Launching Safe{Core} Account Abstraction Stack with Stripe, Gelato and Web3Auth

If we learned anything from 2022, it is that counterparty risk and absolute trust in third-party custody is dangerous. While there may be degrees, self-ownership matters. It is critical to allow users to have agency over their digital destiny. Not just in regards to financial assets, but their data and identity, too. This is truly the promise of web3.

Summary:

• Safe is one of the earliest and most battle-tested implementations of account abstraction (AA) securing $39 Billion.

• Safe is launching Safe{Core}, a modular AA stack with Stripe, Gelato, and Web3Auth as launch partners.

• The new AA SDK will offer developers direct access to a wide range of integrations, enabling web3 apps across use cases to offer web2-like UX.

• Safe is announcing a month-long hackathon in March- March for Account Abstraction with bounties worth $50,000+ to get the power of account abstraction in the hands of developers, starting today.

Self-ownership is critical but non-custodial accounts are unusable by the masses.

If we learned anything from 2022, it is that counterparty risk and absolute trust in third-party custody is dangerous. While there may be degrees, self-ownership matters. It is critical to allow users to have agency over their digital destiny. Not just in regards to financial assets, but their data and identity, too. This is truly the promise of web3.

Today, there is a binary choice for users. They can either completely give up ownership of their assets to a custodian and play in a walled garden, or bear the full responsibility of protecting their assets and scrutinizing every transaction. Small everyday burdens of gas fees, seed phrases, jumping wallets, and switching networks to do simple transactions have made web3 unusable by the masses.

We need to do better.

Account abstraction is the next frontier for web3 mass adoption

Web3 UX falls short and we need to do better. These usability improvements that provide a more web2-like experience are likely to onboard the next millions. AA envisions a world where a user may not have to always guard their account alone and can recover their assets without trusting someone else completely. Additionally, users can perform transactions without caring about which network they are on or paying gas fees to publish something as simple as a blog. This vision has been advocated by some of the most influential minds in the industry including Vitalik Buterin himself.

Launching Safe{Core} - A modular and open stack for developers to onboard millions onto web3.

Safe’s custody infrastructure secures $39 Billion in assets today and has been thoroughly audited and tested since 2018. It has become the default wallet of choice for everyone from web3 natives like AAVE and 1inch to enterprises like Shopify. Some of the largest individual asset holders like Punk6529 and Vitalik Buterin also trust Safe{Wallet} with their own assets.

Today, we are doubling down and making our stack available to anyone to build the next generation of account abstraction wallets and solutions. With Safe{Core}, we are launching an open-source and modular AA stack that brings a flexible developer experience with the same tested core contracts as the underlying infrastructure. Several “kits” (see below) will let developers use the best technologies in the industry to focus on UX like never before.

Safe{Core} Modular Kits at launch

At launch, we have 3 exceptional partners in Stripe, Gelato, and Web3Auth who join us in improving UX in 3 domains of fiat on-ramping, transaction fee and payment flow simplification, and authentication. This will help developers using Safe{Core} to build web3 apps with a web2-like experience. Over time, we will introduce integrations that will add more functionality and UX benefits for developers and end users, making the bridge between web2 and web3 even more seamless.

Future of Safe{Core} AA SDK kits

The stack is being built to support any and all implementations of AA including EIP 4337 and chain native account abstraction futures.

The biggest impact on onboarding millions is going to come through account abstraction. Safe has been at the forefront of AA and is the most battle-tested and used implementation. With Safe{Core} we are putting a modular stack in the hands of developers to grasp this massive opportunity. We have partnered with the best in the business to improve UX capabilities for on-ramping, relaying and authentication as part of Safe{Core} kits. We now invite partners and developers to integrate and improve the experience for average users with the known and tested robustness of Safe infrastructure. – Richard Meissner- Co-founder of Safe

Safe{Core} is now open for building 🚀

With the launch of this powerful new stack of developer tools, we are introducing our month-long hackathon in March aptly called “March for Account Abstraction”.

March for AA Hackthon

With bounties of over $50,000 by partners like Stripe, Coinbase-incubated BASE, Gelato, Web3Auth, Gnosis Chain, Cowswap, and Superfluid we invite developers to help create the next generation of web3 apps with robust security standards but smoother UX.

To the broader industry, Safe{Core} will partner and collaborate with the best and brightest to unlock new areas of account abstraction and push forward the ease of self-ownership and the promise it brings for the future of the web.

About Gelato

Gelato is Web3’s decentralized backend empowering builders to create augmented smart contracts that are automated, gasless & off-chain aware. Leading Web3 projects rely on Gelato to power the execution of millions of transactions across DeFi, NFT and Gaming. Learn more:

About Web3Auth

Web3Auth is the leading wallet infrastructure provider. It leverages a simple, non-custodial Two-Factor Wallet set up for Web2 brands and Web3 applications, providing a seamless login experience for everyone.

Web3Auth has worked with Web2 brands like Universal Studio, Fox.com, SK Telecom and Web3 projects like Binance Extension, Metamask, Kepler, Kukai, Skyweaver, Kash, Coub etc. The organization closed $13 million Series A in January 2022 led by Sequoia Capital India. Today, it is proud to support more than 500 web3 projects with 12 million monthly users. For more information, visit: