Product announcement: Safe

Transcript

foreign [Music] Lucas from safe to talk about what they've been up to and all the exciting product announcements that they're going to talk about today so for the next 10 minutes please give Lucas a big round of applause [Applause] all right can you all hear me okay yeah all right yeah super glad to be part of the very first iteration of if Global pragma and to share a little bit what we're up to at safe what's coming um

yeah maybe I'm gonna reference a lot a count up section next 10 minutes so just in case you haven't been on Twitter for the last six months shoot super short tldr um on ethereum there's basically two types of user accounts one is an externally owned account it's controlled by private key and essentially it's the account that you get when you use metamask for example and you write down your seat phrase and that's kind of how you control your account and another type of user account is smart accounts they're controlled through smart contract code and that makes them programmable and allows to add additional smart features to it like recovery by transactions gasless experiences and much more and like smart accounts is nothing new they've been

around since the Inception of ethereum but what is new is that we now have a standard erc4337 which is specifying some aspects of these smart contract accounts which allows to have a better composability in the ecosystem better to because it can make certain assumptions based on this this standard and we at safe have been using uh and building smart accounts for five years now primarily for our safe wallet product which allows to via Smart accounts have multi-signature functionality so that's uh useful for teams that coordinate around assets together because it can

have multiple private keys that control a single account and uh yeah but it's also quite handy for individuals that want to have extra security through multi-factor of authentication um yeah but interesting enough the safe protocols or the underlying smart account it's not limited to multi-seek like this is one feature but from the Inception of safe it is meant to be like a fully programmable account which via modules can be extended with additional functionality such as permissions roles automations and such and yeah I mean there's consensus in the ecosystem now that we're moving towards

smart smart accounts but what I would actually say we're already there because safe uh has been deploying or they are already more than 2 million uh safe smart accounts deployed making more than 9 million transactions securing more than 70 billion dollars worth of assets so interestingly enough uh safe is probably the the smart contract that is controlling the most or securing the most assets even before the uh like if Beacon uh chain deposit contract so I would say smart accounts are already here and distraction actually is not coming from the safe wallet product itself or only it's coming from an entire

ecosystem that has been built around the the safe smart account and is leveraging that the the programmability of it is building a wallet tooling applications and uh yeah using the safe smart account under the hood um and what we're doing now is we uh yeah we're announcing a new product line that is specifically targeting developers that want to use the save smart account we're calling it safe core and it makes it just easier for developers even though they've been already doing it but like to take advantage of of the safe protocol and it adds some additional features for kids that really just solve certain challenges that every developer building

on account abstraction is facing and just makes this easier to build account abstraction wallets to build tooling Etc on Save smart accounts so we have an off kit in there a non-ramp kit a relay kit and maybe just as a showcase what this enables uh one thing it can like the safe core SDK enables is web 2 like experiences but running on web free rails um so you probably all know that like onboarding to crypto is still quite challenging first off you start downloading metamask then you have to learn about Key Management you have to write down your seed phrase you're going to go to an exchange you will buy some crypto there you send it to your wallet

and then the the challenges only start because then you have to learn about gas and like what it means to speed up transactions and all of that and with safe core you can pretty much abstract that all the way from from the user because with the off kit which is integrating with web free off you can give the user MPC wallet which is controlling your safe smart account under the hood the user just logs in with with an email address they get like a magic link they log in with social login and they they don't even know that they have a wallet at this point but under the hood they have once the user then does the transaction on chain with the wallet they don't need to learn about gas this the dab can just sponsor

the transaction for the user and the user doesn't have to face that challenge and once the user wants to pay for something significant in the depth or maybe in the game they they can directly on-ramp via VIA credit card using the stripe integration of the on-ramp kit so no no need to go via an exchange to on-ramp funds to the account but that's just a few things that are enabled for safe core we also provide like a public API uh as like an indexing service to get some data around save smart accounts it allows for transaction batching and much more and importantly this is only the start

for safe core we're like expanding this over the next months with additional kits that's all for other challenges like recovery multi-chain and so on and we're very open to talk to anyone in the ecosystem that has ideas how to expand safe core other kits that we could provide and collaborate with you so that was safe core and now I have some somewhere announcements to make um the first one is we want to challenge a little bit the the current Paradigm of uh users paying for the transaction fees themselves because especially on layer twos and cheaper layer ones like the

additional friction for the user usually dapps or other parties are are quite happy to take that off the shoulders of users by just sponsoring the transactions because they they don't cost that much but the value for the debt or someone else might be much bigger to to get the the usage so we partnered up with withnosis chain and uh notice chain sponsors uh all safe based transactions for the next month and we're gonna check how this works and most likely it will be expanded beyond that and we will probably work with with other networks that are willing to participate in that program or adapts that want to sponsor transactions for the user so you have all transactions on on those exchange from today will be uh

will be free for a month including deployments of safes as well another cool thing we're working on is a collaboration with monarium where we want to get to a point where you can programmatically link a Fiat bank account number to your safe smart account so that means that you have sort of like a digital twin of your Fiat bank account that is a safe smart account and where you can then like receive Fiat and it immediately gets like added to your like converted into on-chain assets and you can trigger transactions from your wallet and it immediately triggers like an instant uh Fiat transactions off chain so that's going to be quite some

interesting things that can be built around this initially it's going to be launched in Europe only because monarium has like a license in Europe to do that but we will try to expand that beyond that as well and then finally the third announcement for today is that we just finished the the audit and the deployments of the next version of the save protocol so version 1.4 is now deployed and it includes full ERC 457 support so what I mentioned before this this new standard that is specifying some things around smart accounts now with 1.4 there's like full support in in safe smart accounts as well before there were some

challenges with the modular system that we had so this is now resolved as well so yeah not sure with the time um yeah so I would like to also showcase some things that are currently already built on on safe core uh one thing is Nest wallet which is a browser extension that is like the first multi-seek focused browser extension and it's really cool ux and it's uh yeah definitely check it out because they they have like email notifications included and you can have like transactions uh like ad memos to a transactions so your co-signers know uh what what the transaction is about and they really are very product focused

project and I'm a strong believer in in this wallet another one is AI artist what they've done with safe core is they they've built like an Instagram like application for AI generated art where the user actually owns the the nft versions of the AAR that they generate um but they they use safe core in a way that it feels really like a web tool like application so like easy onboarding gasless experiences and probably hard to even tell that there's like web free under the hood only when the user actually wants to have these nfts and maybe use them somewhere else or start selling them then they they figure out

the value of actually owning these digital assets um another interesting project is compass safe what they do is they take a safe but they add a permissions protocol around it so you can Define for uh for certain actions who can conduct these transactions so you could have like a treasury and they could then have like a treasury manager that's allowed to use the funds in a treasury but only interacting with certain smart contracts with certain assets and maybe during certain periods so that's quite an interesting project to check out as well then finally um a project called signless you safe

core and expanded to save smart account with session keys so you might have like a quite secure setup in your safe smart account which involves collecting multiple signatures from different keys but when you use a web fee game where you do multiple transactions in a short time it's really annoying to always go through that flow every time so the sign list allows to define a session key which is a ephemeral key having permissions to your account which lives locally in your your application and you just authorize it once and then you can use that key to sign transactions on your account um yeah many more projects that are currently being built and reach out if you're interested in a safe core we are

on a mission to unlock digital ownership and yeah if you're curious about the conducts action about safe core hit me up after the talk thank you [Applause] chair