KEYPOM 101: THE ONBOARDING REVOLUTION IS NEAR

Open Web development has been making significant strides in overcoming challenges such as the scalability trilemma, bridging trilemma, and UX/UI as it approaches mainstream adoption. While all this progress is impressive, mass adoption requires a different level of attention be given to onboarding.

This is where Keypom comes in. Keypom is taking on the challenge of onboarding by making the first contact new users have with Web3 as seamless and immersive as possible.

TL;DR

• Keypom is a zero-friction onboarding protocol and access key factory built on NEAR, which lowers the barrier to entry to Web3 for both new and existing users
• Keypom Drops : highly customisable, granular, affordable, Keypom Drops feature multiple use cases, including NFT ticketing, recurring payments, event analytics, backend servers, and token / NFT drops.
• Keypom Trial Accounts : lets users experience the value of a product and later convert the trial account into a full-blown wallet retaining their transactions and tokens
• Essentially, projects can use Keypom to let users experience the value of a specific product / dApp without creating a wallet, via the simple click of a link

Rethinking Onboarding for Users and Builders

To users, Keypom is a frictionless onboarding protocol that grants them access to the dapps and value within the NEAR Blockchain Operating System (BOS) without the fuss of wallet creation or interruption of on-chain interactions (i.e., transactions) with smart contracts. A simple action, like clicking on a link and immediately experiencing a dApp, is a familiar and straightforward process.

On the flip side, developers and builders can leverage Keypom functionality—like lindrops—via its SDK to integrate a seamless and customisable onboarding experience for their users into their products.

The Underlying Technology Powering Keypom

Many projects build on NEAR for its massive scalability, composability potential, and robust security. However, for Keypom, it is the unique account model of NEAR wallets that is the underlying stack powering Keypom. The NEAR account model allows you to:

1. Create accounts with human-readable names (e.g., borderlesscommunity.near) as opposed to the common number string set (e.g., 87364nq384uq89rhqf8h78h7)
2. Give specific and limited permissions to third parties via access keys; on NEAR, a single account can create and store multiple access keys

For context: Every crypto wallet has a public key and a private key. A public key is the equivalent of a username, while the private key is used to sign and validate transactions.

Access keys are public and private key pairs with specific permissions that grant dApps limited access to your account. Your NEAR account can hold multiple access keys depending on the number of dApps you are interacting with.

Access keys make your interactions safer since any smart contract you interact with is limited by the permissions you’ve granted. What’s more, these keys are easily replaceable and can be used for account recovery. There are two types of access keys:

1. Full Access Keys: give users full control of an account
2. Function Call keys: used by dApps to make contract calls on your behalf; function Call keys calls do not involve any payment or transfer of $NEAR

Keypom extends the use case of the access key tech stack to provide users with special, customisable access keys that can be later converted into a fully functional NEAR wallet. These special access keys are wrapped as shareable, clickable links, that allow you to create a human-readable username and immediately start experiencing the value of a product or service.

Unlocking Practical Use Cases with Keypom Drops

Keypom Drops operate similarly to smart contracts and hold the functionalities of an access key. Think of the drops as teams on which access keys can play. Depending on the developer’s needs, drops can be configured by usage, time, or public sale and used to create new wallets or send assets to existing ones. Keypom Drops can cost as little as 0.0035 $NEAR per drop, making them an affordable option for mass onboarding or multiple drops. There are four types of Keypom Drops:

• Simple Drops: Create access keys that can only transfer $NEAR. When properly leveraged, Simple Drops can become a powerful and cost-efficient onboarding tool. One interesting feature of Simple Drops is that they can be programmed to be used multiple times with specified time intervals, which unlocks possible recurring payment use cases
• Fungible Token Drops: If you want to drop tokens other than $NEAR, then Fungible Token Drops are the best option. They add a light wrapper around the Simple Drop and allow you to drop tokens other than $NEAR
• NFT Drops: Instead of sending fungible tokens, you can choose to send NFTs. The NFT Drop is similar to a fungible token drop, except that it wraps the Simple Drop with NFTs and some $NEAR tokens
• Function Call Drops: The most versatile of the Keypad Drops. These unleash the full power of Keypom’s value, allowing for a variety of methods to be called from contracts with very few exceptions. They are useful for NFT ticketing, auto-registration into DAOs, comprehensive analytics for events (POAPs), and multi-sig contracts

Keypom Balances

For developers, it can become monotonously tedious to constantly attach $NEAR to every single function call, such as creating a drop, deleting or adding keys, etc., especially when mass onboarding is the goal. Keypom Balances abstract this process by allowing you to make a deposit into an internal balance on your account logged into Keypom. This deposit is called by Keypom every time you send a function call.

Keypom Trial Accounts: The Future of Onboarding

Keypom Trial Accounts allow users to experience the value of a dApp in the same way they would experience a Web2 app with a trial period, but better. With Keypom Trial Accounts, users can seamlessly transition to fully functional wallets once the trial is over. The journey has a quick and straightforward flow:

• Developer K builds dApp xyz
• Developer K uses Keypom to create a trial account, which is a wrapped access key with a smart contract preloaded with $NEAR, and sends it as a link to User A
• User A clicks on the link, enters a username.near, and is automatically signed in to dApp xyz
• When User A is satisfied with the experience or $NEAR runs out, they can immediately transition their trial account into a fully functional wallet via FastAuth, retaining their username.near and the transactions they had made, including tokens

What about security?

Security is a critical concern in the world of Web3. Traditionally, linkdrops on NEAR had a significant loophole: the recipients of the linkdrop would receive a fully functional NEAR wallet preloaded with $NEAR with no restrictions. This meant that a malicious user could transfer the tokens out of the wallet, use them on another dApp, bridge the tokens out of the ecosystem, or launch a Sybil attack by accumulating multiple linkdrops.

Keypom Trial Accounts are different because users can only use the wallets and preloaded tokens the developer has specified, thanks to the access key core of the drop. The NEAR tokens in Keypom Trial Accounts are attached to a smart contract with specific rules set by the developer.

Final Thoughts

To summarise, by radically simplifying the way that users experience the Open Web, Keypom is completely changing the existing Web3 landscape—all while creating many new ways to achieve true mass adoption via NEAR.

Written by Beet
Edited by @achildhoodhero

About Keypom

Keypom is a zero-friction onboarding protocol and access key factory built on NEAR Protocol, which new enables new users to immediately experience the value of Web3 by simplifying the onboarding process. This includes cutting through the hassle of KYC, seed phrases/private keys, wallet creation, etc. — significantly lowering the barrier to entry.

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