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Account Abstraction ​

BEX supports account abstraction for all operations within the DEX, enabling users to sign EIP-712 transactions off-chain and have them executed by third-party relayers. This offers several benefits, such as:

  • Avoiding the inconvenience of managing transactions directly
  • Paying exact costs with easily manageable tokens (e.g. stablecoins) instead of calculating gas fees
  • Saving on execution costs by having relayers bundle actions to amortize gas costs
  • Creating pre-signed transactions for later execution

Types of Account Abstraction ​

BEX supports two types of account abstraction: immediate and conditional.

Immediate Account Abstraction ​

Immediate account abstraction occurs when a user signs an intention and sends it to a relayer for imminent and unconditional execution.

Conditional Account Abstraction ​

Conditional account abstraction allows users to sign transactions that are only executed when specific conditions are met. These conditions can include time delays or market events like stop-loss orders. BEX enables conditional account abstraction by allowing intentions to be gated with checks to arbitrary oracle contracts with customizable calldata.

For example, to implement a stop-loss order, a user can sign an intention with a call to an oracle that checks if the price of an asset (e.g. from a Chainlink oracle) has exceeded a specified threshold.

Use Cases ​

Account abstraction in BEX enables a wide range of use cases, such as:

  • Gasless transactions, allowing for users to pay relayers for BEX operations using any token in their wallet
  • Scheduled transactions: Users can create pre-signed transactions set to execute at specific times or intervals, such as recurring trades
  • Advanced trading strategies: Conditional account abstraction allows for the implementation of complex trading strategies, like stop-loss or take-profit orders

Usage ​

BEX implements account abstraction primarily through the userCmdRelayer function on the DEX contract.

This enables off-chain signing of transactions and on-chain execution by third-party relayers, including optional conditions governing relayer calls.