What is Smart Margin
Like previous versions of Smart Margin, SMv3 aims to enhance the trading experience for Kwenta users by offering improved tools for trading Synthetix derivatives.
SMv3 replaces the previous SM account proxy solution with a unified "Engine" contract, which centrally manages collateral, async orders, and conditional orders. Future features will also be integrated into this same contract.
With the introduction of an account-based architecture in Synthetix v3, we've significantly reduced the logic required for secure user authentication. This simplifies how trader calls are routed from SMv3 to Synthetix v3.
Users must set up Synthetix v3 accounts directly through the Synthetix proxy. Those with existing accounts can also "register" with Kwenta's Engine by granting it admin permissions, which can be revoked later if necessary.