Accounts across all chains are abstracted, can be traded, and as a result, all dApps are multi-chain.
Tokenized Interchain Accounts are a new paradigm that tokenizes account ownership across multiple chains using IBC.
This journey began with an ambitious goal: to develop a CosmWasm implementation of ICS-27. I achieved this, creating a robust infrastructure that allows contracts on Injective to manage accounts on other chains, bypassing the need for deploying contracts on counterparty chain. This infrastructure overcomes the limitations of the existing Go implementation of ICS-27 in CosmWasm environments that make it unusable, unlocking new potential in cross-chain DeFi, such as:
At the application forefront, we introduce an NFT model that tokenizes multi-chain account ownership. This concept ushers in a new era for DeFi, allowing for accounts themselves to be a part of the DeFi ecosystem. Enabling use cases such as:
The project comprises three critical components:
The project's development was a meticulous process, beginning pre-hackathon with a basic cw-ica-controller
prototype. The hackathon's announcement spurred its evolution into a mature, production-ready infrastructure component, demanding rigorous testing and refinement over two months. This phase garnered attention from various blockchain entities.
An audit of cw-ica-controller
would be the next step if this project is selected as a winner.
The final month was dedicated to showcasing the infrastructure's capabilities through the cw-nft-ica
and nft-ica-ui
, demonstrating the practical applications of our innovations via a novel paradigm of NFTs that tokenizes account ownership across multiple chains.
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cw-ica-controller
can be a cornerstone for Injective. Historically, ICA has only been accessible to Go developers building their own chains (such as Stride, and Quicksilver), other attempts to implement ICA in CosmWasm through chain specific bindings (such as in Neutron) have been unsuccessful due to users not wanting to be vendor locked. Our implementation opens the door to CosmWasm developers, enabling them to create and control accounts on other chains. This infrastructure can be used in any way builders utilize including the benefits listed here:cw-nft-ica
is a proof of concept for a new paradigm that tokenizes account ownership across multiple chains. This new paradigm should be very attractive to the NFT and DeFi communities and should bring attention to Injective and differentiate the NFT marketplaces on Injective. This project can foster: