Delegated wallets allow Ethereum Virtual Machine (EVM) compatible blockchains to use the same wallet in a parent-child wallet mapping structure for collection and withdrawals of assets across different blockchains and protocols on delegated wallet compatible EVM-like blockchains.
This feature allows a user to be provisioned a deposit address for collection of multiple assets on blockchains available on delegated wallets. It also helps reduce incidents of accidentally sending funds to the wrong blockchain due to similarities in addresses of EVM-compatible blockchains.
Delegated wallets are hybrid wallets that can be used for deposits and sending withdrawal requests using standard Mass Sender wallet configurations.
How does this benefit you?
-In addition to the 85% plus that our clients save on transaction fees using THRESH0LD MPC vs Multisig wallets, delegated wallets allow for extra mining fees cost savings by removing the need for an on-chain transaction to collect funds. Deposited assets at a deposit address are immediately available and can be used to process withdrawals.
-Tokens mistakenly sent to the same address on a different EVM compatible chain, are automatically detected on the intended chain. Hence, time is saved on using coin salvage feature to rebroadcast funds to the correct network.
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Supported Delegated wallet Chains