Smart Transactions
Last updated
Last updated
We’ve introduced a unique feature into WallitIQ tailored for a wide range of crypto users, designed to minimize losses during large transactions. Significant amounts can be lost to slippage and transaction costs, but our AI engineering addresses this by suggesting a "timely" transaction. While this type of transaction may take slightly longer to complete, it substantially reduces potential losses.
The AI works by analyzing the optimal conditions for executing the transaction, including factors like transaction amounts, slippage, gas prices (Gwei), and nonce values. It then automatically breaks the transaction into smaller, more efficient parts, executing them in the background to save the user a considerable amount in fees and slippage, ultimately ensuring a more cost-effective transaction.
For example, if a user wants to swap 10 ETH for a lesser-known altcoin, then doing this in one go might lead to high slippage, costing the user more and resulting in fewer altcoins received. WallitIQ’s AI technology steps in to break the transaction into smaller parts, executing each at the best times (when the gas is low). This way, the user ends up getting more altcoins and paying lower fees, all without having to worry about timing or market conditions—the wallet handles it all.
We introduced the Transaction Automation ability into WallitIQ to provide numerous benefits, including executing trades and transfers at optimal times, streamlining routine financial tasks, enhancing user control and customization, improving security, and optimizing participation in DeFi activities.
☑️ Automated Trade Execution
The WallitIQ will allow users to execute trades or transfers at optimal times, even when they are not actively monitoring the market. For example, users can set up automated rules to buy or sell assets when prices hit certain thresholds, ensuring they capitalize on market opportunities without having to constantly check price movements.
This is particularly useful in the highly volatile cryptocurrency market, where price swings can occur rapidly and unpredictably. Automated transactions help users lock in profits or minimize losses by executing trades instantly when conditions are met.
☑️ Automated DeFi Interactions
The transaction automation feature of WallitIQ will simplify interactions with decentralized finance (DeFi) protocols. Users will be able to automate actions like staking, yield farming, or liquidity provision, allowing them to maximize their returns without actively managing their investments. This feature can attract more users to DeFi platforms by lowering the barrier to entry.
For example, with WallitIQ's transaction automation, a user could set up an automatic strategy or rule to reinvest their earned staking rewards back into a yield farming pool every week. This hands-free approach ensures that the user maximizes their returns without needing to monitor or manually execute each step, making DeFi participation effortless and more accessible.
☑️ AI-Driven Smart Contract Analysis
When a user attempts to connect their wallet to a decentralized application (dApp) or interact with a smart contract, WallitIQ’s AI-driven system steps in as a safeguard. The AI scans the smart contract’s code for any known security flaws, such as re-entrancy attacks, integer overflows, or unchecked external calls, which are common vulnerabilities that could be exploited by attackers. Additionally, the AI looks for malicious patterns, such as hidden backdoors or unauthorized access points, that could compromise the user’s funds or data.
