🗂️Account Management

Account Management

Understanding Accounts

Kwenta's Smart Margin v3 (SMv3) has transitioned from traditional SM accounts to a novel system where accounts are NFTs. These NFTs are created and minted through the Synthetix protocol, acting as a tokenized form of authentication. Possessing one of these accounts is essential for participating in Synthetix Perps v3 markets and engaging with Kwenta's SMv3 system.

Creating a Synthetix v3 Account

To create an account, users must interact directly with Synthetix's Perps v3 market proxy. This process is outlined here. Once an account is created, users are required to assign administrative privileges to Kwenta's Engine, enabling enhanced trading functionalities.

Further details about the Synthetix mechanism are available in their documentation.

Role in SMv3

SMv3 operates on an account-based permission structure. This system is integral for both the initial configuration and subsequent delegation processes.

Additional Advantages

A significant feature of this new system is that users retain exclusive control over their account NFTs. They have the liberty to revoke permissions granted to the SMv3 engine at any point. This approach to account ownership, distinct from previous SM models, enhances decentralization, aligning with Kwenta's commitment to higher standards of decentralization.