OneBalance: ResourceLocks

Transcript

I'm Stefan. Um, I am the co-founder and CEO of One Balance and I'm excited to talk to you about helping bring users on chain in one click. Um, a little bit about myself first. So uh previously to founding one balance I was co-founder chief architect at flashbots and we built out me infrastructure for Ethereum. Um and a lot of the lessons that I learned by building this kind of technical infrastructure for trading I've put into trying to solve the problem of building better applications for users. The thesis is pretty simple.

Um, I think that we stand sort of at a pivotal point in crypto where we've gone from having the majority of users be in centralized exchanges like Binance and Coinbase. Um, and mostly because it's easier to be there. It's easier for a user to understand. There's less complexity. There's less pain points. Um, but what we're seeing is more and more users have to come on chain. and for mostly a very simple reason which is the universe of tokens that you can trade onchain versus offchain is much bigger. Um we're seeing 14 million plus tokens being deployed onchain and traded on platforms like unis swap and pump and

that number is only growing every day and so centralized exchanges cannot keep up with listing all of these products and so more and more of them are trying to expose onchain liquidity to their users offchain. The same thing is happening with a lot of the tri players. So all the fintech apps are building out non-custodial wallets that allow their users to be able to trade onchain directly. Um and so yeah, there's this up curve and growth for stable coins, for the ability to buy any token, access any yield opportunities, and for payments that uh that we're helping resolve. The problem with it is that transacting onchain is completely broken UX. um it's really difficult for users to understand all the complexity of

things like bridging gas and even just the concept of chains which ones are safe which ones are not safe. So if you have a simple user goal like just buying the Pangu token um currently users have to ask themselves all these questions. Why do I have to wait so long for confirmations? Why can I not use USDC that's sitting on my wallet on Ethereum to buy something that's on Salana? Um how do these gas fees work? And why do I have to have a different token to be able to pay fees with? Um why do I need to set up all these different wallets just to be able to interact with the chain? And uh when is this going to actually become simple? Um and so we're we're sort of here to answer that question, allow anyone to build a web two like UX on uh

onchain. Um so what does it look like when you're able to interact in a fully chain abstracted way? Well, we sort of have a sample application here that's built on top of our uh of our client. And what it allows to do is give really the sort of e-commerce experience of browsing. And when it comes time to checkout, you don't have to worry with the whole stress of having a wallet and dealing with uh making sure that you have the correct amount of tokens and the right amount of gas to be able to pay for the transaction. the application can just directly implement our toolkit and expose their users to a checkout flow that they would be familiar with in any other uh any other web application.

And the really important thing to do is you know this is useful for anything that you want to do on chain. So you can buy any NFT, you can swap into any position and uh you can participate in things like per markets all on top of the same infrastructure. And so if you're a builder of an application that aims to be a super app of some kind and offer all of these product to your users, then you should work with someone like us to be able to make the UX at least 10 times better. What does that practically mean? Well, it means oneclick swaps yield per users without having to worry about chains, bridges, or gas. The traditional way that you've built applications in crypto is that you build directly on top

of the chain. And so you pick a chain that you're going to go build with. You decide, okay, what's the toolkit I'm going to build on top of? And then you develop everything from the ground up. And so it ends up being that you have to build a lot of the uh infrastructure yourself. And you're stuck to being on a specific chain. What we're doing is we're abstracting everything beneath us. And so all the chains that you want to interact with are just one API integration away. And then as a app developer you can just focus on the application on the user experience that you want to deliver without having to worry about the blockchain infrastructure behind it. Some of the features that uh that we have which I think are interesting for people that that want to get really deep into it. The main one is resource locks.

And so what resource locks offer is a crosschain experience that is strictly superior than everything else that you'll see on the market right now. So it has higher speed, lower cost and higher reliability than any bridge that you can use. Um and so for anyone that wants to have a seamless experience where they can transact on any chain in the matters of milliseconds uh they need to use uh resource locks and that's we're the only provider of that on the market at the moment. The other things that we we provide and and make a lot simpler are listed here. So UX things that uh don't exist really in crypto right now but are sort of mandatory pass keys uh social login just the ability to pay in any token for the execution that

you want to give and importantly more and more is seamless fiat crypto ramps and so I think that without building all of this in which is really difficult to build on your own um applications today start to struggle a lot more so yeah this is really the goal Right. For the user perspective, it should be a one-click experience. They click one button in 250 milliseconds. They get whatever action that they want to do on chain. There's no reversion. They don't need to worry about gas cost. And then behind the scenes, we have all the complexity that's abstracted away.

Um, and that's really the power of chaction. That's the power of interacting in one click. We've built our entire toolkit to be extremely modular. And so many applications today already work with some kind of embedded wallets whether it's privy or turnkey to be able to provide key management services. And so you can use those existing wallet architectures to plug directly into our system. And then we provide other things like aggregated balances, dynamic routing to always provide the best price and the resource socks that I mentioned earlier.

Many uh of these toolkits will claim to be offering multi-chain but they don't actually provide support for every chain. Oftent times they'll support a subset of EVM chains whereas we have native support for Bitcoin as well as native support for Salana while remaining completely non-custodial. And so you don't have to worry uh about a lot of the compliance uh issues that come when you're running a a custodial service. What's that's a big differentiator for us is to be the first to support new chains. And if you're building a new chain and you're looking to plug into our system, please please reach out so we can uh we can help connect you to our network of integrations. The really thing that I want to leave everyone with is that

crypto isn't niche anymore and so expecting users to hop through really difficult UX loops to be able to get on chain just isn't possible. and building in a centralized fashion is just no longer possible either because you don't have the ability to expose your users to the same investment universe of assets as the non-custodial products. And so we're at this point in time where there's so much more demand for going onchain and there's very little there very few people that know how to do it in uh in a good UX. I I would encourage you guys to take a look at the fellowship of one balance which is all the integration partners that we have all the companies that build on top of our uh on on our stack and on our vision. Um and come talk to

us if you're looking to upgrade the experience that you want to provide to your users. Thank you.