Pimlico

🧵 1/5 Excited to announce that Magic Spend is now LIVE! Our new protocol enables balance abstraction—allowing accounts to spend tokens they don't yet have. It operates in two modes: Credit and ResourceLock. Follow this thread to learn more!

https://docs.pimlico.io/infra/magic-spend

2/5 With Credit mode, accounts can instantly borrow funds for transactions without holding the required tokens, eliminating the friction of pre-funding wallets. It simply uses the balance from your Pimlico dashboard.

Full-time builder. @pimlico | @33bits | @66bits | farcaster-solidity | x.com/potekhin_sergey. Zero-knowledge and asynchronous transactions evangelist.

3/5 Our ResourceLock mode supports multiple providers: Pimlico Lock, OneBalance resource lock, and The Compact (coming soon). This gives developers flexibility in how they secure resources for future transactions.

4/5 The magic of Magic Spend? You can build user operations as if funds are already available in the account. No more waiting for requests to be filled—just instant liquidity for a smoother Web3 experience. Technically speaking, the output of the protocol is signed calldata, which can be executed as the first call of the userop. This call will pull the funds to the smart account.

5/5 Magic Spend is now live on 4 testnets and 7 mainnets! Try it at https://magic.pimlico.io and check our docs at https://docs.pimlico.io/infra/magic-spend. We're excited to see what you build with it!

This is cool! But we created MagicSpend as a type of paymaster that can provide funds during execution. I think it’ll be confusing to use that name for other things? 

We worked with Socket on the Magic Spend++ idea, which feels like a slightly less confusing name to use, and I think is what this is?