Chainspan
self-custody one-click DeFi investing
Created on 1st July 2024
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Chainspan
self-custody one-click DeFi investing
The problem Chainspan solves
Participating in DeFi as a liquidity provider often takes up to 10 steps.
Before Chainspan
After Chainspan
We make it super easy and safe with a self custodian vault (SCV) that is controlled by an AA wallet account.
The ONLY owner of the SCV is the AA account, and the AA account's guardian is a single EOA account. This way, we are able to ring fence all the actions needed to interact with a specific defi opportunity into one contract that is only accessible by a single EOA owner. Staking or yield farming as LP is now more secure with better privacy as users’ assets sit in SCV that is only accessible by the owner, to some extent the assets are isolated on top of an infrastructure that is privately owned without sharing.
Challenges I ran into
getting the smart contract wallet to do the automate swapping from any token into the desired tokens for the DeFi opportunity was a challenge, and UX remains a work in progress since it's not clear to first time users how to send the correct token from their EOA wallet into this smart contract wallet. Once that part is made clearer, it should be easy for users to use these AA wallets to interact with the entire Base ecosystem.
Tracks Applied (1)
Trading Track
TRADING with Aerodrome and Synthetix
Technologies used
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.