OKX exchange unveils new feature for its Web3 wallets

Despite critics labeling Non-fungible tokens (NFTs) and associated crypto games a mere quick-money scheme, the Solana Foundation is determined to transform the tale, having made a public push in July 2023 with its Play Good Games (PlayGG) festival in San Diego, California. According to Johnny Lee, General Manager of Solana Games, the two-day festival was geared towards enticing the media, investors, and San Diego locals to discover a unique blockchain gaming experience without necessarily having NFTs or crypto brandished in their faces. Participants at the PlayGG event, including G2 Esports Pro gamers, were opportune to experience captivating games such as Aurory, Battle for Ankhos, Star Atlas, Alchemy, and 45+ titles. “The tremendous reception and enthusiasm from participants and our developer community has been overwhelming. This is a Web3-based event by all means, but we don’t think of it as one. We simply call it Play Good Games - PlayGG,” Lee said. With the term “NFT” gaining negative connotations in the blockchain gaming space, several developers have opted for a much friendlier description, such as “digital collectibles.” The games showcased at the free PlayGG event did not deviate from this new norm, as none of them, unlike previous blockchain-based games, pushed the “Tokens or NFT rewards” narrative. More interestingly, a significant number of the titles featured at the festival do not necessitate any kind of payment, whether crypto or fiat, to play. According to Lee, the goal for games backed by the Solana Foundation is not just about outperforming other blockchain-based games but to compete favorably when juxtaposed with other Web2 or traditional titles. Furthermore, Lee emphasized the importance of exhibiting high-quality blockchain-based games poised at delivering unparalleled gaming experiences to players. “To ensure that we only support promising projects, developers who approach us are required to afford our team playtest of their games, and we make a public announcement,” He said. In the past, gaming fans often criticized the expensive access and subpar quality of the “metaverse” and blockchain games. However, Solana Games have made public its willingness to invest the required resources and take short-term losses to ensure that only premium games launch on the Solana Network in the long term. Despite the optimism surrounding Solana’s gaming future, Lee acknowledges the setbacks that have befallen the blockchain in previous years and expresses positivity about the network’s strength in recent times. He added that the Solana network would seamlessly support transactions and games and that the upcoming Firedancer validator client could provide more stability. Per Lee, the performance improvement provided by Firedancer’s testnet has eclipsed the team’s expectations. “The titles showcased at the festival, despite being in the development stage, could level up well against traditional games upon release,” he added.


  • KX has launched a “Smart Account” feature in its wallet to simplify on-chain interactions.
  • This Smart Account combines smart contracts, externally owned accounts, and enables stablecoin payments, with added security like social recovery.
  • Supported by seven major chains, the innovation emphasizes accessibility and efficiency in cryptocurrency transactions.

The Seychelles-based cryptocurrency exchange OKX is set to introduce a new feature, the “Smart Account,” to its decentralized wallet, the OKX Wallet. This strategic addition is expected to deliver a new shift in the user experience and transaction convenience. 

The unveiling of the Smart Account is an attempt to address the long-standing challenge in the crypto landscape – bridging the gap between complexity and usability. This feature will use account abstraction technology to reduce the complexities of on-chain interactions and render them more user-friendly.

Account abstraction aims to conceal the more-technical details of on-chain interactions. In OKX Wallet’s context, it seeks to unify users’ smart contracts and externally owned accounts into a single Smart Account. Consequently, users can engage with multiple contracts within a single transaction, simplifying the overall transaction process.

“Account abstraction technology is a game-changer for the broader adoption of Web3 and enables new use cases and user experiences,” said Jason Lau, the Chief Innovation Officer at OKX. The new feature underscores the commitment of OKX to provide an accessible, secure, and powerful Web3 gateway, according to Lau.

One-click transactions and gasless payments

In another bid to boost user convenience, OKX is gearing up to supercharge transactions by reducing traditionally multi-step processes such as token swaps and staking activities into single-click actions. This will democratize access to crypto activities for enthusiasts at all levels.

Furthermore, the Smart Account feature enables users to pay for transactions on a range of blockchains using stablecoins, specifically USD Coin (USDC) or Tether (USDT). This innovative move is set to remove the hassle of dealing with native tokens and complex gas fees, making transactions smoother than ever before.

The cryptocurrency exchange is also planning to implement additional account abstraction features that enhance security. Notably, it will introduce a unique social recovery feature, which will allow users to appoint ‘guardians’ from their social circles to aid in the recovery of their Smart Account in case of lost keys.

Expanding global footprint

The Smart Account feature will be compatible with seven major chains, including Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and OKT Chain. This extensive chain support emphasizes OKX Wallet’s commitment to accessibility and inclusivity in the Web3 landscape.

OKX, currently ranked third for Bitcoin futures according to aggregated open interest, continues to carve out a reputation as a pioneer in the crypto exchange sector. With the roll-out of the Smart Account feature, the exchange is poised to set a new standard for crypto transactions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Written by Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.