V God’s Best-looking Wallet Track A Comprehensive Review of Smart Contract AA Wallet Projects

Unlocking God's Most Stylish Wallet Track A Comprehensive Review of Cutting-Edge Smart Contract AA Wallet Projects

Author: defioasis

Editor: Colin Wu

Note: This article is for information sharing only and does not endorse any projects. It has no affiliation with the mentioned projects.

• Crypto Kings No More How US Courts Hold the Scepter of Power in Shaping Crypto Policy
• Europe’s Financial Regulatory Landscape: Balancing Security and Freedom
• Major Questions in the Crypto Industry: Separating Fact from Meme

In August, the number of active multi-chain smart contract wallet accounts (ERC-4337) reached 443,600, hitting a new historical high. Among them, Arbitrum reached 213,100, Optimism reached 153,500, Polygon reached 49,700, and Base reached 22,900. In August, the cumulative number of successful transactions (UserOps) executed by multi-chain smart contract wallet accounts exceeded 840,000, a month-on-month increase of 45.6%. Unlike July, where 96% of UserOps concentrated on Polygon, in August, UserOps bloomed on multiple chains such as Optimism, Arbitrum, Polygon, Avalanche, and Base. Represented by multi-chain LianGuaiymasters, users paid more than $360,000 in UserOp gas fees, a month-on-month increase of 742%.

The smart contract wallet was first introduced by Argent, and the account abstraction ERC-4337 officially established the smart account as a branch of the contract wallet. Unlike the EOA address generated by a general wallet, Argent deploys a smart contract to represent the user’s address. Users can generate/recover Argent private keys via social means to sign transactions, and then send them to the Argent relayer for submission using the private keys. However, the Argent relayer is actually still an EOA address, and it calls the smart contract wallet with the already signed transaction. The account abstraction ERC-4337 goes deeper into the relayer structure, allowing anyone to create their own verification structure, thus enabling functions such as transaction bundling and Gas payment (LianGuaiymasters).

As of September 7th, the number of multi-chain smart contract wallet accounts has exceeded 778,000, with a cumulative execution of over 1.6 million transactions. Among them, Polygon has 372,000 smart accounts, accounting for 47.7%; Base has 235,000, Arbitrum has 215,000, and Optimism has 163,000. This article will take stock of the most widely used smart contract wallets on multiple chains.

ZeroDevKernel

ZeroDev Kernel is the most widely deployed smart contract wallet on the current major EVM networks, with over 580,000 accounts deployed on multiple chains. Users can use ZeroDev to create custodial and non-custodial smart contract wallets, or convert EOA wallets into smart contract wallets on Wallet as a Service (WaaS) providers. ZeroDev features gas sponsorship, transaction batching, session keys, social recovery, automatic trading, and multi-signature capabilities. In addition, ZeroDev allows developers to build DIY smart contract wallet plugins to extend wallet functionality.

ZeroDev Kernel is one of the 18 selected projects for the first Ethereum Foundation Account Abstraction Grant (AA Grant). Kernel has been open sourced and has completed the Kalos (formerly Haechi Audit) audit. It has also committed to completing audits on all its developed plugins before listing them.

Biconomy

Biconomy provides a modular SDK and introduces the Smart Contract Wallet (SCW) as a fundamental component of the system. It is a comprehensive software development kit specifically designed for building dApps with social features using the ERC-4337 account abstraction. Smart accounts using Biconomy SDK have been deployed on over 40,000 chains, but with a main focus on Polygon. Biconomy SDK brings a Web2-like experience to dApps in a non-custodial way. Some of the currently implemented features include social account login, create and recover onboarding experiences for users, fiat on-ramp for buying or selling cryptocurrencies within the dApp, users paying no gas fees with sponsors covering the costs, gas fees paid with any ERC-20 token, and customized transaction bundling allowing users to execute multiple operations in a single transaction across multiple chains.

Biconomy has raised a total of $10.5 million in funding in 2021, with investors such as Coinbase Ventures, Binance Labs, Fenbushi Capital, and Huobi Ventures. They have also launched the BICO Token, with a market value of approximately $138 million. Biconomy has completed audits by Kawach io, Zellic for its smart accounts, and LianGuaiymasters.

CyberAccount

CyberAccount is an smart contract wallet introduced by the decentralized social network CyberConnect. Due to its integration with the CYBER airdrop, CyberAccount has brought significant traffic to smart contract wallet accounts deployed on the Polygon and Optimism networks at the end of July and beginning of August. CyberAccount utilizes the Zerodev architecture and has deployed over 490,000 smart contract wallet accounts. CYBER will be used for price measurement and gas payment within CyberAccount. CyberAccount consists of four key components: identity verification and authorization for user actions on the CyberConnect protocol, ERC-4337 compatibility, collaboration with StackUp and Pimlico for internal bundling and payment solutions, complementary to CyberID where a portion of CyberID registration fees will be refunded to CyberAccount in the form of gas credits, and organization accounts providing advanced account management functions such as multisig and customizable access control rules.

CyberConnect has raised a total of $30.4 million in funding from 2021 to 2023 (including public sales), with investors including Animoca Brands, IOSG, Delphi Digital, and Protocol Labs. They have also launched the CYBER Token, with a market value of approximately $66 million. CyberAccount has been open-sourced.

AlchemyAccountFactory

Alchemy is a Web3 development platform that helps developers build and scale dApps. It provides various APIs such as Bundler and Gas Manager to assist developers in building smart account wallets that comply with the ERC-4337 standard. The Smart Account Account Factory (0x94…6454) deployed using the Alchemy API is close to 250,000, with 237,000 deployed on Arbitrum, making it the largest Arbitrum smart contract wallet deployer.

Alchemy completed a total of $545 million in financing between 2019 and 2022, with investors including Coinbase Ventures, a16z, LianGuaintera Capital, and Redpoint Ventures.

EchoooWallet

Echooo is an ERC-4337 supported smart contract wallet that combines MPC and AI. It has features such as small screen optimization for mobile users, gas optimization, and MPC protection for EOA+smart contract account Vault hybrid. Through collaboration with zkSync, Echooo Wallet has become the largest smart contract wallet on the zkSync Era, with more than 10,000 smart accounts deployed on zkSync. In addition, there are over 7,300 smart accounts deployed on Polygon, with multi-chain gas fee payments exceeding $13,000.

Echooo Wallet completed a $15 million financing round in July of this year, with investors including Skyview Capital and A&T Capital. Echooo has completed the Coinspect audit.

Other smart contract wallets funded by the Ethereum Foundation (most of which are not yet finished or in closed testing stages, in early development)

MynaWallet

MynaWallet focuses on Japan, allowing users to use their Japanese government-issued personal identity card, Myna Card, to integrate with the smart account. Through Myna Card, Japanese users will be able to seamlessly make cryptocurrency payments on MynaWallet.

QRSeal

QR Seal is a multi-signature wallet that implements privacy protection and gas optimization through account abstraction and Schnorr signatures. With QR Seal, all signatures are done off-chain, currently done manually by scanning QR codes between devices. Once everyone has signed the transaction, it will be broadcasted on-chain.

Account abstraction wallet based on ZKP built by the IoTeX team

A ZKP-based account abstraction wallet created by two senior researchers from the IoTeX team, including wallet operations with Web2 identity verification, social recovery using Web2 social media status, and initializing zero-balance wallets using mainstream Web2 payment channels.

Tokensight

An open-source WebAuthn wallet that implements gas cost optimization using full on-chain approach, without any form of MPC architecture, to provide maximum security and decentralization.

Hexlink

Hexlink aims to provide a usable ERC-4337 compatible smart account for all ENS domain users through EIP-4972. With Hexlink, ENS domain owners can export a unique smart account, which is exclusively deployed by the domain owner, enabling the migration of ENS users from EOA to smart accounts.

UniLianGuaiss

UniLianGuaiss has released an account abstraction SDK for developers, providing a seedphrase-free, gas-less user experience based on smart contract wallets, and has introduced on-chain signing of ID Tokens in the verifiable OpenID Connect protocol, for new user login and recovery as an OpenID authentication solution. In May of this year, UniLianGuaiss and hardware wallet developer Keystone announced the official merger and establishment of Account Labs.

Clave

Clave is a non-custodial smart contract wallet supported by account abstraction and hardware elements such as Apple Secure Enclave Hardware Elements and Android Trustzone.

References:

https://web3datadegens.substack.com/p/web3-sql-weekly-8-analyzing-account

https://mirror.xyz/erc4337official.eth/hRn_41cef8oKn44ZncN9pXvY3VID6LZOtpLlktXYtmA

We will continue to update Blocking; if you have any questions or suggestions, please contact us!