N-Accounts

Composable and efficient leverage

An N-Account is an isolated smart contract which contains your initial funds + the borrowed funds. Essentially, all the leverage happens in your N-Account, like an automated DeFi wallet where you keep your positions and potentially program it the way you like.

Funds on the N-Account are used as a collateral for debt, where users can complete any actions with it: leveraged yield farming, margin trading, or even arbitraging.

Protection

The tokens and contracts that are selected to be able to interact with NillaConnect are chosen using NillaConnect's criterias. These criterias are put in place to protect our users from interacting with fraudulent and scam entities that may put our users or the protocol in danger.

Participants of the community may also propose tokens and contracts for the DAO, and if the proposal is passed, then we may add the token/protocol to the list.

These criterias can be voted on in the DAO.

Design & Reusability

N-Accounts have been designed with the consideration of gas efficiency and security, reducing the economic incentives for hacker attacks. Typically, utilizing isolated smart contracts comes with significant deployment costs for users and often create barriers to entry for newcomers. However, in NillaConnect, users have the option to "rent" pre-deployed N-Account contracts from the N-Account Factory, enabling them to reuse the contracts and return them when they are no longer needed.

When a user opens an N-Account, the protocol retrieves a pre-deployed N-Account smart contract from the Account Factory. Upon closing the N-Account, it is returned to the Account Factory for future reuse. In cases where the Account Factory has no pre-deployed contracts available, if a user opens a new N-Account, the protocol handles the deployment costs within the same transaction.