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2024-07-18

· 2 min read
Naman Kumar
Naman Kumar
Product Manager

Note: the first part of the call was lost. The video posted above captures the second half of the call where various ecosystem developers shared their use cases and needs for a smart wallet on Stellar.

  1. Tyler put forward a proposal for a smart wallet as a public good. Given that the native auth can be overloaded by using __check_auth, Stellar implementation of a smart wallet is fairly straightforward. The capability to customize the auth is already built into the core protocol.
  2. See the proposal here and implementation here
  3. The proposal only uses WebAuthN-based signers i.e. passkeys. It does not use ed25519, which, perhaps it should given that ~100% of the accounts on Stellar use the scheme. It also introduces the notion of temporary and admin signers to illustrate the notion that the account can be managed by multiple signers, each with a different access policy.
  4. The biggest unlock with custom auth is the ability to execute custom logic. We heard from various ecosystem members about how might they us it. 4a. A dev is building a perpetual protocol and thought smart wallets could be used to automatically manage defi positions, which would be a significant improvement over status quo where the user has to constantly track assets to determine when to execute a trade. 4b. Folks are excited about foregoing the seed phrase for passkeys, which is especially meaningful when onboarding net new users to the blockchain. 4c. Authorizing a cross-chain message from a different chain, especially programmatic authorization, requires an implementation of custom accounts. 4d. Some apps have noted that users prefer not to have a wallet but simply experience the value of the app, especially games. For this, the app may assign a temprory account to the user and control access via check_auth. 4c. Microtransactions without needing user sign is super interesting for apps as well.
  5. This has been a very insightful meeting and we learnt about how the Stellar ecosystem plans to leverage smart wallet. Let's continue the conversation in discord!