Chain-abstracted Smart Accounts -- How to Build Amazing Web3 UX in 2024 by Derek Chiang | Devcon SEA

[Music] hey guys all right so hi everyone um so my name is Derek I'm the founder of zero death so today today I want to talk to you about this New Concept called train abstracted smart accounts um so very simply a CH objective smart account is a new type of account that changes how we think about web 3 so with a normal smart account you know as you can see here we have what we call a CH Centric point of view right so with a normal accounts you think about your assets in terms of different chain so you might have for example 500 usdc on base 300 usdc on polygon and 200 usdc and 200 usdc on E theorem but with a train abstractive smart account you can afford to have a what we call a asset Cent point of view right so now you can just think oh I have one I have 1,000 usdc in my wallet and it doesn't actually matter which underlying blockchains your tokens are are actually on right as far as you are concerned you own 1,000 usdc and you can spend them instantly on any blockchain so that's why chain objective smart accounts is better than than than a normal accounts so let me tell you about how how chain abstractive smart accounts actually work so very simply a chain abstractive smart account is simply the combination of two technologies smart accounts and intents so let's first think about how intents work right uh let's use a you know the most popular intense Bridge which is a cross as an example so here's how a cross Works in order to bridge in this case you know say 5050 usdc from base to polygon the first thing you do when you use a cross is that you send 50 usdc from your account into a vault right and then the second step the server there's going to be a intend server on the other s side that transfers 50 usdc to your account on the other side and finally they reclaim the 50 usdc on base through some kind through some kind of cross Trend proof showing that they did send you 50 usdc and not that like the reason why we need the vote here is because without first moving the votes in uh you know without first first moving the tokens into the vots the user can very easily scam the server by taking their money away after the server paid for them on the other chain right so that's why it's important for the for the account to First lck the tokens into a vote uh before the server can send them the tokens on the other side right so this is how intense work so now let's think about how we can add smart accounts into the mix to enable chain AB smart account accounts so again you know it's the same flow so you first lock the funds into a vot but here when your smart account like when your account is a smart account which means that it's a smart contract the server can do something a little different which is that instead of just sending you 50 usdc the server can actually make a call to your account which is now a smart contract with the 50 usdc and then your your smart account can interact with whatever application right so this 2 a and 2 B here like these two steps are actually one single transactions and this is only possible because your account is now a smart contract so the solver calls you and then you call the dep so now we have you know move from a system in which we can only do transfer you know which is the normal intend Bridges to a system where we can do executions meaning that your smart accounts can now interacts with arbitrary applications and the huge benefit here is that this is guest list right like this is guest list on the on the destination chain because the transaction was submitted by the solver so your account actually doesn't need any e right so from your account's perspective it was able to interact with the application without holding any e and you are just spending usdc so this gives you gas list transaction on the on the destination chain but this system is still not perfect because uh if you look at the source chain you see that you are still like to you know to actually execute the trans action on the target chain you still have to first send a transaction on the source chain right you know so you still have to hold the gas here so that's why you know we can actually also have the solver work for you on the source chain as well right so again it's basically the same as the last flow except that in the first step instead of having your smart account uh transferring usdc to the Vault directly here the first step is to have the solver call your smart accounts to trigger the transfer to the Vault right so again because the transaction was originated by the solver your smart account actually doesn't need to hold any e right uh you know and again this is only possible because your smart your smart account is a smart contract they can accept cost so your smart account will transfer the funds to the vaults you know which then triggers the transaction on the other s to interact with the application so let's recap what we have achieved here you now have like one single Unified balance across all the chains that can be spent on on on any chain right like like any tokens you own on any chain can be spent on any chain and we have achieved gas list transactions uh in the sense that for example here you literally need to own nothing except usdc in your accounts to perform this transaction right because like all the guas on both the source train and Target chain are handled by the solver and the user never interacted with the bridge uh manually right from the users perspective they are just sending a transaction uh you know and then like the bridging is is handled by the server under the hoods so that was just like the tip of the the tip of the iceberg as as far as like how TR abstractive smart accounts work especially like with the next ethereum upgrade pectrum you know like when uh you know with EIP 7702 all the existing wallets such as metamask will be able to be upgraded to Smart accounts so that's when you know this huge issue of to fragmentation today you know this huge ux issue of like having to bridge your tokens all like all over the place um will be solved through CH AB smart accounts so today you know like you know we already offer you know you know a early solution in beta you know so if you want to check out how to improve ux you know through CH SM accounts feel free to check out Zer def thank you thanks Derek all right we have time for questions now yes you've been so great about coming up with questions so far all right whoever catches it is GNA ask ask the question and here you go you are ready H maybe some basic question the solers uh kind of approve it to move funds from your accounts right sorry could you could you repeat a question so the solver is preapproved to move funds from your account okay so so so so let me be let me be very clear um are there several solvers approve it to do this only once over okay so iess I guess I can't see my slides anymore you know but but basically one thing I'm I'm I have skipped over for Simplicity is that the very first thing that the user do is to sign an intent right so user has to sign a message first right so that intent is fundamentally what's authorizing the solver to move the tokens on your behalf right so you sign intent and then when the solver calls your smart accounts they include the sign intent and that's why your smart account will allow them to move the tokens for you does that does it make sense maybe you can discuss this more after the talk yeah um I have question so would us be able to what say I have a $50 CH a $50 CH B I want to buy something with $100 on TR C can it work oh for sure yeah if you think about the flow right um yeah you know like so so in that case the solver would just like give you 50 usdc on the destination chin and then you will be spending 100 usdc in total on the destination CH yeah all right that's all the time we have for questions this time but again thanks Derek for the wonderful talk let's give it up for Derek lovely