Safe

DeFi

Billion

Gnosis

Delaware, USA, March 28th, 2024, Chainwire
 
In a move to greatly improve the user experience of DeFi users in the Ethereum ecosystem, DeFi Saver integrated native support for Safe smart accounts and multisigs.
<a href="https://defisaver.com/?utm_source=Chainwire&amp;utm_medium=Web+portals&amp;utm_campaign=Safe+release+announcement" rel="nofollow noopener" target="_blank">DeFi Saver</a>, one of the leading apps for creating, tracking, and managing DeFi positions on Ethereum just announced they’ve integrated account abstraction leader <a href="https://safe.global/" rel="nofollow noopener" target="_blank">Safe</a>, to take the experience of DeFi users to the next level. This comes on the back of Safe’s recently announced milestone of more than $100 billion in digital assets secured on Safe smart accounts, with more than 40 million transactions conducted on Safe infrastructure.
The update means that DeFi users of protocols such as Aave, Compound, Morpho Blue, Spark, CurveUSD and Liquity will be able to manage their positions more efficiently, through use of options that bundle or batch multiple actions into one single transaction using the power of the Safe smart accounts. This includes features such as leveraging up or unwinding in one transaction, doing collateral and debt swaps, moving whole active positions between different protocols, various automation features, but also even simpler things such as depositing collateral and borrowing funds in one, single transaction. All of this results in unnecessary steps being abstracted away from DeFi users and traders.
Besides all the advanced features that are made possible through use of a smart account, this update also allows DeFi users to greatly increase their security through the use of Safe multisigs, which are the security standard for asset ownership. Starting today, all current and new users can enjoy native multisig support at DeFi Saver moving forward.
 
Another important aspect for both teams is the composability and portability that users will enjoy. Since Safe is widely supported in DeFi apps and frontends, this means that all DeFi Saver users will be able to check and manage their positions through other apps. And, vice versa, all existing Safe users can now seamlessly connect to the DeFi Saver app and make use of the plethora of tools available.
"We believe that composability and portability are some of the greatest, most important aspects of DeFi and yet this primitive is being ignored by many teams opting to build small, proprietary, walled garden systems. That's why we chose Safe and intend to keep building on the open, permissionless building blocks." said <a href="https://twitter.com/NPalinkasevic/" rel="nofollow noopener" target="_blank">Nenad Palinkasevic</a>, the co-founder of DeFi Saver.
<a href="https://twitter.com/SchorLukas" rel="nofollow noopener" target="_blank">Lukas Schor,</a> co-founder at Safe, commented, “Smart Accounts are critical infrastructure and we think that for DeFi mass adoption, we need the security of smart accounts, but also the UX benefits to already integrate within the top DeFi projects today. We welcome this move by DeFi Saver to accelerate the transition to smart accounts and Safe ecosystem.”&nbsp;&nbsp;
Moving forward, the teams also highlighted that this change will allow great improvements to the user experience in DeFi through continued batching of multiple actions into single transactions, but also through features such as sign-only modes where all transactions would be handled for the users in the background, providing a quicker and smoother experience.
About DeFi Saver
DeFi Saver is a management application for decentralized finance protocols best known for their advanced leverage management features and automated liquidation protection options. Having initially started as a MakerDAO-focused dapp in the early days of DeFi, they quickly expanded support to more protocols, as well as multiple L2 networks. Today, DeFi Saver lets you utilize protocols such as Aave, Compound, Morpho Blue, Spark, CurveUSD and Liquity, across Ethereum mainnet, Arbitrum, Optimism and Base.
<a href="https://defisaver.com/?utm_source=Chainwire&amp;utm_medium=Web+portals&amp;utm_campaign=Safe+release+announcement" rel="nofollow noopener" target="_blank">Website</a>, <a href="https://twitter.com/DeFiSaver" rel="nofollow noopener" target="_blank">Twitter</a>, <a href="https://discord.com/invite/XGDJHhZ" rel="nofollow noopener" target="_blank">Discord</a>, <a href="https://blog.defisaver.com/" rel="nofollow noopener" target="_blank">Blog</a>, <a href="https://github.com/defisaver" rel="nofollow noopener" target="_blank">GitHub</a>, <a href="https://docs.defisaver.com/" rel="nofollow noopener" target="_blank">Docs</a>
About Safe
Safe (previously Gnosis Safe) is an onchain asset custody protocol, securing ~$100+ Billion in assets today. It is establishing a universal ‘smart account' standard for secure custody of digital assets, data, and identity. With Safe{Wallet}, its flagship web and mobile wallet, and Safe{Core} account abstraction infrastructure, Safe is on a mission to unlock digital ownership for everyone in web3, including DAOs, enterprises, retail, and institutional users.&nbsp;
<a href="https://safe.global/" rel="nofollow noopener" target="_blank">Website</a>, <a href="https://twitter.com/safe" rel="nofollow noopener" target="_blank">Twitter</a>, <a href="https://discord.com/invite/nrQVY2566v" rel="nofollow noopener" target="_blank">Discord</a>, <a href="https://safe.mirror.xyz/" rel="nofollow noopener" target="_blank">Blog</a>, <a href="https://github.com/safe-global" rel="nofollow noopener" target="_blank">GitHub</a>, <a href="https://docs.safe.global/" rel="nofollow noopener" target="_blank">Docs</a>
 
<h5>Contact</h5>Filip Josipovic Defi Saver Inc. filip@decenter.com 
 
 
Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

DeFi Saver integrates Safe to bring account abstraction to DeFi (28 Mar)

Chainwire

Other articles published on Mar 28, 2024

Currency Wars: SWIFT Network Directly Challenges BRICS

Canadian Authorities Probe $169M QuadrigaCX Crypto Scam In New Wealth Investigation

Bitcoin: $9.5 Billion Options Expiry Looming – Is a Correction Imminent?

Mike Novogratz Advocates for Bitcoin Amid US Debt Concerns

Why Bitcoin is lining up to hit $200k during current cycle

XRP ETF Premium Primed For Monumental Leap: Eyes Set On $500

Join our free newsletter for daily crypto updates!