Orchestration: The Missing Layer Enabling 1-Click Ethereum

Transcript

Yeah. All right. Um, welcome everyone. Thank you so much um for for coming. It's apparently early morning, so thank you so much for for coming along. And I never knew there was also some introductory music as well. Um, which is which is great. Very can vibe. Um so yeah my name is Ahmed I'm one of the co-founders at Bconomy and uh today I'll be talking about orchestration and uh yeah why it's you know the missing layer for um oneclick Ethereum. Um so let's start off. So really the first question and I just want to sort of jump into it is what if Ethereum what if Ethereum felt you know something like this where

I could just you know connect my wallet I see some USDC that I have some USDC and I want to earn um some yield on it and why can't I just do it like in one click so here as a user let me just go back a bit um I you know have a position up I I have some USDC on arbitrum there's a small for all on base. Um and the balance well the I I need to supply W and um here I'm trying to sort of like supply 6 USDC. I go ahead and sign it and essentially what happens in the background is the full orchestration flow of how the 6 USDC will end up as W um uh to the morpho pool on base. Um so

I started off um from USDC on arbitum ended up on a on um on a pool on base with W and that's yielding um 8%. And um I'm going to like this is just one example. I'm going to show like actual live implementations of this but I just wanted to sort of you guys get the initial feel and idea of what we're doing. Um why does Ethereum need this now? Um, so you know, we're seeing a huge amount and proliferation of, you know, L2s, many different types of awesome applications. We're seeing yield opportunities everywhere. Robin Hood chain came out. Um, there's a bunch of things that users could do on chain.

We're going to be seeing Trady coming on chain. And there's you know there is going to be some fragmentation in terms of liquidity in terms of UX and how you know users could easily um go across different chains and do different things. Um and when we sort of look at the reality between you know what users want and what they are doing today um you know a user just wants to you know single click do something. They want to always find the highest yield. They want to use assets from different chains to do something elsewhere. um they want to pay gas in any token. Um, but what users actually do in a case of, you know, let's say they're trying to find the highest yield. Um, I'm sure you could tell there's a lot, right? There's so

much that they've got to do. Um, and, uh, it's, you know, it becomes like nearly a full-time job. And then what about the developer challenge? You know, when developers, um, you know, come in and they want to build really awesome things in the space, what they want to build um, you know, are oneclick DeFi strategies. you know enable seamless crosschain experiences and ultimately like really and build just you know really good consumer grade apps. Um but what they actually do is you know they are inundated with so much of the build when it comes to audits when it comes to deploying on different chains handling you know crosschain messaging if they if they wanted to you know work across

chains as well um I I think there's at least when you know when we work with different apps they have to we see that they literally have to implement multiple APIs um and there's there's a lot right um and so we're kind of seeing you know a a lot of challenges between sort of the developers and the users and this is where orchestration comes in. Um what we mean by it and the definition is essentially the coordination and composing of multiple blockchain operations as a single flow. Um and what we mean by that is it's represented by scripts um that behave like smart contracts. Um these are essentially written in Typescript for single chain or multi-chain operations.

Um and it basically means like developers don't have to write solidity to actually enable blockchain workflows or enable new types of apps. Um and this means orchestration is really at the application layer. It's for it's for application developers. So when we look at sort of before and after orchestration um an app developer would typically have to integrate different endpoints of different chains. Um, of course, some EVM chains are very similar, but different EVM chains, they'd have to work around it. Um, and there is maintenance all the time when they're working with different chains. Um, but when it comes to sort of orchestration, what we've realized and what we've seen

is that typically it's just one endpoint to work with all chains um, across the whole EVM stack. Um, and what's really cool, we we've done account abstraction for a long time at Bonomy and so we we've seen this firsthand. We've seen the case where a developer if they wanted to support two or three chains they would need to um basically have API keys for pay masters on different chains and bundlers on different chains and this is you know um I I would say it's you know still quite complex right um but with orchestration what we're seeing is that no matter how many chains you're working with you just need one API key or just literally one endpoint right to to interact um and so we're seeing you

this um ease of use um from from a developer standpoint to become you know really really easy as we as we move forward. So this is the most exciting part of the um uh I'd say presentation. I want to show you live apps right like real life orchestration happening. So um last night when I was doing this presentation I basically um you know went on RV I supplied 25 USDT um and I'm very excited to announce that we're working with Venus Protocol. Um Venus Protocol is a uh lending protocol on BMBB chain and they're working with us to enable oneclick migration of um uh of assets or of positions particularly

um or we like to call them in DeFi um vampire flows, right? I was just speaking to someone and he said no, this might be a customer acquisition. That's probably a better way to define it and you'll see why. So, um, Venus knows that after I've connected my wallet, I actually have 25 USDT, right? Um, that I've already supplied on Ave. And what they're telling me is that, hey, um, the current APY is uh 1.55% on Ave. Um, but if you bring your position to um to Venus, we'll give you a high APY. All right. So, let me go ahead and do it.

And I can see here gas is free as well. Go ahead, click import. Let's hope this works. It's a live demo. I know. All right, it's confirming the transaction and uh I think we're good to go. Um so yeah, it worked. Simple as that. Um so as like what what happened in this transaction the the orchestration flow um and in this case especially it was a a composable batch execution where on BMBB chain the user literally unwinded

the the position on a um approved um the supply on Venus and then actually supplied on on Venus. So there was multiple instructions um as a composable batch and because um Venus they were sponsoring the transaction um even with orchestration what's really cool crosschain gas becomes super simple right lit they paid gas um using uh USDC on base right that's up to them they could easily just use USDC on optimism if they want to to pay gas for this operation they just happen to have the gas tank on on on base so but but imagine like you know like users paying gas elsewhere, you know, to do um uh transactions on a different chain. So,

this is a very simple single chain orchestration flow um that is, I'd say, live right now with Venus, which is pretty cool. Um so, I I would imagine nearly every lending protocol, every DEX, every protocol that has some form of TVL would have something like this. Now, let's go on to um something a bit more complex. Um, so we're working with Asgina. They were one of our first integrators. Um, and they are essentially um chat GBT with crypto, right? But they the AI is really awesome. It works. And so um yeah, really hope it works today. Um, so let me sort of see the um let me show you guys one example of what I want to do.

Um, so I'm just going to like type a prompt. Give me like just a couple seconds. Let's say um I'd say look bridge um bridge USDT from BMB chain to bet the trim to buy AB. Why not? Because you know they've got Robin Hood so might be good idea to get more AB and also bridge um swap actually no let me be a bit more specific. swap um 10 USDC from OP to buy on AR.

All right. Um this has been working but Arggin has also had a lot of traffic the past couple of days. So sometimes it's um the anthropic credits have um um you know have just you know been um exhausted. So yeah I think it should be working now. So here at least from the Archina case what it does is it basically lets um that the AI basically constructs the call data. It first looks at the balances constructs the call data um you know after understanding my prompt and what I want to do. And so yeah it that that was actually very quick. It fully understood what what I wanted to do. Um as you could see I'm bridging x amount of USDT um and also swapping 10 USDC from

Optimism um to ARB. And now this is uh where orchestration uh will be coming in. Um this part might just take All right. So yeah, I'm just getting a transaction summary um from a call data and now the execution is going to happen. Um so let's just give it one moment. All right. Awesome. All right. two live demos that worked without no problems. So as you guys could see like um the full um transaction or the prompt that I um uh basically asked for did work and as you could see here um few transaction

details you could check out the the explorer and what's really cool is that um gas was paid on base to execute these operations on optimism and BMBB chain right very simple very easy no need to really think and you know well at least for the AI they it didn't need to think about um uh the RPCs, the different chains, gas, it was just very very simple. Um so yeah, so like these these are literally like live uh you know applications using orchestration as we speak. Um all right so see how long all right perfect so just one very quick thing that I wanted to get into um which is what

what's one of the game changers of orchestration. So, one of the biggest developer challenges that we've seen is if someone if a developer wanted to enable a swap and deposit flow, the biggest problem is that um when the when the user swaps, you don't really know as a developer how much they will actually get and receive after the swap due to slippage and onchain conditions. Um, and so you can't really um have an exact sort of like um uh data to then put into the function call for the the stake position. And so yeah, and so like this happens right now. This happens across this um you know for forward developers.

And so um this can easily result in like high failure rates. Um but what we've realized and what we've seen in orchestration is that we are able um to at um runtime use sort of the exact um output amounts to be used as inputs for the next transaction. Um and so like these real-time values are injected at execution at runtime. Um and this we're seeing is a really huge game changer especially at the developer level. And so um you know when we sort of look at the business impact and what it means is you know there's reduced um failed transactions uh the UX becomes just way better because um you know like we literally reduce sort of the the failure

rates um due to this um we could optimize capital efficiency because you know we're using exact um outputs as inputs and then of course the developer freedom that exists when you're able to create more and more sophisticated flows. Um and uh yeah I you know one other really cool thing about orchestration is that it works with all wallets. So EOAs without 7702 EOAS with 7702 smart accounts um and so like the first um so so the first video I showed you guys and the Venus uh application used EOAS without 772 um how that's a topic for a separate um

presentation. Um uh however with Argginina that used EOAS with 7702 they used Privy um and with excuse me and with Privy they uh basically delegated to our Nexus smart account um which done which basically did the orchestration um and we're also working with other partners who are smart account first and they could easily enable orchestration out the box and so why is this really important um because now developers um can access all users Right? Whereas before account abstraction, there was this really big problem with having to deposit into a smart account wallet and whatnot. Um developers could use tools they're familiar with and wallet friction now

does not exist which is which is really cool. And so just to sort of come back and sort of just really see overall what this enables, what orchestration enables for for users it's oneclick operations, crosschain gas, invisible UX. um for developers um they could write TypeScript instead of Solidity. So all the flows that you guys saw was used really just by using front-end code and TypeScript which is really cool. Um and this also means that developers could iterate without contract deployments and have access to all users. Ultimately for Ethereum um we're introducing real composability or making Ethereum feel like one. Um and uh given sort of the nature of not having to write and no

solidity um there is just way more access to developers for Ethereum which is really cool. Uh what orchestration is not this is important um uh because um you know you'll see that there is some bridging involved and whatnot but it's very important to know that we're not a bridge. We use existing bridges. We use existing solutions. Um orchestration doesn't mean there is a new L1 or L2. It works with all chains. Um, orchestration is not account abstraction. We like to say account abstraction is a subset of orchestration. Uh, because it enables all the really cool benefits that account abstraction enables. Um, and orchestration is not intense. It supports intents with a additional layer

of of functionality. Um, and ultimately you know we seeing that orchestration serves developers and users. Why? because of this flywheel of better devx, better UX, better feedback, and faster iteration. And and for us, this is, you know, we we've been a company that have has been focused on developers, and this is has been a really important um um I'd say a really important step for us moving forward. And so when we look at um who are the adopters of this and sort of you know examples um of what real life use cases look like um you well you guys saw some of um the the real uh demos um but just you know to to give a high level um of

of what we're seeing people um at least the integrations that that we're seeing happening before they go live. Um we're seeing sort of um developers enable better yield strategies. We're seeing developers use scheduled transactions with orchestration. Um with the AI, of course, we can now, you know, get to a closer um I'd say uh like to to a a closer position of getting to autonomous agents. Um and now that AI could just you know um uh not have to worry about the execution layer because orchestration handles the execution layer. Um, and then when it comes to web 2 and fintex, what's really awesome is that the ease of accessibility to do

stuff on chain without having to think about all the complexities it brings. Um, and of course crypto payments across any chain is something that we're seeing fintex increasingly um ask for. Um, okay, perfect. Um, so yeah, I have a minute left. Um but just you know high level um when I say orchestration in practice you know for this we we believe is going to be something really big in the next six months. Um and for us at Bconomy we like to call our orchestration layer modular execution environment because that is sort of an execution environment. Um you know that that we we've built it in a certain way.

Um and uh for us we've enabled this primitive called super transactions that enables these complex complex flows. It's live in production in today. Um, and we essentially have a lot of ecosystem um, partners where we use a few of these partners under the hood to enable orchestration. Um, as you guys could see and ultimately for us really the vision um is is is three-fold. Um, uh, we want to make every action a single signature. you know matter how many chains it spans users can unlock and access all their assets uh without you know all these blockchain complexities and we and the third is I

think a really big deal is enable non-contract devs to write as much as they can hopefully more than 90% of the application code um and so yeah we we are all I'd say bullish on Ethereum it has amazing infrastructure and we believe it could be even more amazing with orchestration All right. Well, thanks so much. I think we've just finished. Um, I don't know if there's Q&A time or No, cool. All right. Well, thanks a lot.

Thanks for for joining. [Applause] [Music]