fee, of which 10% is given to the DApp integrator.

Interpretation of this information:

DeFi has been growing in adoption and importance in the crypto space, and with that comes the need for better infrastructure and tools to manage and transfer assets across different networks. Instadapp has recently launched an interesting solution to this problem with their new smart contract wallet, Avocado.

Avocado is essentially a multi-chain DeFi management protocol that supports multi-network transactions through a smart contract wallet. This means that users can easily transfer assets between different networks without having to manage multiple local gas tokens. Instead, Instadapp has created a way to support gas in all networks using USDC as the form of payment.

One interesting feature of Avocado is the built-in account abstraction. This allows users to create a deterministic smart contract that can only be controlled by themselves. Essentially, this means that users can create a secure transaction that cannot be altered or interfered with by other parties.

It should be noted, however, that Avocado charges an additional 20% of the gas fee. While this may seem like a downside, it’s important to remember that 10% of this fee goes to the DApp integrator. This means that there is an incentive for developers and other parties to integrate with Avocado, which could lead to greater adoption and overall usage of the protocol.

Overall, Avocado seems to provide a promising solution to the problem of managing multi-chain DeFi assets and transactions. It’s easy to use, secure, and offers an additional incentive for developers to integrate their DApps with the protocol. It will be interesting to see how users and developers respond to this new tool in the coming months.