RIF Enveloping has been designed to drive down
the barriers to defi adoption, making it easier for
new users to make their first transactions and
familiarize themselves with the tools and services
that are integral to decentralized finance.
RIF Enveloping is a major milestone developed by
the RSK ecosystem to simplify the UX on DEFI for
Bitcoin that makes user onboarding and operations
easier by removing the need to get blockchain native
currency (RBTC in RSK) to operate, allowing users to
work only with the tokens they prefer.
By default, blockchains require users to pay a fee to send tokens,
which is denominated in the native currency such as ETH on
Ethereum or RBTC on RSK. This presents a barrier to new users,
who must first purchase the native asset and then send it to their
wallet before they can begin interacting. RIF Enveloping solves this
problem by using Smart Wallets that allow any smart contract to
support meta-transactions, enabling third parties to pay (or even
subsidize) the fee on behalf of the end user.
Applications for the technology include wallet and dApp
developers interested in covering the cost of new users
making their first decentralized finance interactions.