Digital banking

Summary

Our innovative payment solution provides a fast, secure and low-fee decentralized payment system. By integrating advanced card management capabilities through account abstraction technology, we bridge funds from L1 networks, enabling regular payments via specially designed cards. This system simplifies the user experience, allowing direct interaction with DeFi applications and on-chain payment services without the typical blockchain complexities.

What it Solves

Current blockchain transactions suffer from slow processing times due to L1 network capacity constraints, affecting user experience and scalability. By utilizing L2 rollups, we can process transactions much faster on L2 and then aggregate these transactions into batches. Only the final state is recorded on L1 through a single proof for the entire batch, significantly enhancing the speed and efficiency of on-chain transactions.

Reducing costs

SOLUTION

By deploying gasless L2 rollups, transactions on L2 will be free for users, with the system absorbing costs for batched L1 proofs. This approach minimizes transaction fees by spreading the cost of L1 submissions over numerous transactions, thereby reducing the financial barrier for users.

Safer Transactions

SOLUTION

Our strategy focuses on safeguarding fund transfers by selectively permitting only pre-vetted assets for bridging and employing an extensively audited, open-source bridge. This minimizes exposure to vulnerabilities and ensures any potential weaknesses are identified and addressed, enhancing overall security and reliability.

Secure Funds

SOLUTION

Our solution implements account abstraction to transition towards non-custodial wallets, placing control of assets firmly in the hands of users. Account abstraction streamlines interaction with blockchain networks, allowing users to customize security settings and control transactions directly, enhancing user autonomy and security.

Easy onboarding

Blockchain technology, while powerful, often presents a steep learning curve due to its complexity and the unfamiliarity of concepts such as public and private keys to start with. This complexity can deter easy mainstream adoption, as potential users may find the technology intimidating and difficult to use for everyday transactions.

We address this issue by integrating account abstraction with a high-level wrapper designed to streamline user interactions. This combination simplifies the user interface, making blockchain transactions feel as familiar and straightforward as traditional online banking.

Account abstraction serves to hide the underlying technical complexities from the user, while our high-level wrapper provides a seamless and intuitive interface for managing funds, executing transactions and using blockchain-based cards.

Scalable

Blockchain networks face challenges in scaling to meet high demand, leading to congestion and slow transaction times.

Our solution deploys a top-level transaction balancer that directs transactions across several secure, isolated L2 chains. This load balancing ensures fast and reliable transaction processing even during peak periods, addressing scalability issues effectively.

Components

Our solution deploys a top-level transaction balancer that directs transactions across several secure, isolated L2 chains. This load balancing ensures fast and reliable transaction processing even during peak periods, addressing scalability issues effectively.

Gasless L2 rollups

At the core of our architecture is a gasless L2 rollup network designed to optimize transaction processing. By grouping and batching transactions for L1 proofs, it significantly enhances transaction speed and reduces costs.

Options:
1. Polygon-CDK Rollup: A scalable solution from Polygon.
2. Optimism Rollup: Focuses on optimistic rollups for scaling.

Oracles

Oracles are vital in the Gasless L2 Rollup architecture, providing external data to the system. Oracle Services (OB) interface with external data sources and integrate this data into the Gasless L2 Rollup. They connect to both Management Wrapper Contracts (MW) and Oracle Contracts (OC), enabling the system to make informed decisions and operate based on updated real-world information.

Oracle contracts (OC)

The primary role of the Oracle Contracts is to act as a bridge between the Gasless L2 Rollup system and external data sources. They connect directly to Management Wrapper Contracts (MW). They fetch, verify and supply external data - ensuring the Gasless L2 Rollup has accurate and updated information. This connection supports informed decision-making, transaction validation and overall system functionality.

The management wrapper contracts (MW)

The primary role of the Management Wrapper Contracts is to provide a layer of abstraction and management for the Gasless L2 Rollup system. Management Wrapper Contracts connect Oracle Contracts (OC) and Account Abstractions (AA). They play a crucial role in ensuring the smooth operation and efficiency of the Gasless L2 Rollup system by managing the flow of information and transactions between various parts of the architecture. This ensures the Gasless L2 Rollup system operates smoothly and efficiently.

Account abstraction (AA)

The primary role of the Account Abstractions is to abstract the details of user accounts and transactions - providing a simplified interface for interacting with the Gasless L2 Rollup system. Account Abstractions connect to Management Wrapper Contracts (MW) and the Application (Fr). They facilitate the seamless integration of user accounts and transactions with other components of the Gasless L2 Rollup architecture. They help in maintaining the integrity and security of user data and transactions while ensuring smooth communication between different parts of the system.

Options:
1. Gnosis Safe: Creates secure, smart contract-based wallets;
2. Presto-AA: Tailored for the Presto ecosystem;
3. Other Solutions: Evaluated for isolated fund management and user-friendly transactions.

L1 Network

The L1 network selection is foundational, directly influencing transaction costs, ecosystem richness and overall project scalability.

Options:
Ethereum: Offers a vast ecosystem with extensive development tools, ideal for leveraging network effects and ensuring robust security. Its broader adoption comes with higher transaction fees.
2. Gnosis: Stands out for its lower transaction fees, making it a cost-effective choice for projects aiming to minimize operational costs.

Bridge

The Bridge component is a crucial part of our architecture, enabling the transfer of funds from L1 to L2 networks. It's specifically designed to harness the benefits of L2 scalability while maintaining the foundational security of L1. A key feature of this component is its allowlist, which restricts transfers to approved tokens only, ensuring the ecosystem's integrity and security.

Block Explorer

Block Explorers are essential tools in our architecture, enabling users to access detailed information about transactions, smart contracts and blockchain states in real-time.

Options:
1. Blockscout: An open-source explorer designed for detailed viewing of blockchain activities across various networks.
2. Dora:** A versatile blockchain explorer that provides robust data analysis tools, transaction tracking and smart contract interaction insights.

Price Oracles

Price Oracles play a critical role in blockchain architectures by providing reliable, real-time price data from external markets to the blockchain.

Options:
1. API3: Offers decentralized APIs by directly connecting smart contracts with real-world data sources, reducing reliance on intermediary services and enhancing data reliability.
2. Redstone:** Provides highly customizable and efficient data feeds, focusing on speed and scalability. With features that allow for specific data tailoring for blockchain applications.
3. Presto-Oracle:** A specialized Oracle developed for the Presto ecosystem, it's optimized for integration within the system, ensuring seamless data flow and application performance.

Indexers & API

Indexers and APIs are essential for querying and accessing blockchain data efficiently. They play a pivotal role in enhancing the performance and user experience of blockchain applications by providing structured and quick access to on-chain information.

Options:
1. Presto-Indexer: Tailored specifically for the Presto ecosystem, this indexer is optimized for speed and accuracy, ensuring that applications can quickly access the data they need.
2. The Graph: A decentralized protocol for indexing and querying data from blockchains, The Graph supports a wide range of blockchains and is known for its robustness and flexibility.
3. Goldsky: Specializes in providing dynamic and scalable indexing solutions. Goldsky offers tailored data services that cater to the specific needs of diverse blockchain applications.

Cards Integrator

The Cards Integrator component serves as a bridge between blockchain-based transactions and traditional payment systems, enabling users to utilize blockchain assets through familiar payment infrastructures like Visa or Mastercard.

Options:
Wirex: An example of a Cards Integrator, offers a platform that converts cryptocurrencies to traditional fiat currencies, bridging the gap between digital and traditional finance.

KYC service

The KYC Service is a crucial component for ensuring regulatory compliance and enhancing the security of blockchain platforms. It verifies the identity of users, playing a vital role in preventing fraud, money laundering and other illicit activities.

Application

The Application component is the user-facing part of the blockchain architecture, providing the interface through which users interact with the blockchain system.

Options:
1. SPA Web App: A Single Page Application for web users, designed to offer a responsive and cohesive experience without the need for page reloads, making it ideal for dynamic interactions with the blockchain.
2. Mobile Application:** A dedicated app developed for mobile devices, available for both iOS and Android. It allows users to access blockchain functionalities on-the-go, providing convenience and accessibility.