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Key Concepts

Authentication and Authorization​

The EVC handles authentication while vaults manage authorization. When integrating with the EVC, it's important to understand this separation of concerns:

  • The EVC verifies that requests come from authorized users or contracts
  • Vaults determine if the authenticated user has sufficient permissions or balances for the requested operation

Account Management​

The EVC provides each Ethereum address with 256 virtual accounts which allow a user to maintain multiple isolated positions within a single wallet. When integrating with the EVC, you can leverage these virtual accounts to:

  • Build multiple borrowing positions (because each account can have at most one open borrow position)
  • Isolate different trading strategies
  • Manage risk across different positions

Batch Operations​

One of the EVC's core features is the ability to batch multiple operations into a single transaction. This enables:

  • Efficient position building
  • Complex trading strategies
  • Gas optimization for users

Operators​

Operators are a powerful feature that extends beyond traditional token approvals. An operator is a contract or EOA that can act on behalf of a specified account. When enabled, operators can interact with vaults (i.e. withdraw/borrow funds) and perform other account operations on the EVC-aware contracts on behalf of the account that enabled them.

Common use cases for operators include:

  • Stop-loss/take-profit position modifiers
  • Trailing stop orders
  • Position management automation
  • Keeper-based custom liquidation strategies

For more detailed information, see the EVC dedicated website.