Smart contract wallets are incredibly versatile and provide a much smoother user experience compared to their older key-based counterparts. When you download the Pillar Wallet, you are initially provided with a key-based wallet. The multichain wallets available can receive funds without being deployed but sending isn’t possible until deployment has occurred. You just need to deploy your smart wallets powered by Etherspot. On your first outgoing transaction (tx) on each chain, the app concludes smart wallet deployment to the blockchain and turns the key-based wallet provided into a smart contract wallet. This has to be done for each network eg: Ethereum, Polygon, Gnosis, BNB & Optimism
This process attracts a deployment network fee (not controlled by us but rather the network) to deploy the large amounts of data attached on-chain. In order to minimize fees, Pillar Wallet batches your first tx network fee with the smart contract deployment fee.
However, Pillar Wallet now auto-deploys and subsidizes the costs of deployment on Polygon & Gnosis Chain for all users. No cost to you!
Smart Wallet Deployment How To:
> Once you’ve downloaded Pillar Wallet, you will see your wallets listed. Any wallet that isn’t deployed has an “!” next to it. Polygon and Gnosis don’t have this warning because Pillar auto-deploys and pays the cost of deployment.
As you can see in this image, the BNB(Binance Smart Chain), Ethereum and Avalanche addresses aren’t deployed but they can still receive funds. The Polygon & Gnosis (xDai) wallets are auto-deployed and can be used normally straight away.
> In order to get your other wallets deployed, all you have to do is send 1 outgoing transaction on each chain you wish to deploy. Just send any amount to any other wallet or perform a swap / cross-chain swap in Pillar Wallet, for example – This will deploy your other wallet you’re transacting from. Pillar Wallet reduces the deployment fee by bundling the deployment fee and your first transaction gas fee too.
> Now the wallet that you sent / swapped tokens from is deployed and has become a smart contract wallet.
Well done, you’ve just deployed a smart contract on the blockchain!
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