IOTA’s DeFi Reach Grows as Rabby Wallet Integrates IOTA EVM

A Web3 wallet by DeBank, Rabby, has announced the integration of IOTA EVM to enhance the multi-chain Decentralized Finance (DeFi) experience. According to the report, the integration would enable users to have optimized benefits by switching between chains while using the DeFi applications simultaneously on multi-chain.

As observed by Crypto News Flash, the wallet automatically selects the appropriate blockchain network for each DeFi dApp based on its database. In this case, the need for users to manually switch networks during interaction with different chains is eliminated. On top of this, Rabby has been designed to simplify DeFi transactions through the confirmation of a pop-up window that provides a detailed explanation of each transfer. Compared to other Web3 wallets, this is a huge improvement as it helps users navigate through the complexities of smart contract executions.

One interesting feature integrated into the wallet is pre-transaction risk scanning. According to the firm, the security engine is meant to scan transactions for potential risks before users encounter them. Specifically, it notifies users of vulnerabilities such as interaction with a previously attacked contract or a non-existing recipient.

Lastly, Rabby provides a seamless integration with several hardware wallets which include Ledger, Trezor, and Keystore. It also offers integration with institutional and custodians such as Fireblocks and Gnosis Safe, and mobile wallets like Phantom, Metamask, Trust Wallet, and Wallet Connect.