Smart Accounts (ERC-4337)
Smart Accounts are next-generation blockchain accounts that provide a significantly better user experience compared to traditional "Externally Owned Accounts" (EOAs). On automated.finance, we implement Smart Accounts using the ERC-4337 standard via Alchemy LightAccount.
Key Features
⛽ Gas Sponsorship (Paymaster)
The most significant benefit of Smart Accounts is the ability to execute transactions without holding the network's native token (e.g., ETH on Base, MATIC on Polygon) for gas fees. Through our Paymaster infrastructure, automated.finance can sponsor gas fees for specific operations, making the blockchain interaction feel seamless.
📦 Batch Transactions
Smart Accounts allow you to group multiple contract calls into a single transaction (UserOperation). This is not only more efficient but also ensures atomicity—either all operations succeed, or none do. Example: Approving a token and depositing it into a liquidity pool in one single click.
🔐 Programmable Signers
Unlike traditional wallets where a single private key controls everything, Smart Accounts are controlled by a signer. On our platform, your existing EVM Wallets (Privy) act as the signers for your Smart Accounts. This means you get the security of programmable wallets with the advanced features of account abstraction.
How it Works
- Signer Link: Every Smart Account is linked to a "Signer Wallet" (one of your EVM Wallets).
- Backend Execution: When an automation or a user triggers a transaction, the backend constructs a UserOperation.
- Internal Signing: The Signer Wallet provides the signature required to authorize the UserOperation.
- Bundling: The signed operation is sent to a Bundler (Alchemy/Pimlico), which packages it into a standard blockchain transaction.
- Paymaster Approval: If sponsorship is enabled, the Paymaster adds its signature to cover the gas costs.
Deterministic Addresses
Smart Accounts use a deterministic "CREATE2" deployment. This means your Smart Account address is calculated based on your Signer Wallet address and a "salt". You can share your Smart Account address to receive funds even before the account is "deployed" on-chain (the deployment happens automatically during the first outgoing transaction).
Unified Experience
In the platform UI, you will see your Smart Accounts alongside your traditional EVM Wallets. Most forms (like Crypto Transfer or Swap) will allow you to pick either type, automatically handling the underlying complexity of UserOperations when a Smart Account is selected.