Recovery and fraud detection for Multi-sigs by adding a 3rd party gaurdian as a co-signer
A Smarter Approach to Self-Custody: Integrating 3rd Party Co-signers for Improved Wallet Recovery, Fraud Detection, and Insurance in Multi-sigs and Smart Contract Wallets.
This is inspired by the hybrid custody solution, mentioned by SAFE team in this blogpost
1. SAFE Core SDK - It was used to add gaurdians, sign + fetch transactions, and show the current state of SAFE 2. Gelato Network - Used to enable paymaster and initiate transactions
Full self-custody is perceived as unsafe and inefficient by users.
1. Cumbersome key management - Users lack a convenient method for storing private keys in the form of 12/24-word phrases. 2. ’Heart attack’ - Users feel unsafe transacting on different dApps. 3. Subpar experience - UX deteriorates when using multi-sig.
We enable users to appoint trusted 3rd party Guardians as co-signers in their multi-sig wallets.
Take a peek at our demo to see what we've built:
STEPS
First step is to setup up your current SAFE account with us:
Demo transaction:
Through this approach, we offer users a range of key benefits including:
Upon adoption of our core features, we will explore the following:
Preserving the essential advantages of self-custody - such as censorship resistance, no lock-ins, and composability - our platform presents a solution to the challenges faced by exisiting self-custodial wallet users.
###Target Customers
Immediate target customers:
Future expansion of target users: