Going further #3: Abstract Global Wallet

Overview of Abstract native wallet system

Context

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The current crypto experience is fragmented. Separate browser extensions, non-transparent signatures, and a reliance on seed phrases create confusion and significant security risks for user assets.

Abstract did dozens of research studies with non-crypto users to better understand today's onboarding flows and app usage patterns. They saw fragmentation, confusing UX, and opaque transaction flows.

Current state of wallet UX (source: https://x.com/AbstractChain/status/1828878212119576599)

In order to solve those issues, Abstract introduced its native wallet system: Abstract Global Wallet (ABW).

What is the AGW ?

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"No seed phrases, no extensions—just seamless onchain interaction." - Abstract

The Abstract Global Wallet (AGW) is an easily integrable, cohesive, and secure wallet system.

At its core, AGW make use of several Account Abstraction features to make user experiences better, like creating a wallet via email, socials, or passkeys, funding it in seconds, and using it across apps with one-click logins.

Abstract Global Wallet UX (source: https://x.com/AbstractChain/status/1828878205874516006)

How does it work ?

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To begin with, AGW is comprised of two key components:

1 - Embedded wallet signer

Initially, users onboard into an embedded wallet powered by @privy_io. This part can be broken down into 3 steps:

1. Login via socials, email, passkeys, or even existing EOAs.

2. Behind the scene, an EOA (public/private key pair) account is created and is linked to their login method(s).

3. The private key is split into 3 shards, stored on : - The device you create the wallet with - With Privy (tied to your original login method - Your choice of recovery mechanism, e.g. iCloud

Moreover, 2 out of 3 of these shards are needed to access the EOA. This means :

• If you lose your original device, you can still recover the key.

• If Privy goes down, you can still recover the key.

• If your social account is hacked, they only have 1 shard (can't access the key).

• You can easily access your wallet across multiple devices.

Once this process is complete, a smart contract wallet is deployed

2 - Smart contract wallet

The smart contract wallet is based on @getclave's wallet implementation.

Indeed, as the contract is deployed, the public key of your embedded wallet is set as a signer of the smart contract wallet.

A signer : account that is approved to make transactions on the smart contract account. At deployment time, the embedded wallet is set as the only signer.

Furthermore, the smart contract code supports storing multiple signers, thus, you can add multiple existing EOAs as approved signers or even passkey-based signers on your AGW account if you choose to.

In addition to that, smart contract wallets can add "modules" to add new features, such as:

• Recovery Modules

• Paymaster Support

• Multiple Signers

• P256/secp256r1 Support

• Spending limits

• Session Keys

Key components of AGW (source: https://x.com/jarrodWattsDev/status/1829012326139474399)

Finally, AGW leverages several features from Abstract NAA protocol:

• Paymasters for gas sponsorship

• Flexible transaction validation for transparent signatures

• No reliance on third party vendors for AA infra

• Extremely cheap proxy contract deployments

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Sources

https://docs.abs.xyz/how-abstract-works/native-account-abstraction/overview https://x.com/AbstractChain/status/1828878205874516006 https://x.com/0xCygaar/status/1828897082314260689 https://x.com/jarrodWattsDev/status/1829012316366745926