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Top 5 Account Abstraction Wallets

Karolina

08 Dec 2023
Top 5 Account Abstraction Wallets

Blockchain technology has continuously evolved, introducing new paradigms that enhance user experience and security. Among these innovations, Account Abstraction Wallets have gained prominence for their unique approach to managing blockchain interactions. These wallets blur the traditional lines between contract and Externally Owned Accounts (EOAs), offering a unified and simplified interface. This approach not only streamlines transactions but also opens up new possibilities for smart contract integration, enhancing both functionality and security.

In this article, we will delve into the top five Account Abstraction Wallets. Our selection criteria focus on security features, ease of use, integration capabilities, and the innovative use of smart contracts to provide a seamless user experience. Whether you are a blockchain enthusiast, a developer, or someone curious about the future of digital wallets, this guide will provide valuable insights into the cutting-edge of wallet technology.

Join us as we explore these top-tier Account Abstraction Wallets, each offering unique features that set them apart in the blockchain ecosystem.

Table of Contents

1. Argent - TOP 5 Account Abstraction Wallets

Argent stands out as a trailblazer in the domain of smart contract wallets, particularly appealing to those new to the cryptocurrency scene. This France-based company has been at the forefront of account abstraction initiatives since 2017-2018, working alongside other pioneers like Safe and Ambire. Its focus on Layer 2 solutions places it at the cutting edge of blockchain technology.

Source: Argent

Key Features

  • User-Friendly Interface for Newcomers. Argent is designed to be approachable and easy to use, making it an ideal choice for individuals who are just beginning their journey into the world of cryptocurrency.
  • Layer 2 Specialization. With its deployment on the Ethereum Mainnet and Layer 2 platforms such as zkSync and StarkNet, Argent is well-positioned to handle high-speed and cost-efficient transactions, which is integral for the future of Web3 operations.
  • Advanced Smart Account Capabilities:
    • Social Recovery System. A unique feature that allows users to recover their accounts through trusted contacts, enhancing security without compromising convenience.
    • Multi-Signature Support. Offers added security for transactions, requiring multiple approvals for added peace of mind.
    • Fee Payments in Stablecoins. Users can pay transaction fees in stablecoins, ensuring stability and predictability in transaction costs.
    • High-Speed Batch Transactions. Argent supports multicall or batch transactions, allowing users to execute multiple operations swiftly and efficiently.

Design and Accessibility

  • Aesthetically Pleasing and Secure Self-Custody. The wallet's design is not only visually appealing but also emphasizes user-friendly self-custody, ensuring users have full control over their assets.
  • Mobile-First Approach. Available on both iOS and Android, Argent prioritizes mobile users, providing a seamless experience for managing digital assets on the go.
  • Argent X for Browser Users. For those preferring browser wallets, Argent X offers a robust solution for navigating and operating on the StarkNet platform.

2. Avocado - TOP 5 Account Abstraction Wallets

Avocado, created by Instadapp, is a smart contract wallet that revolutionizes the way users interact with multiple blockchain networks. Launched in March 2023, Avocado is a relatively new entrant in the field, but it's quickly gaining attention for its innovative approach to decentralized finance (DeFi) transactions.

Source: InstaApp

Key Features

  • Multi-Network Transactions on a Single Network. Avocado uniquely allows users to perform transactions across multiple networks while remaining connected to just one, removing the hassle of switching between different blockchains.
  • Deterministic Smart Contract. Each wallet is algorithmically linked to the user's address, offering a non-custodial and secure way to manage assets. This deterministic approach ensures consistency and security in transactions.
  • Network Abstraction. Displays all balances from various networks in a single, unified interface, providing a holistic view of a user's assets.
  • Gas Abstraction with USDC. Simplifies the payment of transaction fees by using USDC as the native gas token, ensuring predictability and stability in transaction costs.
  • Account Abstraction for Enhanced Functionality. Avocado supports modularity in design, which is beneficial for various use cases, including assigning authority roles, implementing recovery mechanisms, and bolstering security.

Unique Selling Points

  • Consistent Address Across Chains. With Avocado, users maintain the same address on all chains, significantly reducing the complexity and potential errors associated with managing multiple addresses.
  • Integration with Instadapp's DeFi Platform. As a product of Instadapp, a platform that connects protocols and decentralized applications (dApps) on the Ethereum Virtual Machine (EVM), Avocado seamlessly integrates with various DeFi protocols, functioning like a blockchain aggregator.

Limitations and Future Potential

  • Current Limitation on Transaction Fees. As of now, transaction fees on Avocado are exclusively paid in USDC, which may limit some use cases. However, the underlying technology holds the potential for future expansions and more diverse options.

Accessibility

  • Decentralized Web Application. Available as a dApp, Avocado can be accessed both on desktop and mobile, catering to a wide range of users.

3. Ambire Wallet - TOP 5 Account Abstraction Wallets

Ambire Wallet, launched in late 2021, has quickly established itself as a formidable player in the realm of account abstraction wallets. Originating as a pivot from the AdEx Network, a blockchain advertising solution, this Estonia-based company combines a user-centric approach with sophisticated technology.

Source: Ambire

Key Features

  • Advanced Functionalities from the Start. Ambire Wallet was designed to include features like batch transactions, multi-signature capabilities, and the option to pay fees in stablecoins across various blockchain networks.
  • User-Friendly Interface with High-Security Levels. The wallet is tailored to be accessible for newcomers while offering the complexity and security that seasoned crypto enthusiasts demand.
  • Innovative Gas Fee-Saving Mechanisms. Ambire introduced the Gas Tank feature, which allows users to save on transaction fees and choose their preferred token for payment.

Unique Selling Points

  • First to Offer Email & Password Sign-Up. Ambire Wallet was the first self-custodial wallet to implement an email and password sign-up process, effectively blending Web3 technology with Web2 user experience best practices.
  • A Versatile Tool for All Users. The wallet's design is intuitive and informative, making it suitable for both crypto beginners and experienced traders, or 'whales'.
  • Advanced DeFi Features. Ambire Wallet includes an in-built bridge, functionalities to earn and swap, as well as a comprehensive dApp Catalog, catering to diverse needs within the DeFi ecosystem.

Compatibility and Future Plans

  • Support for Multiple EVM Chains: The wallet currently supports over 10 Ethereum Virtual Machine (EVM) chains, both Layer 1 and Layer 2, with plans to expand further.

4. Sequence - TOP 5 Account Abstraction Wallets

Sequence Wallet, launched by Horizon in late 2022, has rapidly carved a niche for itself in the Account Abstraction Wallet landscape. Initially envisioned as a FinOps solution for business-to-business (B2B) applications, Sequence has expanded its horizons to appeal to a broader consumer base.

Source: Sequence

Evolution and Key Features

  • From B2B FinOps to Broad Consumer Appeal. While it began with a focus on B2B financial operations, Sequence has adeptly incorporated a range of best practices and innovations in account abstraction, making it a versatile tool for individual consumers.
  • Seamless Web3 Experience. Echoing the goals of wallets like Ambire, Sequence is dedicated to providing an intuitive and seamless Web3 experience, backed by a sophisticated tech stack functioning across multiple blockchain networks.

Gaming-Oriented Features

  • Gaming DNA of Horizon. The wallet’s development under Horizon, known for its gaming background, is evident in the features tailored for the Web3 gaming community.
  • Ideal for Gamers. Sequence excels as a gamer-friendly wallet, offering capabilities such as swift fund transfers between games, support for game-specific tokens, and an integrated chat system, enhancing the gaming experience in the Web3 space.

Accessibility and User Interface

  • Web Application for Desktop and Mobile. Sequence is accessible as a web app, ensuring users can manage their digital assets and engage with Web3 applications conveniently on both desktop and mobile devices.

5. Safe - TOP 5 Account Abstraction Wallets

Safe, originally known as Gnosis Safe before gaining independence and rebranding in 2022, is one of the oldest and most trusted smart contract wallets in the Ethereum ecosystem. With roots in the German tech sector, Safe has established itself as a leader in secure asset management and ownership standards.

Source: Safe

Key Features and Evolution

  • Focus on Security and Superior Ownership Standards. Safe's primary objective has always been to fortify the custody protocol, ensuring the highest levels of security for its users.
  • Prominence in Collaborative Asset Management. The wallet is especially favored by Decentralized Autonomous Organizations (DAOs) and collaborative platforms, owing to its robust solutions for collective asset management.
  • Advanced Account Abstraction Features:
    • Multi-Signature Options: Offers enhanced security measures for asset management.
    • Transaction Simulations: Allows users to preview the outcomes of their transactions before finalizing them.
    • Internal App Store: Provides a platform for users to explore and interact with various Web3 applications.

Unique Selling Points

  • Largest Share of On-Chain Funds. As of the end of 2022, Safe held the largest share of on-chain funds in the crypto wallet space, a testament to its reliability and popularity.
  • Support for Multiple EVM Chains. Safe is compatible with more than 12 Ethereum Virtual Machine (EVM) chains, ensuring broad usability across the blockchain ecosystem.

User Experience

  • Complex Interface for Advanced Users: Unlike other wallets, Safe does not prioritize streamlining user experiences or simplifying onboarding. Its interface, while comprehensive, may be challenging for newcomers to the crypto world.

Accessibility

  • Mobile and Web Applications: Safe is accessible as both a mobile app for Android and iOS users and as a web application, catering to a diverse range of users.

Conclusion

In the dynamic world of blockchain technology, Account Abstraction Wallets like Argent, Avocado, Ambire, Sequence, and Safe are at the forefront, each offering distinct features to cater to various user needs. From enhancing user experience for newcomers to prioritizing security for advanced users, these wallets are integral in driving the adoption and evolution of cryptocurrency management. As the blockchain landscape continues to evolve, these innovative wallets are paving the way towards a more accessible and secure digital future.

Tagi

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Aethir Tokenomics – Case Study

Kajetan Olas

22 Nov 2024
Aethir Tokenomics – Case Study

Authors of the contents are not affiliated to the reviewed project in any way and none of the information presented should be taken as financial advice.

In this article we analyze tokenomics of Aethir - a project providing on-demand cloud compute resources for the AI, Gaming, and virtualized compute sectors.
Aethir aims to aggregate enterprise-grade GPUs from multiple providers into a DePIN (Decentralized Physical Infrastructure Network). Its competitive edge comes from utlizing the GPUs for very specific use-cases, such as low-latency rendering for online games.
Due to decentralized nature of its infrastructure Aethir can meet the demands of online-gaming in any region. This is especially important for some gamer-abundant regions in Asia with underdeveloped cloud infrastructure that causes high latency ("lags").
We will analyze Aethir's tokenomics, give our opinion on what was done well, and provide specific recommendations on how to improve it.

Evaluation Summary

Aethir Tokenomics Structure

The total supply of ATH tokens is capped at 42 billion ATH. This fixed cap provides a predictable supply environment, and the complete emissions schedule is listed here. As of November 2024 there are approximately 5.2 Billion ATH in circulation. In a year from now (November 2025), the circulating supply will almost triple, and will amount to approximately 15 Billion ATH. By November 2028, today's circulating supply will be diluted by around 86%.

From an investor standpoint the rational decision would be to stake their tokens and hope for rewards that will balance the inflation. Currently the estimated APR for 3-year staking is 195% and for 4-year staking APR is 261%. The rewards are paid out weekly. Furthermore, stakers can expect to get additional rewards from partnered AI projects.

Staking Incentives

Rewards are calculated based on the staking duration and staked amount. These factors are equally important and they linearly influence weekly rewards. This means that someone who stakes 100 ATH for 2 weeks will have the same weekly rewards as someone who stakes 200 ATH for 1 week. This mechanism greatly emphasizes long-term holding. That's because holding a token makes sense only if you go for long-term staking. E.g. a whale staking $200k with 1 week lockup. will have the same weekly rewards as person staking $1k with 4 year lockup. Furthermore the ATH staking rewards are fixed and divided among stakers. Therefore Increase of user base is likely to come with decrease in rewards.
We believe the main weak-point of Aethirs staking is the lack of equivalency between rewards paid out to the users and value generated for the protocol as a result of staking.

Token Distribution

The token distribution of $ATH is well designed and comes with long vesting time-frames. 18-month cliff and 36-moths subsequent linear vesting is applied to team's allocation. This is higher than industry standard and is a sign of long-term commitment.

  • Checkers and Compute Providers: 50%
  • Ecosystem: 15%
  • Team: 12.5%
  • Investors: 11.5%
  • Airdrop: 6%
  • Advisors: 5%

Aethir's airdrop is divided into 3 phases to ensure that only loyal users get rewarded. This mechanism is very-well thought and we rate it highly. It fosters high community engagement within the first months of the project and sets the ground for potentially giving more-control to the DAO.

Governance and Community-Led Development

Aethir’s governance model promotes community-led decision-making in a very practical way. Instead of rushing with creation of a DAO for PR and marketing purposes Aethir is trying to make it the right way. They support projects building on their infrastructure and regularly share updates with their community in the most professional manner.

We believe Aethir would benefit from implementing reputation boosted voting. An example of such system is described here. The core assumption is to abandon the simplistic: 1 token = 1 vote and go towards: Votes = tokens * reputation_based_multiplication_factor.

In the attached example, reputation_based_multiplication_factor rises exponentially with the number of standard deviations above norm, with regard to user's rating. For compute compute providers at Aethir, user's rating could be replaced by provider's uptime.

Perspectives for the future

While it's important to analyze aspects such as supply-side tokenomics, or governance, we must keep in mind that 95% of project's success depends on demand-side. In this regard the outlook for Aethir may be very bright. The project declares $36M annual reccuring revenue. Revenue like this is very rare in the web3 space. Many projects are not able to generate any revenue after succesfull ICO event, due to lack fo product-market-fit.

If you're looking to create a robust tokenomics model and go through institutional-grade testing please reach out to contact@nextrope.com. Our team is ready to help you with the token engineering process and ensure your project’s resilience in the long term.

Tagi

Nextrope Partners with Hacken to Enhance Blockchain Security

Miłosz

21 Nov 2024
Nextrope Partners with Hacken to Enhance Blockchain Security
Location: Gdynia, Poland
Date: November 12, 2024

Nextrope announces a strategic partnership with Hacken, a renowned blockchain security auditor. It marks a significant step in delivering reliable decentralized solutions. After several successful collaborations resulting in flawless smart contract audits, the alliance solidifies the synergy between Nextrope's innovative blockchain development and Hacken's top-tier security auditing services. Together, we aim to set new benchmarks, ensuring that security is an integral part of blockchain technology.

Strengthening Blockchain Security

The partnership aims to fortify the security protocols within blockchain ecosystems. By integrating Hacken's comprehensive security audits with Nextrope's cutting-edge blockchain solutions, we are poised to offer unparalleled security features in our projects.

"Blockchain security should never be an afterthought"

"Our partnership with Hacken underscores our dedication to embedding security at the core of our blockchain solutions. Together, we're building a safer future for the industry."

said Mateusz Mach, CEO of Nextrope

About Nextrope

Nextrope is a forward-thinking blockchain development house specializing in creating innovative solutions for businesses worldwide. With a team of experienced developers and blockchain experts, Nextrope delivers high-quality, scalable, and secure blockchain applications tailored to meet the unique needs of each client.

About Hacken

Hacken is a leading blockchain security auditor known for its rigorous smart contract audits and security assessments. With a mission to make the industry safer, Hacken provides complex security services that help companies identify and mitigate vulnerabilities in their applications.

Looking Ahead

As a joint mission, both Nextrope and Hacken are committed to continuous innovation. We look forward to the exciting opportunities this partnership will bring and are eager to implement a more secure blockchain environment for all.

For more information, please contact:

Nextrope

Hacken

Join us on our journey to deliver top-notch blockchain tech and a safer future for the industry!

Tagi