Ethereum gas fees have been a significant challenge for DeFi users. The average gas fee on this blockchain has more than doubled in a year, from 13.58 last year to 28.53 Gwei today. At the same time, gas fees on Ethereum are extremely volatile. When the network becomes congested, gas fees can go up by 300-400%.
This obstacle often acts as a deterrent, especially for those transitioning from Web2 platforms. However, innovative solutions such as Account Abstraction (AA) wallets, originally proposed by the Ethereum core team, are paving the way for a more efficient and user-friendly experience. AA wallets can be set up effortlessly with just a single click using familiar platforms like Google or social networks. This innovation streamlines the onboarding process for Web2 audiences entering the DeFi space and plays a pivotal role in reducing gas fee costs.
AA models are already being used by Rivo, an emerging platform that merges a multichain smart-contract wallet with a DeFi marketplace, offering seamless access to earning opportunities within DeFi.
What is Rivo?
Rivo is a smart contract wallet and a DeFi marketplace built on AA framework. The platform enables users to effortlessly swap assets with multichain support that includes Ethereum, BNB Smart Chain, Polygon, Arbitrum, Optimism, and Avalanche.
What sets Rivo apart is its ability to maintain a simplified login process, addressing one of the core challenges faced by users in the DeFi space. The platform’s unique combination of features allows users to easily set up a wallet, engage in cross-chain asset swaps, invest in expert-curated, high-performance DeFi strategies, and manage gas payments with any token in their balance, thus establishing a comprehensive approach to digital asset management.
Key Features of Rivo
- AA Technology: Enables login without a seed phrase, utilizes social recovery, and allows gas payment with any token, bolstered by an added layer of security.
- Simplified Asset Transactions: Facilitates sending, receiving, and swapping cryptocurrency directly from the wallet with a single click.
- Multichain Support: The self-custodial wallet extends compatibility to major networks like Ethereum, BNB Smart Chain, Polygon, Arbitrum, Optimism, and Avalanche.
- Diverse Payment Options: Lets users buy crypto with credit/debit cards, Apple Pay, and Google Pay, covering 17 onramps and 182 local payment methods.
- Cross-Chain Swaps: Provides cross-chain swapping at competitive rates, backed by real-time fraud monitoring.
- Real-Time Portfolio Analytics: Offers comprehensive insights into PnL (profit and loss), strategy performance, NFTs, and transaction history, eliminating the need for multiple apps and dashboards.
- Dapp Compatibility: Rivo’s browser extension allows interaction with decentralized applications using the Rivo wallet.
- Enhanced Security Measures: Includes features like auto-lock timers, 2FA, multi-signature, spending limits, and time-based transactions for optimal fund protection
Earning with DeFi, Just One Click
The core advantage of Rivo is the ease of use, allowing users to engage in one-click cross-chain swaps and invest in DeFi strategies with any token they possess. The DeFi marketplace within Rivo provides access to curated investment strategies hand-picked by seasoned analysts, where users can simply invest by connecting their MetaMask or any crypto wallet. The marketplace currently has 10+ curated DeFi strategies with the best risk-reward ratio from Beefy, Yearn, Frax, Stargate USDT, and sfrxETH Staking.
Rivo simplifies the investment process with its one-click gateway feature, allowing users to invest in hand picked DeFi strategies with best risk reward ratio. This ease of access and flexibility is particularly valuable in a space where time and efficiency are crucial. Users can swiftly engage in DeFi strategies with up to 28% APY, leveraging these well-researched and diverse options to maximize their investment potential. Through Rivo’s DeFi Marketplace users can also interact with prominent DeFi protocols such as Frax.Finance, Yearn.Finance, and Beefy.Finance.
These features are further complemented by a Profit and Loss page, enabling users to easily track the performance of their investments, identify top gainers and losers, and adjust strategies accordingly. The platform also provides Strategies Lifecycle Updates. These updates keep users informed about vital changes in their investment strategies, including adjustments in APY, risk scores, and shifts in total value locked (TVL).
Conclusion
Rivo’s adoption of the AA model introduces new dynamics to the DeFi sector. It’s evident that with this technology, the platform can promote a user-centric model for DeFi investments, streamlining the transition from Web2 to Web3. Rivo is well-positioned to make DeFi investments more accessible and less intimidating and can potentially open up a world of opportunities for a broader audience and set new benchmarks for ease and security in digital asset management.
