What EIP-4337 Brings: Account Abstraction

Developing a Non-Custodial Smart Contract Wallet with Social Recovery and More

Summary

Smart contract wallet that supports EIP-4337 with account abstraction for both plugin extension and mobile client.

• Create wallets via email. No seed/mnemonic
• Receive funds without deploying contract
• Change the signing key via social recovery
• Pay transactions with ERC-20 as gas fee (eg. CAN token?), or even no gas via sponsored transactions (CAN pays the fee)

Purpose of Account Abstraction

EIP-4337
https://eip4337.com/en/latest/index.html
https://github.com/ethereum/EIPs/blob/master/EIPS/eip-4337.md

• Allow users to use smart contract wallets containing arbitrary verification logic (for example, email, social recovery, etc.)
• Basically, it opens up a potential for wallets to be more powerful with different features for users in a non-custodial way.

Such as:

• privacy-preserving wallet
• more efficient wallet with atomic multi-operations
• pay tx fees with ERC20 tokens
• allow developers to pay fees for their users
• EIP-3074-like sponsored transaction
• team wallet with aggregated signatures (e.g. BLS) — such as those multisig wallets

Components

• Chrome extension/mobile: a user interface that calls the ABI of Paymaster and Bundler’s contracts of EIP-4337 to create, deploy, and recover your wallet.
• Security Center: a user interface & platform for the guardians (social recovery) for social recover
• ex: save program data such as recovery record signatures — so that they don’t need to keep track of different addresses that they are guarding for.
• Verify legal operations and other security checks (we can implement this using the ERC4337 Entry Point contract)
• Wallet Paymaster Contracts (EIP-4337)
• Bundler relayer (backend)
• Entry Point contract (EIP-4337) follows the official ERC-4337 contract

Social Recovery