The idea is to promote self-custody of users’ funds. The EOAs in use today “promise” users that they are the owner of the assets stored in these wallets but it only takes you to lose access to these wallets and you have now lost all the funds. Account abstraction allows users to own their funds by replacing EOAs with smart contract wallets. These programmable smart contract wallets are flexible enough to process single and multiple transactions with different signature techniques and support the social recovery of wallets. With batching of transactions, problems like approve patterns in ERC-20 and infinite approvals can be solved.
Armor Wallet is a POC solution that aims to add protection against MEV attacks for transactions and reduce the barrier to entry of new users into the ecosystem by allowing paymasters to fund the transactions using a custom ERC20 token. The paymaster mints custom ERC20 tokens that can be used to pay for the gas of the transactions. The locally run bundler follows the ERC4337 specifications and adds the flashbot protect provider code that bundles up the userOp transactions and sends them to flashbot protect for MEV protection.
Armor Wallet looks to solve problems like:
The Account abstraction space is very new and everybody is trying to come up with solutions to make it usable.
Technologies used
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