0xKofi

Metamask have added a button to the UI that makes it easy to upgrade to a smart account (using EIP-7702)

The smart account revolution is just getting started. Ethereum UX is about to get really good really fast.

"State of Smart Accounts 📊✨"

I gave this talk at @zuberlin yesterday. Shared the latest trends in smart account adoption data and predictions on what comes next.

Link in next tweet 🔗
15 min runtime 🕐

Last week, 150,853 EIP-7702 smart accounts made an onchain action.

~67% of these accounts were authorizing a criminal contract designed to drain their funds at time of txn. Huge thanks to the @wintermute_t research team for their work labelling criminal contracts.

The four types of actions a 7702 account can make are
- ERC-4337 UserOps: Actions done using ERC-4337 UserOperations
- Self-initiated txns: Transactions where the smart account runs its own code
- Relayed actions: Actions initiated by a third-party wallet that calls the smart account's code (without using 4337)
- EOA txns: Regular transactions where the smart account didn't use its code

先月、1,000,000以上のウォレットがEIP-7702を使用してスマートアカウントにアップグレードされました。このマイルストーンは私が予想していたよりもはるかに早く達成されました。

残念ながら、そのアップグレードの99％は、以前に漏洩した秘密鍵を持つウォレットを変換するハッカーによるものでした。彼らはこれらのアカウントをプログラムして、盗まれた資金を自動的に自分たちに転送させました。

私は、何百万もの一般ユーザーが今年中にウォレットをアップグレードすると信じています。

ハッカーは、スマートアカウントの機能（自動アクションやバンドルトランザクションなど）が彼らの盗みを加速させるため、7702に素早く飛びつきました。しかし、ウォレット会社は次の理由から遅れて動いています：
- セキュリティに関しては絶対に完璧でなければなりません。主要なウォレットの7702アカウントコードがハッキングされた場合、それは壊滅的です。
- 7702のアップグレードを追加すると、ユーザーにとってアプリが10倍良くなりますが、直接的に収益を増加させることはありません。

今週末、100万以上のウォレットがEIP-7702を使用してこれらの契約を承認しました。これらが誰に属しているか知っている人はいますか？ etherscanで確認されていません

0x1ee8e3b6ca95606e21be70cff6a0bd24c134b96f
- Base上

0xcefd060da801a3f004d6b307f4cab943d1c9b45b
- Optimism上

|@0xbbbb_eth has built a beautiful L2Beat-for-EIP7702 dashboard

Lots of great insight into different EIP7702 smart account implementations:
- TVL
- Features (eg. Batch calls)
- Method of transacting (eg. ERC4337 bundles)
And more!

Link in next tweet

EIP-7702 launched last week. More than 25,000 wallets are currently upgraded to EIP-7702 smart accounts.

- 13,013 on Ethereum
- 5,588 on OP Mainnet
- 5,261 on BSC
- 2,851 on Base
- 229 on Gnosis

EIP-7702 launched last week. More than 25,000 EIP-7702 smart accounts are live right now.

(1) 6.9k are @WhiteBit accounts
(2) 4.8k are @MetaMask accounts
(3) 4k use an unknown account implementation [0x497...268]
(4) 3.4k are @okx accounts

もし1つのEOAが
- あるチェーンでMetamask Delegatorアカウントの実装を承認し
- 別のチェーンでAmbireアカウントの実装を承認した場合、それを2つのEIP-7702スマートアカウントと見なしますか、それとも1つと見なしますか？

Only a few EOAs have upgraded to smart accounts since EIP-7702 launched last week.

Within the next quarter, I predict most major wallets will add a 7702 auth button. Then millions will upgrade.

More than 14,000 wallets are currently upgraded to EIP-7702 smart accounts
(not sure how best way to phrase that. "currently upgraded"? "live"? "enabled"? what do you think?)

- 5,114 on Ethereum
- 4,192 on OP Mainnet
- 4,163 on BSC
- 556 on Base
- 152 on Gnosis
- 4 crosschain

Around 4pm UTC today EIP-7702 will be enabled on all the Superchain L2s

Fixing Ethereum UX doesn't end with Pectra. Pectra was just the beginning.

𝟳𝟳𝟬𝟮 𝗶𝘀𝗻'𝘁 𝗮 𝘄𝗶𝗻 𝘂𝗻𝗹𝗲𝘀𝘀 𝘄𝗲 𝘂𝘀𝗲 𝗶𝘁.

(1) Wallets like Metamask need to make it easy to upgrade your EOA to a smart wallet. Add an "upgrade" button.

(2) Apps need to be smart wallet compatible. For example, DEX interfaces should detect if you have a smart wallet and automatically enable single transaction approve+swap.

Fixing Ethereum UX doesn't end with Pectra. Pectra was just the beginning.

7702 isn't a win unless we use it.

(1) Wallets like Metamask need to make it easy to upgrade your EOA to a smart wallet. Add an "upgrade" button.

(2) Apps need to be smart wallet compatible. For example, DEX interfaces should detect if you have a smart wallet and automatically enable single transaction approve+swap.

Ethereum EIP-7702 metrics for 2025-05-07
✨Authorizations: 1,103
⚡️Set Code Transactions: 377
📜Authorized Contracts: 29

EIP-7702 launched on Ethereum 24 hours ago. Here are the top Authorized Contracts so far:

1. @WhiteBit Account -> 864 Authorizations
2. 0x802...c2bb -> 562 Authorizations
3. @Metamask Delegator -> 168 Authorizations

Authorization = Upgrading a regular EOA wallet to a smart wallet by authorizing a contract. Depending on the contract, the smart wallet will have features like transaction batching.

Authorized Contract = This is the contract whose code is used to upgrade your wallet.

The upgraded wallet has a "delegation designator" that points to this smart contract. When a transaction is sent to the EOA, it executes the code at the designated address.

EIP-7702 misconceptions I've seen on the timeline today:

> All Ethereum wallets are now smart wallets
Not true. An EOA wallet has to sign an EIP-7702 authorization to get upgraded into a smart wallet.

For safety reasons, wallet apps will be restrictive about which smart wallet implementations you can authorise.

There isn't yet a button you can click in Metamask, Coinbase wallet .etc to upgrade your EOA. We should see more developments re making it easy to upgrade soon.

If you want to try out 7702 today, you can do so using the Metamask 7702 playground (linked in next tweet) or Ambire wallet

> Authorizations only last one transaction and then the wallet becomes a regular EOA again
You're confusing 7702 with the older 3074 proposal. The authorization lasts until the user revokes it.

Its been about 12 hours since EIP-7702 launched on Ethereum mainnet. In that time, there have been:

- 1,034 Authorizations ✨
- 308 Set Code Transactions ✨
- 29 Authorized Contracts ✨

Authorization => Upgrading an EOA wallet to a smart wallet by authorizing a contract. Depending on the contract, the smart wallet will have features like transaction batching.

Set Code => In this new type of transaction, EOAs are upgraded to smart wallets. A set code txn can contain multiple Authorizations

Authorized Contract => This is the contract whose code is used to upgrade the wallet. The upgraded wallet has a "delegation indicator" that points to this smart contract. When a transaction is sent to the EOA, it executes the code at the designated address.

We just hit 1,000 EIP-7702 Authorizations on Ethereum mainnet! 🥳🥳🥳

Authorization = Upgrading an EOA to a smart wallet by authorizing a contract. Depending on the contract, the smart wallet will have features like transaction batching.